Conflicted remuneration to stay under Government ‘rebate’ proposal

Superannuation industry bodies have strongly criticised a proposal by the Government to continue to allow conflicted remuneration, despite adopting a Banking Royal Commission recommendation. The final report of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry recommended that “grandfathering provisions for conflicted remuneration should be… Read More »Conflicted remuneration to stay under Government ‘rebate’ proposal

United Australia Party likely to oppose franking credit change

The United Australia Party is likely to join a number of other minor parties in opposing Labor’s policy to stop refunds of franking credits. “I support franking credits,” says United Australia Party (UAP) Senator Brian Burston on his website. “Retirees should have franking credits, regardless of income.” Under Labor’s policy… Read More »United Australia Party likely to oppose franking credit change

Treasury consults on binding nominations and kinship structures

Treasury is consulting on potential changes to superannuation binding death benefit nominations to reflect kinship structures. The final report of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry noted that there are questions over if a binding death nomination can be made that reflects kinship… Read More »Treasury consults on binding nominations and kinship structures