News

ETFs

JP Morgan launches its first ETFs

JP Morgan ETF

JP Morgan Asset Management has released its first exchange-traded fund products into the Australian market with two active ETFs available on the ASX.

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Superannuation

Double round of indexation likely

TBC indexation

The budget has flagged ongoing high levels of inflation will continue into 2023 and will drive the transfer balance cap up to $1.9 million.

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ATO, Compliance & Regulation

Two penalty unit rises in 2023

penalty units increase

The planned increase in penalty units in the budget is aimed at offsetting bad debts and will be one of two rises planned for next year.

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Residential Property

Property prices set to drop more

property prices fall

Real estate market prices are likely to fall further as the Reserve Bank of Australia continues to raise interest rates to fight inflation.

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Documentation

Two-share corporate trustee flawed

shares SMSF corporate trustee

Trustees and advisers should consider issuing more than two shares in an SMSF corporate trustee to allow the fund to operate more efficiently.

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Investments

New strategies needed after bond, share shift

strategies bonds shares

Investors should be considering alternative strategies given the usual risk-reducing relationship between bonds and shares has been nearly overturned.

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ASIC

CommSec and Ausiex hit with penalties

CommSec Ausiex penalties

CommSec and Ausiex have been ordered to pay a collective fine of more than $27 million for overcharging brokerage fees.

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ETFs

Vanguard amends brokerage fee charges

Vanguard brokerage fees

Vanguard has upgraded its ETF offering by dropping certain fees and will soon release an automatic investment capability to this business arm.

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NALI/NALE, Pensions

Budget silent on NALI, pensions

Budget NALI legacy pensions

The status of changes to NALI and NALE and an amnesty to exit legacy pensions is unknown after the budget did not address these issues.

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Retirement

Health card, deeming rate changes introduced

health card deeming rates

The income threshold for the Commonwealth Seniors Health Card will increase, while deeming rates will be frozen as part of measures contained in the budget.

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