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Regulation

Open banking an opportunity to review lending laws: Sam White

Sam White, the executive chairman of LMG, has suggested that responsible lending laws should be streamlined as open banking rolls through the mortgages space.

Macquarie to pay $10m penalty for ineffective controls

The bank will have to pay a $10 million penalty for failing to have effective controls to prevent and detect unauthorised fee transactions conducted by third parties.

Miles government passes new housing legislation

The Queensland government has passed new legislation through the Parliament to fast-track affordable housing development.

ATO issues warning about illegal early access to super

The ATO is urging super professionals to watch for potential illegal access to super schemes.

ASIC CEO to depart

The regulator’s chief executive is due to step down from his role as ASIC enters the “next phase of its transformation”.

NSW may increase foreign investor taxes

The NSW government has said it may look to increase taxes on foreign investors in the same week it confirmed that property owners would be tapped to pay for the state’s emergency services

Loan Market payroll tax ruling handed down

The Supreme Court of NSW has ruled on the application of payroll tax to certain brokers, setting a precedent that could reverberate throughout the industry.

ACCC welcomes merger rule changes

Mergers will be approved within 30 working days and follow a single decision-making process as part of new merger reforms, which the ACCC has welcomed.

Government warns market about tax scams

Tax refund scams have ballooned, according to the Albanese government, with a warning issued for consumers to be vigilant.

Government passes foreign investor fee legislation

The Property Council of Australia (PCA) has warned that the fee increase could put the government’s housing targets “at risk”.

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