The Australian Share Ownership Study released today by the Australian Securities Exchange (ASX) shows that 6.7 million people or 38% of the adult Australian population invested in the Australian share market, either directly (via shares or other listed investments) or indirectly (via unlisted managed funds), in 2012. This is a decline from 43% total share ownership [...]
continue readingThe SMSF Professionals’ Association of Australia (SPAA) supports the Government’s initiative to increase the concessional contributions caps for those 60 and older from 1 July this year and for anyone 50 and older from 1 July next year. In 2011, SPAA co-ordinated a joint industry letter calling on the Government to increase the concessional cap [...]
continue readingThe SMSF Professionals’ Association of Australia (SPAA) is urging the Coalition not to defer the increase in the Superannuation Guarantee (SG) if it wins government at the election scheduled for 15 September 2013. The Labor Government increased the SG from 9% to 12% over six years to 1 July 2019, with the first increase of [...]
continue readingThe Association of Financial Advisers (AFA) is hosting three high profile events in June this year to formally launch the ‘Inspire’ initiative to help females find their voice and encourage them to be pro-active in seeking support within the financial services industry. AFA Inspire Chair, Deborah Kent, said the response to the announcement in March [...]
continue readingAfter years of lobbying by the FPA, the terms “financial planner / adviser” are one step closer to enshrinement under law following the overnight tabling of a Parliamentary Joint Committee (PJC) report in Canberra. The PJC was asked to review and provide a report on the benefits of enshrining the terms “financial planner / adviser” [...]
continue readingThe AFA welcomes the fact that the Government has not sought to make any further changes to superannuation in last night’s Federal Budget. Phil Anderson, AFA Chief Operating Officer, said the AFA is pleased that there were no detrimental changes to the superannuation system beyond those previously announced on 5 April this year. “It is [...]
continue readingThe Association of Financial Advisers (AFA) has enhanced its long-running mentoring program and will roll it out across the country later this month in a series of events designed to encourage financial advisers to work together to educate and encourage each other. Fraser Jack, AFA National GenXt Chair, said the AFA’s revitalised mentoring program will [...]
continue readingThe Actuaries Institute has applauded changes announced in this year’s Federal Budget which respond to the Institute’s calls for reforms on two key areas on its policy agenda, most notably longevity risk. This Federal Budget confirmed the pre-announced changes to remove the inequitable tax treatment of deferred lifetime annuities and give them the same tax treatment as [...]
continue readingThe SMSF Professionals’ Association of Australia (SPAA) Head of Technical and Professional Standards, Graeme Colley, says that there are no surprises for SMSF advisors and trustees in the Federal Budget. “The Government announced its intended changes to superannuation before the Budget on 5 April to end the damaging uncertainty that was being caused by speculation around [...]
continue readingThe Federal Budget announcement avoided further big ticket superannuation system tinkering – a point welcomed by the Financial Planning Association (FPA). The FPA also welcomes positive changes announced in respect of the raising of superannuation caps, as recommended by the FPA in its pre-Budget submission. The cap on concessional limits to superannuation will be raised to [...]
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