A parliamentary inquiry will examine insurance affordability as a new report shows more people are being priced out of protecting their homes and assets.
Assistant Treasurer Stephen Jones is worried the increase in premiums,combined with a rise in complaints,will result in people opting out of insurance.
The proposed update to laws that allow businesses to pay super quarterly will also make it tougher for employers not to pay the super guarantee at all.
The opposition leader has denounced Jim Chalmers’ proposed changes and defended the Coalition policy of allowing withdrawals for illness or house deposits.
Laws introducing fines for dodgy finance executives have been shelved after several bank bosses expressed their surprise and disappointment.
As the number of Australian BNPL accounts has grown beyond 7 million,the government has unveiled three options for tighter regulation of the industry.
Assistant Treasurer Stephen Jones will announce changes to close a loophole.
Financial Services Minister Stephen Jones says without a clear and shared objective for super,proposals to access it early will keep coming back “like a Mariah Carey single at Christmas”.
Small businesses owed the tax office nearly $12 billion in unpaid tax - the majority of $33.4 billion owing.
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.