Business Services Industry
ASIC gets tick of approval.
Australasian Business Intelligence, April, 2006
Byline: Ian Davis
Apr 12, 2006 (Superfunds - ABIX via COMTEX) -- Superannuation funds must report super guarantee contributions to the Australian Taxation Office. The Government has opted to maintain the rule, which was introduced under the defunct super surcharge regime. The Australian Prudential Regulation Authority (APRA) is not accepting any more applications from super trustees for Registrable Superannuation Entity (RSE) licences. APRA is concerned that many super funds are neglecting to report their fees and charges to the Authority. The Australian Securities & Investments Commission has released a warning about the disclosure of fees and services in advertisements for super funds.
Publication Date: April 2006
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