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The Australian Parliamentary Review

2020-01-15T01:21:22+00:00December 1st, 2019|Uncategorized|

The Australian Parliamentary Review showcases organisations considered as exemplifying ‘best practice’ in their given industry. The review submissions are used as a learning tool to the public and private sector, in particular to those in financial services. The 2018 Finance Review was sent out to over 35,000 leading policymakers including members of the House of Representatives, Senators, [...]

So WHAT IS A Defined Benefit (DB)/Final Salary Transfer?

2018-02-09T00:22:18+00:00January 31st, 2018|Uncategorized|

Firstly, a final salary pension is an investment vehicle that was often used as a recruitment tool, usually funded by contributions from both employer and employee and provides a number of benefits upon retirement that are promised by the employer. A final salary transfer is the name given to the process of transferring the value of [...]

Pension cold callers who prey on the elderly will be banned, Philip Hammond to announce

2018-01-28T12:29:47+00:00November 19th, 2016|Uncategorized|

Pension cold callers who prey on the elderly and trick them into giving up their life savings will be banned, the Chancellor will announce next week. More than 11 million pensioners are being targeted annually by cold callers with fraudsters making 250 million calls a year – equivalent to eight every second. Philip Hammond, the Chancellor, [...]

Brexit 2016: A FinSec Comment

2018-01-28T12:30:05+00:00June 28th, 2016|Uncategorized|

This is not the update we expected to be sending. We have now had a few days to digest the fallout from a remarkable referendum result. The world is looking at Britain and asking: What on earth has happened? Those tasked with running Britain are asking the same question. Trillions have been wiped off the sharemarkets [...]

Federal Budget 2016/17: A FinSec Verdict

2018-01-28T12:30:21+00:00May 26th, 2016|Uncategorized|

The Less is More Budget Scott Morrison’s maiden budget speech was the first since Peter Costello’s debut 20 years ago that did not include the word ‘surplus’ an unreported, but perhaps telling, fact. It is no secret that the 2016 Federal Budget made negligible progress on improving Australia’s bottom line. Projecting a small surplus way out [...]

The 2016/17 Australian Federal Budget

2018-01-28T12:30:41+00:00May 26th, 2016|Uncategorized|

For us, the big story out of Budget 2016 is of course Morrison’s crackdown on high-end super tax concessions. Ten years on from Costello’s tax-free super savings and now, on the other side of the resources boom, Morrison has redefined the purpose of super as a substitute or supplement to the welfare safety net of the [...]

Her Majesty’s revenue and customs, a timeline of change

2020-04-28T06:32:46+00:00April 20th, 2016|Uncategorized|

Far-reaching changes were made by Her Majesty’s Revenue and Customs (HMRC – the UK tax office) in April 2015 disallowing thousands of migrants from transferring their UK pension funds to Australia. Representation continues with HMRC and full detail is available from Scott. Key points are: April 2015 – The Pension Age test was introduced by HMRC [...]