This Month
- Analysis
- White collar crime
Inside the push to break up ASIC
ASIC chairman Joe Longo says the corporate cop is finally turning a corner, but there are plenty of critics who think the only answer for ASIC is ‘radical change’.
- Ronald Mizen
‘I’d be rolling over my money’: Murray’s worry on Cbus-CFMEU links
Former bank boss David Murray says the latest CFMEU revelations reaffirm his view that all superannuation board members should be independent.
- Hannah Wootton
‘Another bombshell on tax practitioners’: new rules anger accountants
Labor is being urged to delay implementing the new standards and obligations for accountants and tax agents, who accuse the government of significant overreach.
- Tom McIlroy
June
Meta threatens Australian news ban in media bargaining war
News sites and links could once again be blocked from Meta’s platforms if the social media company is forced to negotiate content deals with local publishers.
- Updated
- Tess Bennett
Calls to ban Facebook and Instagram in Australia
The heads of major media organisations say Meta’s refusal to renew about $70 million in commercial deals with news outlets will likely lead to job losses and newspaper closures.
- Updated
- Hannah Wootton
Labor open to more ASIC funding to deter ‘existential threat’
Labor has increased ASIC’s funding by almost $200 million in the May budget, but the regulator says it needs more money to modernise its enforcement.
- Hannah Wootton
Cbus tops list for super complaints
Cbus also paid $1 million in compensation claims to customers in the first half of the financial year.
- Hannah Wootton
Stephen Jones dodges Dixon’s long tail of woe
The rationale is blacked out, but it’s clear that in early 2023 it was already part of the plan.
- Updated
- Myriam Robin
May
- Exclusive
- Investing
Labor shelves overhaul of ‘sophisticated investor’ test
The changes are said to have been put on ice until at least after the next election, amid fierce backlash from tech start-ups and some funds managers.
- Michael Read
Stephen Jones goes MIA on bill he introduced
When a universally lauded government initiative gets delayed at the last hurdle, it’s usually because of a massive lobbying campaign against it.
- Myriam Robin
Boomer ‘wave’ of outflows starts to hit super
Australia’s biggest retail superannuation funds are paying out billions more dollars in cash than they are bringing in as baby boomers reach retirement age.
- Updated
- Hannah Wootton
Investors to be stung by $250m in new advice fees
A tax office ruling will see investors pay 7.5 per cent more for advice obtained from super funds and platforms, despite government moves to cut advice costs.
- Michelle Bowes
Super funds spend big ahead of advice reforms
As the legislation enabling them to give more financial advice languishes in Canberra, funds are moving ahead with plans to implement it anyway.
- Hannah Wootton
PM’s pension now in the hands of Stephen Jones
Five still-serving Labor parliamentarians will have their pension schemes tweaked by the financial services minister. As will all the nation’s senior judges.
- Updated
- Myriam Robin
Coalition to oppose ‘sophisticated investor’ test overhaul
Labor is grappling with backlash from the start-up sector over calls to limit access to venture capital to investors worth more than $4.5 million.
- Michael Read
April
Start-ups, dentists drain retirement savings in ‘super scam’
The value of super withdrawn for dental treatments nationally jumped 373 per cent to $313 million from 2019 to 2023, and Labor has warned of a potential crackdown.
- Hannah Wootton
Labor will tax super savers twice under proposed ‘wealth tax’: Taylor
Double taxation was “a natural consequence” of Labor’s plan to tax unrealised gains under its proposed tax increase on super balances over $3 million, the shadow treasurer said.
- Hannah Wootton
- Updated
- Social media
Court grants injunction forcing X to take down terror video
The eSafety commissioner won an emergency injunction in the Federal Court late Monday to force Elon Musk’s X to remove videos globally of last week’s Sydney terrorist attack. But the order has limited application.
- Tess Bennett, Tom McIlroy and Nick Bonyhady
- Exclusive
- Class action
Business slams class action lawfare firms
Business groups warn shareholders could be hit with billions of dollars in lawsuits backed by deep pocketed hedge fund investors under the Albanese government’s free-for-all class action setting.
- Ronald Mizen
Insurers told to slash prices for households that reduce risks
Steps could include roof replacement, upgrading garage doors, boosting window protection, tying down sheds, and replacing flimsy hollow doors.
- Ronald Mizen, John Kehoe and Paul Smith