Controversy surrounds the valuation of unlisted investments,such as airports and ports,held by superannuation funds,and whether the valuations can be trusted.
The superannuation industry is under continuing pressure to merge small funds into large ones. But the government,and small funds,argue there is a case to be small.
There are calls for more regulation to stamp out land banking that drives up prices for aspiring homeowners,but the property developer advocacy group says it doesn’t happen.
The country’s top banking regulator has been at APRA since it started in 1998 and has spent eight years in the top job,leading it during a tumultuous period.
CGT is payable by an estate,which can be a problem if some shares are passing on to local family,and thus untaxed until sold,as they will be paying the tax for their Kiwi brethren.
Superannuation fund balances have declined an average 4.4 per cent in the past 12 months due to a slump in global markets.
The end of Volt is also a bit of a bloody nose for the regulator and its chair,who issued these three fintech lab rats with banking licences.
The banking regulator says rising inflation and interest rates would have a “significant impact” on borrowers.
After the 2019 federal election,house prices lifted. This time,a downturn is far more likely,with interest rate rises predicted to hit mortgage holders.
APRA chairman Wayne Byres says the regulator wants safety,but that doesn’t mean protecting incumbent banks from new business models.
Lending to highly-indebted home buyers and those with skinny deposits rose in the December quarter.