Financial Professional Posts

This year’s highly anticipated Budget sets in motion key aspects of the economic recovery plan through a mixture of tax cuts, business concessions and bold measures to stimulate spending and investment.

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The Government has announced that it will legislate to compel trustees of APRA-regulated superannuation funds to act in the best “financial” interests of their members.

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Ahead of the Federal Budget on 6 October 2020, Deloitte Access Economics has forecast an underlying cash deficit at $198.5bn for 2020-21, “just” $14bn worse than the $184.5bn Treasury forecast in the July Fiscal Update.

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Until this year Bernard Salt predicted the top three calamities likely to befall humanity would be climate, nuclear and military devastation. But not a global pandemic. “I never saw it coming,” confesses Australia’s leading demographer.

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The ATO has advised that it will not undertake compliance action to consider the validity of a beneficiary’s entitlement, or the application of s 100A of the ITAA 1936, where a trustee is affected by liquidity issues due to COVID-19 and unable to satisfy a beneficiary’s entitlement.

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