Archived News for Finance Sector Professionals
Superfund members will benefit from the Federal Government tax relief that enables superfunds to merge without triggering adverse tax consequences that would hit members' savings, according to estimates released by the Government.
The Government will implement changes to the income tax law to support the implementation of its MySuper reforms by encouraging fund mergers that lower fees and costs for members.
"The Gillard Government is reforming superannuation so that fees and costs are lower. The tax relief announced today removes a barrier that would have prevented otherwise sound superfund mergers from proceeding," the Minister for Financial Services and Superannuation Bill Shorten said.
Vada releases credit index
Commercial and consumer data intelligence specialist Veda has released its quarterly Consumer Credit Demand Index for the first quarter of 2012, showing a continued decline in consumer credit demand.
CPI increases 0.1%
The Consumer Price Index (CPI) increased 0.1% in the March quarter 2012, compared with no change in the December quarter 2011.
Hays Quarterly Report: Accountancy & Finance - Commerce & Industry
Global recruitment specialist Hays has released its quarterly report into recruitment trends for the April – June 2012 quarter.
Hays Quarterly Report: Accountancy & Finance - Public and Private Sector
Global recruitment specialist Hays has released its quarterly report into recruitment trends for the April – June 2012 quarter.
Hays Quarterly Report: Hays Accountancy & Finance - Financial Services
Global recruitment specialist Hays has released its quarterly report into recruitment trends for the April – June 2012 quarter.
Australia's leading gold producer and explorer announces new CFO
Focus Minerals Ltd., a leading Australian gold producer and explorer, has announced the appointment of Paul Fromson as the Company’s new Chief Financial Officer and Company Secretary following the resignation of current CFO Jon Grygorcewicz.
Draft released for tax law affecting consolidated groups
The Federal Government has released an exposure draft of amendments that will implement changes to income tax law affecting consolidated groups.
Government releases final CFR report
The Federal Government has released the final report of the Council of Financial Regulators (CFR), outlining the proposed next steps towards fully implementing Australia's G20 commitment to improve risk management and reduce systemic risk in the 'over-the-counter' (OTC) markets for financial derivative products.
Government releases super security draft legislation
The Federal Government has released draft legislation aimed at helping protect worker's superannuation entitlements.
BoQ slips into the red
The Bank of Queensland has released its official results for the first half of the financial year, with the company posting a $90.6 million loss.
Positive results from IMF's World Economic Outlook
The IMF's World Economic Outlook (WEO) confirms that our economic fundamentals are strong with the Australian economy expected to outperform every major advanced economy over the next two years.
Super chief calls for RBA review
Speaking on ABC’s AM radio show, Garry Weaven calls on the Federal Government to rewrite the Reserve Bank’s charter so to start healing a damaged economy.
Payne takes the financial reins at NBN Co
The National Broadband Network Co (NBN Co) has announced Robin Payne as the company's new Chief Financial Officer (CFO), officially placing him in the role he has served in since January following the retirement of Jean-Pascal Beaufret.
Brian Wilson to chair FIRB
The Federal Government has appointed Brian Wilson as the Chair of the Foreign Investment Review Board for a five-year term starting on 16 April.
CFR releases financial reform recommendations
The Council of Financial Regulator has released its recommendations on reforms to the oversight of the country’s financial market infrastructure to ensure continued protection for investors, businesses and market participants.
Commissions release trans-Tasman integration paper
The Australian and New Zealand Productivity Commissions have released a joint issues paper for their inaugural study on options to further enhance integration between the Australian and New Zealand economies.
Davis to head ANZ Japan
ANZ has announced Peter Davis as the company’s new CEO in Japan, following his promotion from Global Head of Utilities and Infrastructure at ANZ.
Stop the bank bashing says ANZ chief
Chief Executive of ANZ Phil Chronican has expressed his confusion with Australia’s ongoing campaign against banks and the pay packages of their executives.
Everybody's working on the weekend
The Commonwealth Bank, ANZ Bank, Westpac and GE Money have applied to Fair Work Australia to include weekends in the definition of ordinary hours of work under the banking, finance and insurance award, arguing that it would promote flexibility in the workplace.
RBA keeps rates steady
The Reserve Bank of Australia has announced it has kept the country’s official cash rate unchanged at 4.25 per cent, citing recent information surrounding the world economy.