federal budget

Superannuation

Balanced superannuation funds have returned 14.5% over the 2020-21 financial year to date thanks to an improving economic situation and confidence in state and federal va...

Policy & Regulation

Treasurer’s office insists ASIC will have more, not less staff

Treasurer Josh Frydenberg’s office is arguing that the Australian Securities and Investments Commission has not missed out on staffing resources in the Budget. ...

Policy & Regulation

Budget points to fewer staff within ASIC

While the other regulators grew their staff numbers, the Budget papers point to a net loss for ASIC. ...

Life/Risk

TAL welcomes focus on legacy life products

The life insurer supports the Government’s plan announced in the Budget to develop a streamlined mechanism to transfer life insurance customers from old legacy products t...

Policy & Regulation

Mid to high income earners get most benefit from Budget

New NATSEM modelling points to mid to high income earners doing best from the Government’s extension of the low and middle income tax offset. ...

Funds management

Govt decisions during recession are ‘good news’ for markets

Decisions made by the Government have been good news for markets as they may prevent repeat problems that have come from prior recessions, according to Yarra Capital Mana...

Policy & Regulation

Accountants back industry funds on early release recontributions

CPA Australia has not only backed industry funds on urging the Government to use the Budget to allow early release superannuation top-ups but has also backed funding a th...

Superannuation

ISA wants super funds and unions delegated to pursue SG debts

Industry Super Australia has suggested that the Australian Taxation Office delegate superannuation funds and trade unions to pursue superannuation guarantee debts from re...

Funds management

Politics doesn’t slow All Ords

Politics has not managed to sway the All Ordinaries Index, as it continued to rise despite the Federal Budget announcement and the RBA’s interest rates discussion, accord...

Superannuation

Positive changes for SMSF sector in Budget

The SMSF Association has welcomed the Government’s proposed changes regarding calculating ECPI and increasing the age where the work test for making contributions to supe...

Financial planning

FPA warns on fee increases post-Budget

The Financial Planning Association has welcomed last night’s Federal Budget, but cautioned that using ASIC’s industry funding model to pay for implementing Royal Commissi...

Superannuation

Minimal super changes welcomed by Actuaries

A positive budget outlook should spur important long-term policy direction, according to the Actuaries Institute....

Policy & Regulation

Budget surplus to improve consumer spending

With the Government last night announcing the Federal Budget is in a $7.1 billion surplus, Martin Currie’s chief investment officer, Reece Birtles, expects consumer spend...

Policy & Regulation

Few Budget surprises in financial services

The financial services industry has delivered the Budget a muted response in circumstances where the Treasurer, Josh Frydenberg, had announced most of the Government’s fi...

Policy & Regulation

Budget delivers on ASIC and APRA funding

The Government has confirmed its funding promises with respect to the Australian Securities and Investments Commission and the Australian Prudential Regulation Authority....