News Archives

Thu, 28 Aug: Australian real wages have hit a challenging plateau, currently trailing 6.1% below their mid-2022 'covid-bubble' heights. The Reserve Bank of Australia's (RBA) recent Statement of Monetary Policy provides little solace, projecting that real wages will stay 5.5% beneath their peak by the close of 2027. This comes amidst SEEK's latest advertised salaries index, which paints a picture of slowing wage growth. - read more

Thu, 28 Aug: The Australian Securities and Investments Commission (ASIC) has launched civil penalty proceedings in the Federal Court against Equity Trustees Superannuation Limited. The regulator alleges that the company neglected its due diligence obligations concerning the inclusion of the Shield Master Fund in its investment offerings, potentially compromising the retirement savings of thousands of Australians. - read more

Thu, 28 Aug: The latest inflation figures from the Australian Bureau of Statistics have disrupted expectations for a rate cut by the Reserve Bank of Australia (RBA) in September. July's monthly CPI inflation escalated to an annual rate of 2.8%, rising significantly from June's 1.9% and outstripping forecasts from multiple market analysts. This unexpected inflationary surge is mainly attributed to a dramatic 13.0% hike in electricity prices and robust travel costs. - read more

Thu, 28 Aug: Insurance premiums for group life policies with long-term benefits have surged between 15% to 25% on average in the first half of the year, according to a mid-year market update from Marsh Australia. While the steepest increases affected those with adverse claims experiences, short-term rates and premiums for permanent disabilities remained relatively steady. The sector has also become more selective, with insurers adopting stricter underwriting standards, particularly eschewing high-risk industries. - read more

Thu, 28 Aug: The federal government's initiative to accelerate housing development by relaxing certain building regulations has raised alarm within the insurance sector. Housing Minister Clare O’Neil announced changes on social media, indicating a strategic pause on parts of the National Construction Code to expedite building approvals and encourage the construction of much-needed homes across Australia. This move comes in response to challenges in the approval process, which often delays construction. - read more

Wed, 27 Aug: The debate around integrating social media with financial advice continues to stir among industry professionals. However, Ben Nash, founder of Pivot Wealth, champions this blend as he harnesses platforms like Instagram and TikTok to educate and engage. With a following of 130,000, Nash uses social media to prepare potential clients for the advice process, offering them insights into his philosophies. - read more

Wed, 27 Aug: The ongoing postponement of the Division 296 legislation is escalating frustration within Australia's finance and superannuation sectors. Treasurer Jim Chalmers has indicated no immediate plans to reintroduce the bill, asserting on the ABC Insiders program that the necessary calculations for the tax would not commence until mid-2026. He emphasised that there's ample time to reintroduce the legislation and assured that concessional tax advantages for retirees remain unchanged. - read more

Wed, 27 Aug: A new federal scheme, designed to lower the demand for lenders’ mortgage insurance (LMI), may inadvertently escalate home prices and hinder lower-income earners' ability to purchase property, according to concerns raised by Australian insurers. The Home Guarantee Scheme, set to expand in October, offers first-time buyers the opportunity to bypass the usually required LMI if they have managed a deposit of just 5%. - read more

Wed, 27 Aug: RACQ Insurance has been instructed to bolster a payout to a customer following a ruling by the Australian Financial Complaints Authority (AFCA). The dispute arose after the insurer's handling of a house fire claim lodged by a woman in October 2023 was found lacking. The fire, initiated by scented candles, resulted in significant fire and smoke damage to her home. - read more

Tue, 26 Aug: This week commenced with a notable event on the Australian sharemarket as the ASX 200, despite an early surge reaching a new record intraday high of 9054 points, saw its gains reversed by declines in major banking stocks. By the close of the trading day, the benchmark index managed to eke out a gain of 5 points or 0.06%, settling at 8972.4, while the broader All Ordinaries index rose slightly by 0.12% to 9245 points. - read more

Tue, 26 Aug: The transfer of wealth across generations is presenting a significant opportunity for financial advisory practices to integrate a younger workforce. As substantial sums of money move to a new generation, the need for equipped young advisers is evident. Justin Gilmour of Integro Private Wealth highlights the potential of younger advisers in preparing the next generation to manage family wealth, underlining the importance of enhancing financial literacy among clients' children. - read more

Tue, 26 Aug: The Australian government, led by Treasurer Jim Chalmers, has indicated a willingness to make adjustments to the annual superannuation performance test, amidst growing concerns from the industry and independent experts. This move is intended to address fears that the current test discourages funds from pursuing investments deemed in their members' best financial interests. - read more

Tue, 26 Aug: The Australian federal government has announced an earlier implementation of its expanded program guaranteeing low-deposit loans for first-time home buyers, set for October. This program aims to eliminate the need for lenders' mortgage insurance (LMI) by allowing first-home purchasers with just a 5% deposit to enter the market. Previously planned for next year, the revamped policy also removes income caps and raises property price limits. - read more

Tue, 26 Aug: The Australian Securities and Investments Commission (ASIC) has spotlighted significant shortcomings in the direct sale of life insurance products, urging the industry to reassess its sales practices. The recent review unearthed ongoing issues with remuneration structures, indicating that some insurers still link commissions to sales targets, potentially fostering aggressive sales tactics. The study further revealed a troubling rise in claims disputes, with reported cases more than doubling since 2018, raising concerns about the transparency and trustworthiness of these policies. - read more

Mon, 25 Aug: In a bold entrepreneurial move, 20-year-old Naythen Lindsey took the plunge into business ownership by purchasing a Kwik Kopy franchise in Hornsby, Sydney. Lindsey's acquisition, which marked him as the youngest franchise owner in the Kwik Kopy Network, came after years of working with the brand, initially under the mentorship of his father, himself a franchise owner. Despite the challenges expected from his youthful age, Lindsey was compelled to prove himself, especially after the franchise's supportive response to his ambitions. - read more

Mon, 25 Aug: Sydney's Sofitel Wentworth played host to the illustrious 2025 Australian Wealth Management Awards on 22 August. The prestigious event celebrated the foremost professionals and innovators in the wealth management sector across the nation. With over 400 advisers, executives, and industry leaders in attendance, the awards highlighted significant achievements and encouraged networking amongst the elite of the field. - read more

Mon, 25 Aug: In Australia, approximately 60 per cent of superannuation fund members are enrolled in default MySuper options. While this might appear convenient, financial adviser Robert Rich from Unite Wealth rings an alarm bell about the often overlooked, damaging impact of elevated fees associated with these default options. - read more

Mon, 25 Aug: A significant financial shift is on the horizon for Australian households. After years of stringent budgeting, new data suggests a revitalisation in household spending, thanks to recent interest rate cuts and tax relief measures introduced last July. - read more

Mon, 25 Aug: A recent ruling by the Australian Financial Complaints Authority (AFCA) has upheld an insurer's decision to impose an additional $2000 excess on a property policy, following a dispute raised by a policyholder over claims history impacts. - read more

Fri, 22 Aug: The Australian Securities Exchange (ASX) 200 has surged to an unprecedented climax, crossing the notable 9000-point mark for the first time. Fueled by a broad-based rally, the ASX 200 climbed 101.1 points, or 1.1%, ending at 9,019.10, with the broader All Ordinaries index up 106.80 points, or 1.16%, to 9,284.20. This milestone marks the seventh record high in just nine trading sessions, signifying substantial growth from 8000 points in just over a year. - read more

Fri, 22 Aug: Treasurer Jim Chalmers has indicated a possible shift in tax policies aimed at addressing intergenerational equity, possibly impacting wealthy retirees. He hinted at reform initiatives that could see a reduction in superannuation tax breaks for affluent individuals to fund potential tax cuts for working Australians. - read more

Fri, 22 Aug: The Australian Dollar (AUD) is experiencing increased pressure as uncertainties surrounding the Federal Reserve's stance on interest rates and U.S. economic growth persist. Meanwhile, the U.S. Dollar Index (DXY) maintains its strength, creating a challenging environment for the AUD. The Federal Reserve recently shared insights that inflation remains above its long-term goal of 2%, with notable impacts from tariffs influencing goods price inflation. - read more

Fri, 22 Aug: The Australian Financial Complaints Authority (AFCA) has decided against a man's claim for a car insurance payout, which he pursued following a dispute with his ex-wife. The issue arose when the man's Toyota Landcruiser was involved in an accident in April, prompting him to file for a cash settlement of $55,950. However, the ex-wife, who held the insurance policy, later blocked his access to the payout. - read more

Fri, 22 Aug: The Australian Prudential Regulation Authority (APRA) has highlighted the ongoing challenges of home insurance affordability, emphasizing that the issue remains complex despite a recent moderation in reinsurance costs. APRA Chair John Lonsdale noted that multiple factors contribute to this difficulty, not solely reinsurance expenses. APRA is actively engaging with insurers, government agencies, and the private sector to address these affordability issues. - read more

Thu, 21 Aug: In a noteworthy shift, the 2023 ASX Australian Investor Study has challenged traditional assumptions about investment priorities across different age groups in Australia. The study reveals that a significant portion of younger investors, specifically those aged between 18 and 49, place a high priority on generating a sustainable income stream. - read more

Thu, 21 Aug: The recent release of the Treasury's proposed best practice principles for retirement income solutions marks a significant potential shift in Australia's superannuation landscape. These guidelines are crafted to guide fund trustees in developing retirement income strategies that provide members with better financial support upon retirement. - read more

Thu, 21 Aug: The Australian federal government's economic reform summit in Canberra is drawing attention with discussions on major tax overhauls, specifically scrutinising negative gearing as part of a broader suite of fiscal reforms. As the three-day summit reaches its final discussions, key elements such as tax reform and budget sustainability are at the forefront. - read more

Thu, 21 Aug: The Australian Securities and Investments Commission (ASIC) has issued a call to action for life insurance companies, urging them to enhance their product offerings and sales processes. While acknowledging some progress since the Hayne Royal Commission, ASIC highlights ongoing issues within the industry. The regulator emphasized the importance of centering strategies around customer needs, particularly as companies aim to expand direct-to-consumer sales. - read more

Wed, 20 Aug: Australia's real wages have experienced a significant decline, marking a record 7.3% drop between mid-2020 and the September quarter of 2023. Despite a modest recovery of 1.3%, wages remain 6.0% below their peak as of mid-2025. - read more

Wed, 20 Aug: AMP has announced a strategic partnership with the University of New South Wales (UNSW) aimed at integrating artificial intelligence (AI) into the financial advice process. This collaboration is poised to develop practical solutions designed to boost Australians' financial confidence as they approach retirement. - read more

Wed, 20 Aug: In a surprising downturn, the Australian dollar has faced a significant setback as market risks amplify. The DXY is showing strength, while the Chinese yuan remains stable. Gold markets exhibit fragility, and other metals signal caution with sustained bearish trends in the mining sector. Emerging markets have faced challenges, but junk bonds and yields appear resilient. Stock markets, however, took a hit amid the nervous financial climate. - read more

Wed, 20 Aug: The Australian Securities and Investments Commission (ASIC) has released findings from a recent review, revealing persistent deficiencies in the direct sales practices of the life insurance industry. Despite heightened scrutiny following the Hayne Royal Commission, challenges remain in several key areas, including product design, sales strategies, remuneration, and customer complaint handling. - read more

Tue, 19 Aug: Recent market analyses reveal a striking contrast in investor behaviors and sentiment. Despite bearish undertones from market sentiment surveys and hedge fund positioning data, there remains a robust wave of purchasing activity. This dichotomy underscores the complexity of current market dynamics. - read more

Tue, 19 Aug: The proposed superannuation tax targeting balances over $3 million—a plan announced by the Australian government over two years ago—remains in legislative limbo. Known as Division 296, the measure calls for an additional 15% tax on large super balances, but it is yet to become law. As Parliament reconvenes, there is keen interest to see whether the proposal will be advanced. - read more

Tue, 19 Aug: Life insurers in Australia have joined forces with mental health advocates to press the federal government to honour its $1 billion pledge for mental health initiatives. The Council of Australian Life Insurers (CALI) is among the key signatories of an open letter organized by Australians for Mental Health, urging swift action on funding allocation. - read more

Tue, 19 Aug: At the close of 2024, Cotality, the company formerly known as CoreLogic, reported that both the national dwelling value to income ratio and the income percentage needed for a new mortgage hit unprecedented highs. According to Cotality's housing report for July, the median dwelling value in Australia's capital cities was $926,854. Sydney and Brisbane, with median values of $1,228,435 and $934,623, respectively, were noted as the most expensive markets, reflecting impressive growth over the past five years. - read more

Tue, 19 Aug: The Insurance Council of Australia (ICA) has aligned with a coalition of business groups urging the government to cut red tape ahead of the Economic Reform Roundtable hosted by Treasurer Jim Chalmers. The 27-member strong alliance is pushing for reforms that focus on increasing investment, fostering innovation, reducing red tape by 25% by 2030, and enhancing major project approvals. Additionally, they are advocating for tax reforms that won't adversely impact consumer or business costs. - read more

Mon, 18 Aug: QBE Insurance Group has introduced significant enhancements to its commercial landlords industrial special risk product, providing brokers with new add-ons designed to better support their clients. With the addition of features like rent default cover for up to 52 weeks, tax audit protection coverage up to $25,000, and breakdown cover for machinery and electronic equipment, the insurer is equipping intermediaries with tools to improve client offerings. - read more

Mon, 18 Aug: Entrepreneur Ashli Templer has taken a unique approach to family financial planning by contributing to her husband Luke's superannuation. As the primary earner, she deposits money into his fund quarterly since he became a stay-at-home parent after their daughter was born. This decision, initially met with surprise, illuminates a broader issue faced by many Australian families where one partner foregoes income, and consequently super contributions, to focus on childcare. - read more

Mon, 18 Aug: Australia stands on the cusp of a significant transition involving the retirement of a substantial portion of its population and the vast transfer of wealth that follows. With the “bank of mum and dad” serving as a pivotal means for young Australians to access financial support, many parents in their later years look to assist their children. - read more

Mon, 18 Aug: Last week, the Reserve Bank of Australia (RBA) made its third rate cut this year, lowering the official cash rate by 0.25% to 3.60%. Historically, such rate reductions have been linked to a significant rise in Australian home values, with double-digit growth expected within two years of the start of a rate-cutting cycle, according to the Australian Financial Review. - read more

Mon, 18 Aug: The Insurance Council of Australia (ICA) has expressed strong support for a Victorian initiative proposing a resilient homes scheme, akin to those currently operating in New South Wales and Queensland. This recommendation emerged from a comprehensive inquiry into climate resilience conducted by Victoria's Legislative Council Environment and Planning Committee, which presented 93 findings alongside 82 recommendations this week. - read more

Fri, 15 Aug: In a significant development for the Australian financial advice industry, the median advice fees have surged by 18% to reach $4,668, as detailed in the latest Adviser Ratings report. This escalation represents a 67% leap over the past five years, starkly outpacing the nation's inflation rate of 20.5% during the same duration. - read more

Fri, 15 Aug: AMP has unveiled a new rewards initiative aimed at enhancing superannuation savings for its members. By partnering with Citro, a content and rewards fintech platform, AMP allows super members to earn cashback from a wide range of retail purchases. Members can choose to directly deposit these earnings into their super accounts, creating an opportunity to increase their retirement funds. - read more

Fri, 15 Aug: In a recent financial disclosure, Bell Financial Group (BFG) announced a notable 44% drop in half-year net profit after tax as it navigates challenging market conditions. While the company's overall revenue declined by 12.5% to $121.5 million, its Technology & Platforms and Products & Services units showed resilience with a combined revenue increase of 12% to $46.3 million. This contrasts sharply with the 23.5% revenue dip in its broking division, which totalled $69.4 million. - read more

Fri, 15 Aug: A recent ruling mandates an insurance broker to pay nearly $300,000 in compensation to a client after an insurer, QBE, declined a fire claim and cancelled the policy due to nondisclosures. The fire, which occurred in October 2022, severely damaged the commercial premises. QBE asserted that they would have denied coverage had they known about asbestos on the property, among other unreported issues. - read more

Thu, 14 Aug: The evolving landscape of private credit funds in Australia necessitates greater responsibility from self-directed investors, according to Darren Connolly, the Chief Executive of Investment Markets. As the landscape of fixed income investments becomes increasingly complex, investors are being urged to take ownership of their decision-making processes. - read more

Thu, 14 Aug: In a significant move to enhance Australia's retirement phase of superannuation, the federal government has introduced two new consultation papers. These documents focus on establishing best practice principles for superannuation retirement income solutions and implementing a robust retirement reporting framework. - read more

Thu, 14 Aug: The Reserve Bank of Australia (RBA) recently made a pivotal decision to cut the official cash rate (OCR) by 0.25%, bringing it down to 3.60%. This move marks a total reduction of 0.75% from its peak of 4.35%. Economists and financial markets anticipate further cuts, potentially two more by mid-2026, reflecting a cautious easing policy by the RBA. - read more

Thu, 14 Aug: An insurance dispute arose when a driver was refused coverage for car damage after evidence showed involvement in multiple collisions, contrary to her claim. Initially, the woman filed a claim with Hollard Insurance, stating her car had collided once with another vehicle. However, the situation took a turn when forensic data from in-car technology revealed two separate impacts occurring 11 minutes apart. - read more

Wed, 13 Aug: As financial planners await forthcoming updates to the Delivering Better Financial Outcomes (DBFO) legislation, many are grappling with significant challenges arising from the first tranche, specifically concerning fee consent requirements. These issues, unfortunately, seem to require legislative amendments as they fall outside the scope of regulatory fixes, amplifying the compliance burden on financial advisers, especially regarding breach reporting. - read more

Wed, 13 Aug: The Association of Super Funds of Australia (ASFA) has unveiled a report highlighting the significant contributions of Australia's superannuation system to national economic productivity. Their research precedes the upcoming Economic Reform Roundtable, emphasizing the system's pivotal role in boosting GDP and productivity levels. - read more

Wed, 13 Aug: The Reserve Bank of Australia (RBA) has recently initiated a 0.25% cut to the official cash rate, stirring dialogue among industry leaders about the timing and necessity of potential future cuts. Despite the reduction aligning with broad expectations, there are diverging opinions about further reductions this year. - read more

Wed, 13 Aug: HESTA, a major Australian superannuation fund, has successfully renegotiated its partnership with AIA Australia, resulting in reduced insurance fees for its members. Since first collaborating in 2018, HESTA continues to strengthen its alliance with AIA, with the latest renewal taking effect from 2023. This strategic move aligns with HESTA's commitment to providing cost-effective insurance solutions for its members. - read more

Tue, 12 Aug: Charlie Viola, executive chairman of Viola Private Wealth, recently highlighted a promising opportunity for financial institutions to better serve the mass affluent market. Despite the recent trends stemming from the royal commission that have seen personnel changes across the financial advisory sector, Viola asserts that there remains a strong clientele base. The financial advisory business, he notes, benefits from a steady stream of increasingly wealthy individuals, but the challenge lies in effectively serving those with moderate wealth. - read more

Tue, 12 Aug: The Australian Prudential Regulation Authority (APRA) has issued a call to the superannuation sector to enhance its ability to mount a unified industry response to cyber incidents that impact multiple stakeholders. This directive follows a significant roundtable discussion in July, featuring major superannuation organizations, the APRA, and the National Office of Cyber Security. - read more

Tue, 12 Aug: Melbourne's property landscape offers a distinctive picture compared to Australia's major cities, with a notably stable market over recent years. PropTrack data shows the city's median dwelling values increased only 19.2% over the past five years, trailing significantly behind the combined capital cities' average rise of 45.5%. - read more

Tue, 12 Aug: The Australian Securities and Investments Commission (ASIC) has voiced apprehension about the transparency of professional indemnity (PI) insurance amongst holders of the Australian Financial Services Licence (AFSLs). This concern arises from a recent market overview conducted to analyze PI insurance for AFSLs offering personal advice to retail clients. - read more

Mon, 11 Aug: Betashares has unveiled a new division, Betashares Private Capital, enhancing its diversified financial services portfolio with a focus on private market investments. This launch aims to satisfy the growing appetite among Australian investors and financial advisers for robust private asset opportunities, facilitated through partnerships with eminent global private asset managers. - read more

Mon, 11 Aug: The Financial Advice Association of Australia (FAAA) is expanding its approved specialisations program, which currently includes areas such as aged care, life risk, and the Fellow Chartered Financial Practitioner (FChFP). The organisation is now seeking applications from education and designation providers to broaden the program's scope. New areas of interest include estate planning, retirement, money therapy, self-managed superannuation funds (SMSF), and responsible investing, though additional relevant specialisations are also welcome. - read more

Mon, 11 Aug: The Australian Treasury has released a consultation paper that highlights the role of superannuation fund trustees in enhancing retirement income solutions for individuals in advised financial relationships. This document suggests trustees engage with members who seek financial advice, empowering them to hold more informed conversations with their advisers. - read more

Mon, 11 Aug: The Australian dollar is navigating turbulent times, influenced by global currency markets and ongoing inflationary pressures. With market sentiment swaying, the Aussie dollar finds itself in a precarious position, significantly impacted by anticipated tariffs and inflation reports. This period of uncertainty emerges as the US Dollar Index (DXY) shows indecision, metals markets react to geopolitical developments, and overall market volatility remains high. - read more

Mon, 11 Aug: A savvy traveller has successfully challenged an insurance decision after having to make an impromptu stay in London due to a medical emergency. This came after the man needed urgent medical attention following a cat bite he sustained in Albania, which sent him to the UK capital for essential treatment. - read more

Mon, 11 Aug: In the age of instant digital services, where everything from basic necessities to luxury items can be delivered in a blink, the life insurance sector in Australia is poised for a transformative change. Historically plagued by lengthy processing times, the sector faces a persistent underinsurance gap, with over a million Australians lacking adequate life protection. The introduction of a digital Personal Medical Attendant Report (PMAR) by Acenda, formerly MLC Life, marks a significant stride towards addressing this challenge. - read more

Fri, 08 Aug: The recently published 2025 UBS Global Wealth Report reveals that Australians maintain a high standing on the global wealth scale. According to the report, Australia ranks second worldwide when it comes to median wealth, boasting a typical median net worth of US$268,424. This indicates a relative affluence among Australians compared to other countries. - read more

Fri, 08 Aug: The Australian financial sector is poised to be a critical driver of national productivity, according to the new Assistant Treasurer and Minister for Financial Services, Daniel Mulino. With inflation beginning to ease and wages on the rise, Mulino highlights the significance of maintaining focus on not just inflation, but also on bolstering productivity to enhance long-term living standards. - read more

Fri, 08 Aug: Australia's housing market is grappling with stark increases in land costs, which are driving home prices to unprecedented heights. Recent data from the Australian Bureau of Statistics indicates that residential land values surged by 8.8% between 2023 and 2024, reaching a staggering $7.7 trillion. Over the past 35 years, these values have ballooned from 1.1 to 2.9 times the nation's GDP. - read more

Fri, 08 Aug: A Victorian court has ratified a $34 million settlement in a class action involving add-on insurance products sold by Suncorp. This settlement culminates the legal proceedings surrounding alleged unlawful sales practices. - read more

Thu, 07 Aug: Australian financial technology leader Iress has launched a pioneering market intelligence platform named FundsFlow. This innovative tool provides an unprecedented, comprehensive view of investment flows and trends across the retail investment management landscape. The platform is designed to fill a critical gap with its ability to deliver detailed insights into investment product trajectories, fund competitiveness, and evolving investor behaviour. - read more

Thu, 07 Aug: A notable shift in Australia’s superannuation compliance environment is on the horizon with the federal government’s proposed Division 296 reforms. This new regulation will primarily impact superannuation funds exceeding $3 million in earnings, demanding increased transparency and evidence-based reporting. Even though the legislation is not yet enacted, there is a pressing need for Self-Managed Superannuation Funds (SMSFs) to prepare for stricter compliance mandates. - read more

Thu, 07 Aug: In a significant development for Australia's superannuation landscape, MySuper default-type funds have reported their highest annual return since the 2020/21 period. According to a recent analysis by Rainmaker, the MySuper index delivered a remarkable 10.6% return for the financial year 2024/25. This notable performance marks the third consecutive year of positive returns despite ongoing geopolitical uncertainties and market fluctuations. - read more

Thu, 07 Aug: The Australian Prudential Regulation Authority (APRA) has recently increased its oversight of KeyInvest, a financial services firm renowned for its funeral bond product, by imposing additional licence conditions and raising the capital requirement. This decision follows an APRA review identifying deficiencies in KeyInvest’s risk management framework and questioning the board's effectiveness in maintaining strategic oversight. - read more

Thu, 07 Aug: Recent research from Victoria University has provided new insights supporting the proposal to abolish insurance taxes in Australia. The study, conducted by Jason Nassios and James Giesecke, examined the effects of varying rates on four primary taxes: personal income tax, goods and services tax (GST), stamp duties, and insurance duties. Unlike previous studies, this research assessed the economic impacts of these taxes as their rates fluctuated, rather than analyzing them at static levels. - read more

Wed, 06 Aug: The Financial Services Council (FSC) has strategically expanded its influence in the Australian superannuation landscape by recruiting three former high-level employees from the Association of Superannuation Funds of Australia (ASFA). The move comes as both organisations contend to become the leading representative in Canberra for the burgeoning $4 trillion super industry. To facilitate this, FSC has inaugurated a Superannuation Practitioners Group, intending to provide comprehensive regulatory guidance to superannuation entities. - read more

Wed, 06 Aug: As property prices continue to soar across Australia, first-time homebuyers are facing an increasingly challenging market. High-end properties exhibit greater volatility, responding sharply to interest rate changes, as illustrated by CBA data comparing the price fluctuations of the most costly and least expensive homes. Recent interest rate cuts by the Reserve Bank of Australia (RBA) have fueled a rise in property prices, yet costlier homes have not seen as much growth as more affordable ones. - read more

Wed, 06 Aug: A recent decision in an Australian Financial Complaints Authority (AFCA) case has ruled in favour of a business seeking coverage for damage to machinery, despite the hiring company not adhering to all prescribed safety guidelines. The matter involved a Winlet 575 Glass Robot that sustained damage when its stabiliser failed during operation. - read more

Tue, 05 Aug: As the cost of living continues to rise in Australia, young people find it increasingly difficult to save money. A recent survey by Finder reveals half of all Australians live paycheck to paycheck. Particularly hard hit are young Australians, with 43% of respondents having less than $1,000 in savings, highlighting the challenging financial landscape. For many young individuals, such as a Sydney bar worker, exorbitant living expenses have made saving nearly impossible. - read more

Tue, 05 Aug: TelstraSuper's announcement of potential merger talks with Aware Super has raised eyebrows among members, given the recent abrupt breakdown of a similar merger with Equip Super. This new collaboration is being highly scrutinised by both parties, as Aware seeks to bolster its position in the competitive superannuation landscape. - read more

Tue, 05 Aug: Global financial markets displayed varied performances overnight, with Wall Street experiencing a minor rebound that failed to recover from Friday night's losses. The US dollar remained under pressure, gaining some ground only against the Swiss Franc, as the Federal Reserve's potential early rate cut looms larger. Concurrently, US Treasury yields continued their downward trajectory across all maturities, whereas the Australian dollar held steady just below 65 cents. - read more

Tue, 05 Aug: In a notable victory, Brisbane-based IVAA Claims emerged as the winner of the esteemed Beyond the Buzzwords pitch contest. The company, which specializes in jewellery validation assessments and settlement guidance for contents claims, impressed the judges with its innovative approach to tackling insurance fraud. - read more

Mon, 04 Aug: The Council of Australian Life Insurers (CALI) has highlighted a significant gap in access to affordable, professional life insurance advice among young Australians. A recent study conducted by CALI reveals that only 11% of 18-to-34-year-olds obtain formal financial guidance, with the majority relying instead on advice from informal and often inaccurate sources such as friends, family, social media, and online forums. - read more

Mon, 04 Aug: New modelling by superannuation fund HESTA has revealed that the rise in the superannuation guarantee to 12% is expected to significantly increase the retirement savings of future generations of Australian women. Specifically, women starting their careers today could see a retirement fund of approximately $712,000—an impressive $411,000 boost compared to women who began work in 1976. - read more

Mon, 04 Aug: Australia is gearing up for a shift in the real estate landscape, with industry insiders identifying an emerging seller's market. Sydney's real estate agent and auctioneer, Tom Panos, highlighted this trend after observing a string of exceptionally strong auction results. - read more

Mon, 04 Aug: The process of obtaining Personal Medical Attendant Reports (PMARs) has been a significant administrative issue for Australian life insurers. General Practitioners (GPs) often face an overwhelming amount of paperwork, dedicating nearly a full workday each week to administrative tasks. PMARs, essential for assessing applicants’ health for life insurance, have traditionally been cumbersome and time-consuming, with many GPs delaying their completion. However, the development of digital solutions is set to transform this process and improve efficiency drastically. - read more

Fri, 01 Aug: As the financial sector moved into 2025, there was cautious optimism that the number of financial advisers in Australia might exceed 15,500. However, recent analysis of the Financial Adviser Register (FAR) paints a different picture, indicating that these hopes may have been misplaced. - read more

Fri, 01 Aug: Wilson Asset Management (WAM) has put forward a new proposal, the Progressive Super Surcharge and Tax Offset, in response to ongoing critiques of Labor's current superannuation tax changes encapsulated in Division 296. This move comes amid concerns about the implications of taxing unrealised gains, prompting WAM to suggest an alternative that applies to realised gains for super balances exceeding $3 million, intending to generate $2.433 billion in revenue. - read more

Fri, 01 Aug: Many older Australians are increasingly struggling to understand the reverse mortgage market, according to recent research and inquiry records from the national brokerage, Seniors First. This complexity is evidenced by a threefold rise in inquiries from Australians over 60 during the past two years, largely driven by concerns over living costs, misconceptions about the products, and inadequate access to information. - read more

Fri, 01 Aug: Starting on October 1, a comprehensive review of the voluntary Life Insurance Code of Practice will commence, with a focus on assessing the effectiveness of revisions made to its regulations and standards in 2023. The Council of Australian Life Insurers (CALI) has appointed Peter Kell to lead this independent review and deliver the final report by June 30 next year. - read more