FPA

The ATO is planning a midyear release of updated guidance on the tax deductibility of financial advice, according to panellists at a recent industry event, with indications that a new interpretation could see upfront advice fees deemed deductible.

Michelle Levy said she was ‘puzzled’ by the government’s decision to conduct a consultation on the proposals handed down in the advice review, while industry leaders urged for the adoption of her reform suite.

The ATO recently announced a rule review that could see the cost of advice fees become tax deductible, a change many in the industry say would expand access to quality financial advice by making it more affordable.

Australian Super has appointed former Coles executive Sarah Adams as group executive, strategy, brand and reputation. She joins from Bushfire Recovery Victoria where she was executive director of communications and stakeholder relations. Prior to that, she was general manager of corporate affairs at Coles and held senior leadership positions within the Federal Government. First Sentier…

Strongly divided views about the wisdom of using the early release from superannuation have prompted large numbers of fund members to seek the advice of financial planners. Losing insurance cover, reducing retirement benefits and crystallising losses are the main issues commentators have highlighted. According to AMP’s technical adviser support team, early release of super was…