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ANNOUNCEMENTS
Hall & Wilcox is delighted to announce the appointment of John Sudano as Senior Associate, effective 1 July 2006. |
| With over four years experience in taxation and superannuation, John has particular strength in the area of self-managed super fund work. He also makes a significant contribution to the firm's Financial Services practice in relation to the preparation of disclosure documents for superannuation funds.
John is a Fellow of the Taxation Institute of Australia and a member of the ASFA Small Funds Discussion Group, which addresses emerging issues affecting small superannuation funds. He is a seasoned presenter on superannuation and tax-related legal issues and is a regular contributor to relevant industry journals.
Congratulations to John. |
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| Click here to read more about Hall & Wilcox Financial Services Practice Group. |
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A SUPER BUDGET – WHAT YOU NEED TO KNOW FOLLOWING THE BUDGET |
Superannuation taxation rules are currently complex and make retirement planning an anxious time for self-funded retirees.
Currently pensioners take their benefits as a lump sum or by way of one or more pensions, or a mix of these options. There are five different types of pensions to choose from. Each mix of benefits has different estate planning and taxation consequences. Read
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ENHANCED FEE DISCLOSURE IN PDSs - ASIC GUIDE |
| ASIC has recently released a guide “Enhanced fee disclosure regulations: Questions and answers” (the Guide) to provide direction on the application of Corporations Regulations on enhanced fee disclosure (Regulations) in product disclosure statements and periodic statements. Generally, the Regulations applied to superannuation products from 1 July 2005 and managed investment products from 1 July 2006. This update focuses on PDS disclosure. Read
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| FURTHER FSR REFINEMENTS |
On 7 April 2006, the Government released a Consultation Paper (Paper) seeking comment on further possible refinements to certain areas of corporate and financial services regulation. The Paper highlights a number of specific issues and proposals, with the objective of reducing the complexity of regulation in the corporate and financial services arena. If implemented, it should provide important benefits to industry participants and consumers. Read
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RESTRAINT CLAUSES IN FINANCIAL PLANNING EMPLOYMENT CONTRACTS |
The Federal Court decision earlier this year of AMP Services Limited v Manning [2006] FCA, 24 March 2006 raises the perennial issue of restraint clauses in the context of the financial planning industry and the role of fiduciary duties in situations where an employee wishes to leave their employment to work for a competitor. Read
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