FSC calls on Commission of Audit to recommend raising the preservation age

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The Financial Services Council will be calling on the Commission of Audit to recommend raising the preservation age for superannuation to relieve the increasing strain on the economy as the... Read more continue reading

SPAA submission to ASIC takes issue on SMSF costs

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The SMSF Professionals’ Association of Australia (SPAA) has questioned the cost findings of the actuarial firm Rice Warner in its submission to ASIC on Consultation Paper CP216. The SPAA submission,... Read more continue reading

FPA calls on ‘branch and root’ Financial System Inquiry to leave recent financial advice reforms time to germinate

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The FPA has welcomed the release of the Coalition Government’s terms of reference to the upcoming Murray Inquiry, but says any more financial advice reform should be off the table.... Read more continue reading

Financial system inquiry is pivotal for the industry’s evolution

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The draft terms of reference for the financial system inquiry announced by the Prime Minister and Treasurer last night, provide a framework for the evolution of Australia’s financial services industry... Read more continue reading

SPAA backs ASIC move to improve standard of advice – but says compensation warning ‘too simplistic’

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The SMSF Professionals’ Association of Australia (SPAA) has outlined its stance on the disclosure of SMSF risks in its submission to ASIC on Consultation Paper CP216. SPAA CEO Andrea Slattery... Read more continue reading

SPAA says competency test for trustees ‘elitist’

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The notion that SMSF trustees should have a “competency test” as suggested by the visiting European financial literacy specialist Robert Holzmann has been rejected by the SMSF Professionals’ Association of Australia... Read more continue reading

FPA recommends improved regulatory measures for ASIC in Senate inquiry submission

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In a submission to the Senate Economics Committee inquiry into the performance of ASIC, the FPA has recommended several measures to improve the efficacy of the regulatory body. Some of... Read more continue reading

SPAA backs ASIC warning on SMSF property investment

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The SMSF Professionals’ Association of Australian (SPAA) fully supports the ASIC statement issued on Wednesday that strongly warns the real estate industry about agents recommending investors to use an SMSF... Read more continue reading

FSC’s response to Government’s abolishment of $100k superannuation measure

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“The Government is returning certainty and stability to superannuation policy,” John Brogden, CEO of the Financial Services Council said today in response to the announcement by Joe Hockey and Arthur... Read more continue reading

Government’s tax announcements welcome

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The Association of Financial Advisers (AFA) has welcomed the Government’s announcement which unwind some of previous Labor Government’s taxation changes, including taxes on individual superannuation pension earnings over $100,000 and... Read more continue reading