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Australia unveils standards bill on degree-qualified advisers

International Advisor

International Adviser

Australia unveils standards bill on degree-qualified advisers

Australia unveils standards bill on degree-qualified advisers   Australia has introduced a new professional standards legislation that will require financial advisers to be degree-qualified. In a statement on Wednesday, financial services minister Kelly O’Dwyer, confirmed that the Corporations Amendment (Professional Standards of Financial Advisers) Bill 2016 has been introduced into parliament. Under the new system, …

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International Adviser

Australian expats in the US could face taxes on super accounts

Australian expats could face US tax on Australian superannuation   25/10/2016 – Australian expats living in the United States could face US tax on Australian superannuation, following changes to the Internal Revenue Service’s (IRS) reporting requirements for such schemes. In June last year, the US tax authorities released a redacted letter classifying superannuation, Australia’s state-backed pension savings arrangement, as …

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International Adviser

Australia scraps A$500k lifetime superannuation cap

Australia scraps A$500k lifetime superannuation cap   Australia scraps A$500k lifetime superannuation cap – The Australian government has scrapped plans to introduce a controversial A$500,000 (£286,598, $383,675, €341,174) lifetime superannuation cap curbing the amount people can save into their pensions. Treasurer Scott Morrison confirmed the U-turn on the proposed limit, which would have applied to after tax …

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International Adviser

Disruptive technologies make the expat world a smaller place

Disruptive technologies make the expat world a smaller place   Atlas Wealth Management has made innovative use of disruptive technologies such as social media to ‘make the world a smaller place’ for an expat client base that spans more than 18 countries. “Our business could not have existed five and certainly not 10 years ago,” …

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International Adviser

Australia pushes ahead with plans for degree qualified advisers

Australia pushes ahead with plans for degree qualified advisers   Australia proceeds with plans for degree qualified advisers with the Australian government reaffirming plans to set up an industry body aimed at lifting the professional standards of financial advisers, confirming that all new advisers must have a university degree. Speaking in her new role as …

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