News

18-381MR Lenders commit to improve credit card practices following ASIC review

Today ASIC has released Report 604  Credit card lending in Australia – An update (REP 604), which sets out the changes being made by lenders to help consumers with credit card debt.In July 2018, ASIC released Report 580 Credit card lending in Australia(REP 580), which found more than one in six consumers is struggling with…

18-380MR Beware banking scam impersonating ASIC

ASIC is warning the public to be wary of scammers claiming to be from ASIC in connection with Luxembourg Offshore Banking, also known as LUXOSB Limited.The activities of Luxembourg Offshore Banking and LUXOSB Limited are scams. They are not regulated by ASIC nor licensed or authorised in Australia to provide…

Investment tax issues you need to be aware of

Investors must consider a range of tax laws dealing with income, assets and deductions. Even that term ”income”, the meaning of which most of us would assume, can take on nuanced shades of meaning when considered in regard to investment. For example, investment income earnings such as dividends and interest…

Alerts, not alarms

Every now and then you might read or hear about a “taxpayer alert” being issued by the ATO. Taxpayer alerts are the ATO's “early warning” signals to the public about a certain area of concern – it could be about fraudulent schemes, or dodgy investments, or perhaps about a tax…