Most Read Contributor in Australia, September 2016
In the media
First MySuper delivers lower fees for
TREASURY – 14 February 2013 - The Minister for Financial
Services and Superannuation has welcomed the first MySuper
application being authorised by APRA. From 1 January 2014, only
those products that meet the MySuper standards will be able to
accept contributions for employees who have not chosen their
superannuation fund (14 February 2013).
Ensuring foreign pension funds can access the managed
investment trust withholding tax regimes
TREASURY – 13 February 2013 - Assistant Treasurer announces
the Government will amend the income tax law to ensure foreign
pension funds can access the Managed Investment Trust (MIT)
withholding tax regime. This amendment will apply from the start of
the withholding tax regime, 1 July 2008, to provide certainty for
industry and investors.
ACSA takes aim at ASIC paper 197
ASCA – 13 February 2013 - Increasing the disclosure
requirements on super funds to include precise itemised content
would increase costs for members, according to the Australian
Custodial Services Association (ACSA).
Stronger Super implementation
ASIC - 14 February 2013 - With key parts of Stronger Super now
law, ASIC have published information for industry to help them
understand the reforms (14 February 2013).
Treasury opens consultation on creating a regulatory
framework for tax advice (financial product)
ASIC - 12 February 2013 - Interested parties are invited to
comment on the Government's draft legislation for a new
regulatory framework for financial advisers who provide tax advice
within the context of providing financial advice.
FPA campaign to help with compliance and
MEDIA – 11 February 2013 - The FPA has announced a campaign
aimed at helping its members through upcoming regulatory and
compliance changes. The association pointed to the recent
Investment Trends FPA Professional Dividend Report in which
planners cited Future of Financial Advice (FOFA) changes as the
main challenge they are currently facing.
Mum and dad investors ousted as institutions consolidate
grip on companies
MEDIA – 11 February 2013 - Retail shareholders entered the
share market rally with their lowest holdings in more than a decade
as institutional shareholders consolidated their hold over the
largest public companies. The increasing concentration of shares in
institutional hands has coincided with the growth in
superannuation, but also with consolidation of industries.
Institutions tighten grip on share ownership, study
AIRA – 10 February 2013 - Large institutions including local
superannuation funds and sizeable offshore investors have
strengthened their hold on Australian listed entities at the same
time that small shareholders have dramatically slashed their
portfolios, a study released today has found.
ASFA announces policy restructure
ASFA – 08 February 2013 - To achieve the most effective
outcomes during this complex time of increased policy issues and
information coordination, ASFA has restructured its policy work and
accountabilities into three areas.
ASFA comment on speculated changes to
ASFA – 07 February 2013 - Amid the current speculation
around changes the Government may make to superannuation taxation
concessions in the upcoming Federal Budget, the Association of
Superannuation Funds of Australia (ASFA) believes it is important
to note the following key points outlined here.
Retirement costs continue slow climb
ASFA – 05 February 2013 - Australian retirees will need to
spend slightly more than this time last year to fund a
'comfortable' and 'modest' standard of living,
according to the ASFA Retirement Standard for the December 2012
quarter, released today.
ASFA Retirement Standard December 2012
ASFA – These figures are up by 2.0 per cent and 2.8 per cent
respectively on the December quarter 2011 figures of $55,249 and
$31,675 a year. In comparison, the increase in the All Groups
Consumer Price Index (CPI) was 2.2 per cent over the year (05
Submission: Repealing Member Protection
The Association of Superannuation Funds of Australia (ASFA) is
supportive of the proposal to repeal the member protection standard
but seeks clarification on the applicability of the Corporations
Act's significant event notification requirements to this
change and the potential need for ASIC relief (13 February 2013).
Current Consultations 2013 Compliance
13 February 2013 was the closing date for comments to the Treasury
on Exposure Draft: Superannuation Industry (Supervision) Amendment
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