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Who is in APRA’s crosshairs?

  • On 22/03/2018
The superannuation industry is busy dealing with several significant inquiries, including: The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry. The continuing Productivity Commission review of the efficiency of the superannuation system. The Parliamentary Joint Committee inquiry into life insurance as well as implementation of the code of practice for life […]
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Rebates of Dividend Imputation

  • On 14/03/2018
Dividend Imputation was introduced 30 years ago to avoid the double taxation of company dividends.  Australian companies provide a franking credit for the tax which they have paid and this is attached to the dividend.  The system was made more generous from July 2000 when the franking credits became refundable if they exceeded the owner’s […]
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Recovering lost super can improve retirement incomes bit by bit

  • On 15/02/2018
It is difficult to count the number of Australians with a superannuation or pension account as there are many living or travelling abroad who have some superannuation back home.  ATO figures show that around 40% of some 15 million Australians they have identified hold more than one superannuation account.  Some people have a need for […]
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Life insurance adequacy

  • On 08/02/2018
Life insurance in Australia is sold through three different channels, all of which are under scrutiny.  Direct sales fill some needs but they are often relatively poor value, as evidenced by the current ASIC investigation into this segment.  Similarly, intermediated retail sales are comprehensive but profitability has been challenging for most life companies in recent […]
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More complexity for means-testing of the Age Pension

  • On 25/01/2018
When the Financial System Inquiry published its final report in November 2014, it introduced the concept of Comprehensive Income Products in Retirement (CIPRs).  These retirement income streams would have the objective of allowing retirees to pool mortality risks while increasing the amount of their pension payments, and therefore their living standards. Despite a lengthy consultation […]
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