Australia
Work expense claim errors blamed for A$8.7bn blackhole
Incorrectly claimed work expenses have been blamed for a multi-billion dollar black hole at the Australian Tax Office.
Antiquated Australian tax residency rules face overhaul
Australia’s individual tax residency rules have not changed in 90 years and desperately need modernisation and simplification, the country’s Board of Taxation has found.
Australia faces IFA exodus if industry forced to upskill
Potentially hundreds of senior Australian financial advisers could leave the industry if they are forced by the government to upskill, according to the country’s Stockbrokers and Financial Advisers Association (Safaa).
Australia’s AMP faces court date over ‘rewriting’ policies
AMP Financial Planning is the second major Australian financial institution facing federal court proceedings after the regulator said it failed to protect clients from advisers improperly rewriting client policies.
Should Australia introduce a UK-style restricted advice model?
With the vertically-integrated advice model under fire and the cost of financial advice being more than the average Australian is prepared to pay, could a UK-style tied model be the solution?