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Posted on Jul 26, 2016

Why women have significantly small super balances in retirement, KPMG

 

The great super imbalance: Women earn less, often for the same work, have additional responsibilities which result in career and superannuation contribution breaks, and live longer in retirement. It is then not surprising that women have, on average, significantly smaller super balances to rely on in retirement, according to KPMG’s Paul Howes.

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Posted on Jul 12, 2016

Treasury financial institutions supervisory levies not much chop, AIST

The Australian Institute of Superannuation Trustees has labelled Treasury’s consultation paper on proposed financial institutions supervisory levies as insufficient and non-compliant with government guidelines. It also said cost recovery proposals for SuperStream do not detail who should contribute to the levies – ie SMSFs.

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Posted on Jun 28, 2016

SMSF trustees need to review minimum pension requirements for EOFY now, RSM

Super year-end planning and pensions: A key feature of a superannuation fund paying pensions is that the earnings on the assets supporting the pensions are not subject to income tax.  This can result in the interest, dividends, rent, capital gains and other income of the fund being tax-free.  A fund is also eligible for a refund of any excess franking credits on dividends received.

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Posted on Jun 21, 2016

Why more than digital disruption is changing the insurance industry, KPMG

Why insurance sector faces unprecedented change: Insurers are no strangers to change. Even so, the past decade has been fairly tumultuous: new and more stringent regulatory requirements, changing customer demands and expectations, increasing competitive pressures and disruptive technologies and business models are all combining to create an era of unprecedented change for the insurance sector.

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Posted on Jun 7, 2016

Why government’s superannuation changes won’t help retirees, CPA

Why government’s superannuation changes won’t help retirees, CPA

Super changes won’t help retirement: The Government’s insistence that its superannuation changes will only affect a small percentage of Australians is wrong according to a new poll by CPA Australia. The proposed changes are retrospective and far reaching, and will deliver neither certainty nor security for people planning their retirement.

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Posted on May 31, 2016

Grant Thornton asks whether Robo automated advice is possible in Australia’s financial services industry?

Is Robo advice possible in Australia? Robo advice driven by algorithmic routines has captured the imagination of the wealth management industry. However, ASIC has sought to temper the development of automated advice by imposing conditions on financial services industry participants to have a responsible person overseeing the provision of advice and managing the technology.

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Posted on May 24, 2016

Banks need to help Australian companies expand offshore, East & Partners

Foreign exchange volatility for SMEs:  The falling Australian dollar offers excellent opportunities for businesses wanting to diversify into new offshore markets. Yet the overwhelming majority of SMEs are acutely unaware of the significant downside risk posed by a marginal rise in foreign exchange volatility. This can negatively affect a company’s bottom line much more severely than expected. With margins aggressively tightening in most industries, managing foreign exchange exposures appropriately is often the critical factor in successfully achieving sustainable growth. This challenge presents an opportunity for banks, brokers and new entrants alike to address the yawning knowledge and experience gap preventing broader adoption of fit-for-purpose hedging strategies to better support and protect those Australian businesses expanding abroad. Martin Smith is head of markets analysis at East & Partners

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