Friendly Societies

On behalf of the friendly societies industry, the Friendly Societies of Australia (FSA) has lodged a submission to the Senate Economics Legislation Committee to be considered as part of its inquiry into the Treasury Laws Amendment (Personal Income Tax Plan) Bill 2018 [Provisions]. The submission specifically relates to the impact of the new low and…

Read more

The friendly societies industry has concerns about a measure in the 2018/19 Federal Budget which relates to the new low and middle-income tax offset.

While the industry welcomes tax cuts for low and middle-income earners, if legislation to give effect to the low and middle-income tax offset passes Parliament in its current form, this will discourage Australians from contributing their savings towards the cost of school education, tertiary education and vocational training (including apprenticeships) through scholarship funds.

Read more FEDERAL BUDGET MEASURE RESTRICTS EDUCATION FUNDING

The appointment of Hon Helen Coonan as the inaugural Chair of the Australian Financial Complaints Authority (AFCA) has been welcomed by the Friendly Societies of Australia (FSA).

Ms Coonan has extensive experience in public policy, notably through her time as a Cabinet Minister during the Howard Government. Her ministerial roles included stints as Minister for Revenue and Assistant Treasurer.

Read more FSA WELCOMES AFCA APPOINTMENT

Back to top