Govt caves in to Coalition on TASA
The Federal Opposition is claiming victory on the Tax Agents Services Act, with Shadow Assistant Treasurer, Senator Mathias Cormann, saying the Government has conceded to all of the Coalition’s demands on the legislation such that it will now support its passage through the Parliament.
The Government’s concessions have been confirmed in a letter to Cormann from the Assistant Treasurer, David Bradbury with key amongst them being a further 12 month extension of the exemption for financial planners.
The legislation is now expected to pass both houses before Parliament rises at the end of next week.
AUTHOR
Mike Taylor
Recommended for you
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
Having peaked at more than 40 per cent growth since the first M&A bid, Insignia Financial shares have returned to earth six months later as the company awaits a final decision from CC Capital.
