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Take care with personal super contributions

ATO launches disqualified trustee register

The Australian Taxation Office has established a disqualified self-managed super fund trustee register that will…

ATO unhappy with SMSF reporting

The Australian Taxation Office has warned that it is seeing “many errors” in reports it…

Shopper’s guide to ‘buy now pay later’

Competition is heating up in the ‘buy now pay later’ market with the arrival of Flexigroup’s new brand humm. The interest-free buy now pay later platforms such as Afterpay, Zip Co, Openpay and Brighte allow consumers to spread the cost…

Prospa IPO a high-risk proposition

The most notable item in the Prospa Group prospectus, which was released on Friday, is that the online small business lender’s impairment charge last financial year was the equivalent of 12.5 per cent of average gross loans. Another eye-catching number…

Clock is ticking on inactive super accounts

A series of superannuation measures, designed to protect members with low balances or inactive accounts, will take effect on July 1. For some there will be a catch: they will lose their life insurance cover. The new law introduces a…

Variable home loan rates tumble

ME Bank is the latest lender to cut variable home loan rates, joining Macquarie, ANZ, AMP and Bendigo Bank in offering lower variable rates to owner-occupiers and investors. Last week, ME cut its principal and interest variable mortgage rate for…

Infrastructure income fund takes flight

Fund manager RARE Infrastructure has added Sydney Airport to its Infrastructure Income Fund portfolio, which is designed to produce income from a wide range of global infrastructure assets. RARE likes what it describes as Sydney Airport’s “dual-till” revenue model. Its…

The cost of better customer outcomes hits CBA

Customer remediation costs are not the only consequence for the banks from their misconduct. As the latest Commonwealth Bank financial report reveals, changes to fees and charges are having a big impact as well, and they will be longer lasting.…

Take care with personal super contributions

Personal superannuation contributions were introduced into the system a couple of years ago as a simple way for people to top up their super and claim a tax deduction. They complement super guarantee contributions, salary sacrifice arrangements and non-concessional contributions.…