Concerns about consumers paying fees for financial planning advice or other services but not getting the service they were promised, a central issue for the Hayne Royal Commission, have not gone away. Despite all the promises from financial institutions that…
Negative equity incidence ‘low’ and not a risk
The Reserve Bank has rejected suggestions coming from some quarters that around 10 per cent of mortgage borrowers are in negative equity. A review of house price falls and negative equity in RBA’s latest Financial Stability Review says the incidence…
Comparison site accused of making false representations
The Australian Competition and Consumer Commission has started proceedings in the Federal Court, claiming that iSelect made false or misleading representations in relation to its energy plan comparison service. The ACCC alleges that since at least November 2016, iSelect has…
Octopus renewables investment provides 20 per cent tax offset
Asset manager Octopus Investments, one of Europe’s leading investors in renewable energy, has turned its attention to the Australian market, where it believes there will be significant investment in renewables over the next 30 years. It has launched Octopus Early…
Bennelong adds REITs to the mix
Fund manager Bennelong Australian Equity Partners is best known as an investor in growth stocks that tends to avoid safe blue chips, infrastructure stocks and utilities. But in a surprising move the Bennelong Australian Equities Fund has built up a…
ATO to shut down ‘inexperienced’ SMSF auditors
The Australian Taxation Office has issued a warning that self-managed super fund auditors need to have performed audit work regularly to maintain the practical experience necessary to do their job properly. The ATO says it is writing to about 100…
Q&A
Q: What is the Labor Party’s position on the tax changes the Government announced in the Budget? A: Labor leader Bill Shorten said in his Budget-in-Reply speech that Labor would not support the changes to personal income tax rates that…
Clearing the legislative logjam: what it means for investors
Consumers will soon start to feel the impact of a changed regulatory landscape. The government got a fair number of bills passed last week that will have an impact on the financial services industry, going some way to implementing its…
Unconscionable borrowing
There has been plenty of focus on banks’ treatment of their customers recently but a court case has focused on the obligation borrowers have to act fairly in dealing with their bank. In this case borrowers took advantage of an…