Tag: financial planning book
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ASIC Cracks Down on Superannuation Advisers for Breach Reports
ASIC has been cracking down on financial advisers providing poor superannuation advice, leading to clients exceeding contribution caps and facing higher tax payments. The regulator’s Financial Services and Credit Panel (FSCP) has held panels from July to October 2024 to address breach reports submitted by Australian Financial Services licensees. ASIC expressed concerns that advisers were…
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Treasurer Jim Chalmers Stands Firm on Superannuation Tax Plan
In a bold move, Treasurer Jim Chalmers remains resolute in his superannuation plan despite mounting criticism. The planned tax hike on large superannuation nest eggs has sparked controversy, with Chalmers standing firm against demands to adjust the $3 million threshold for the tax increase. The Coalition argues that the government may need to resort to…