Australians with multimillion-dollar super balances will face higher taxes under the federal government's revised super tax proposal, while low-income earners will also receive a boost to their retirement savings.
ASIC issued two infringement notices to the industry fund for misleading statements it made after charging more than 2000 members for insurance cover they were not supposed to have.
Macquarie is heading to court with ASIC over its role in the Shield Master Fund collapse, but has committed to reimbursing investors' retirement savings by September 30.
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