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OVER 28,000 TO BE AFFECTED BY LABOR POLICY

“The Labor Party is planning to rip money from the pockets of 28,091 pensioners, retirees and low-income earners from the Northern Beaches to pay for its budget black hole,” the Member for Mackellar Jason Falinski said today.

 

Labor have announced they will abolish tax refunds for share dividends if elected. This means that if you receive the pension, are on a low-income or have a small self-managed superannuation account, you will no longer get a refund from the Tax Office for tax already paid on your shares.

 

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New Educational Standards for Financial Advisers Released for Comment

The Turnbull Government established the Financial Adviser Standards and Ethics Authority (FASEA) – a body comprising industry, consumer ethics and education experts – to raise the education, training and ethical standards of financial advisers.

The Financial Adviser Standards and Ethics Authority has today released its much anticipated draft guidance on education pathways for existing financial advisers.

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Investing in Australian communities

The Turnbull Government is funding innovative community projects that target disadvantage and encourage a sense of community.

The Strong and Resilient Communities grants program will support 83 organisations with a total of $36.6 million in Government funding.

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1st Collaroy Scout Group

 

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Further Humanitarian Assistance to Paupa New Guinea

The Australian Government is increasing its humanitarian support to Papua New Guinea to assist those affected by the devastating 7.5 magnitude earthquake on 26 February.

Around 140,000 people live in the remote areas of the Highlands region that were most impacted by the earthquake. Continuing aftershocks have caused further damage in these areas, including a 5.8 magnitude earthquake on 5 March and a 6.7 magnitude earthquake this morning.

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Addressing Hybrid Loopholes

The Turnbull Government is continuing to ensure multinationals pay their fair share of tax – today releasing revised exposure draft legislation to address hybrid mismatch arrangements.

Hybrid mismatches exploit the differences in tax jurisdictions.

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A Record Year for Small-Scale Solar

Australia has cemented itself as a world leader in the use of rooftop solar with yet another record for installed capacity.

Figures released today by the Clean Energy Regulator show that there was more than 1057 megawatts of capacity installed last year, beating the previous record of 1035 megawatts set in 2012.

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4.7 million Australians to Benefit from Indexation

Around 4.7 million pension and allowance recipients will receive an increase to their welfare payments from 20 March.

The increases will help pensioners and allowance recipients to keep up with increases in living costs.

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Turnbull Government reaches historic deal on Snowy Hydro

The Turnbull Government has reached an agreement with the New South Wales and Victorian Governments to take full ownership of Snowy Hydro Limited in a deal that will deliver more than $6 billion in Commonwealth funds for investments in infrastructure across both states.

The historic agreement will generate more reliable energy, cheaper electricity, better infrastructure and more jobs for NSW and Victoria.

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Review of the Food and Grocery Code of Conduct

The Turnbull Government has today released terms of reference for a review of the Food and Grocery Code of Conduct, and has announced that Professor Graeme Samuel AC will lead the review.

The review is intended to ensure that the Food and Grocery Code is working effectively as the first prescribed voluntary code under the Competition and Consumer Act 2010. The Code regulates the conduct of those supermarket retailers and wholesalers who have agreed to be bound by the Code in their dealings with suppliers. Under legislation, the review is required to start three years after the commencement of the Code.

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