Comments on: APRA levy cost to super up 147% in a decade

By: Epic fail

Epic fail — Tue, 06 May 2025 01:07:24 +0000

Internally APRA is something like one of those FBI movies, the cool guys all work in the Banking sector, the 4 geeks left growing mushrooms in the corner all get allocated to work in the Super Sector.

So APRA has taken one Super fund to Court in the last 50 years. When was the last time an Industry Super Fund such as Vision Super, Hesta Australian Super took less than 3 days to rollover super, as per the Super Stream Levy that all Australians pay for and is rarely policed or actioned and Super funds themselves collude & never ever report?

This statement above is why Super Funds and Treasury and ASIC want to rid Australia of Advisers. To cover up this little money pot.

By: Random

Random — Tue, 06 May 2025 00:17:52 +0000

In reply to Andrew.

yeah… nah… based on the logic you’ve just used, a 100% increase over 10 years would mean no change.

By: Alleycat

Alleycat — Tue, 06 May 2025 00:13:05 +0000

In reply to Canberra costs ever increasing.

It has nothing to do with increased costs or increased claims.
It was a flawed concept in many ways from the very beginning, with the original levy struck based upon the number of financial planners and AFSL’s in the profession.

Once the government of the day and vested interests started to impose draconian hurdles in front of the existing financial planning cohort, you can bet “London to a brick”, that they never envisaged the mass exodus of advisers leaving the profession (around 50.0%).

But here’s the thing, so long as the flawed concept is based upon adviser numbers, the increases will continue to increase, including the CSLR.
Good luck to the last man/woman still standing!

@ Andrew, none of this has anything to do with inflation!

By: Andrew

Andrew — Mon, 05 May 2025 23:04:54 +0000

So they’ve increased 3.9% per annum? Or a little over inflation?

By: Wayne Taylor

Wayne Taylor — Mon, 05 May 2025 21:13:55 +0000

No more fancy Christmas events, travelling or farewell functions.
Every expense should be disclosed, especially individual remuneration.

By: Canberra costs ever increasing

Canberra costs ever increasing — Mon, 05 May 2025 21:05:10 +0000

Add the massive increases of the ASIC Adviser levies up over 200% increase in 7 years.
The CSLR Adviser levies could well be up over 1000% increase in 3 years.
Canberra regulators bank rolled to whatever Levies they want is clearly way out of control.