Payroll Webinar: The Essentials for Third Party Sick Pay in 2020Ascentis
This webinar discusses the proper taxation and reporting of the fringe benefit known as third party sick pay. It discusses what is and is not third party sick pay, how the taxation is affected by the status of the provider (is or is not the employer’s agent), when this type of payment is taxable and/or reportable and who is responsible for this taxation and reporting.
On Friday the Chancellor added to an already unprecedented package of financial support for businesses, to assist with the impact of the Coronavirus pandemic. We have produced this short guide to set out our current understanding of the measures announced and to highlight the steps you should now consider taking.
Payroll Webinar: The A to Z of Payroll Garnishments Part 2Ascentis
Tax levies and creditor garnishments can be some of the most complex tasks required of any payroll department. Payroll must understand all the laws that apply towards processing these types of garnishments backwards and forwards. It is sometimes even up to the payroll department to catch and correct any errors that have been made by anyone else along the way!
Precise and accurate compliance with garnishment regulation can help to reduce or eliminate the emotional and financial toll that can result from these unfortunate situations as well stave off any penalties that may result if processed incorrectly.
This webinar concentrates on processing garnishments, other than child support, in the payroll department. We’ll cover the federal rules for creditor garnishments, the IRS rules for federal tax levies, the various aspects of state tax levies, the key points for processing state creditor garnishments, how to handle voluntary wage assignments like payday loans and student loans. And that’s not all – we’ll also review the IRS Form 668-W.
CBIZ Manufacturing & Distribution Quarterly Newsletter - Feb 2020CBIZ, Inc.
Timely articles on topics of interest to manufacturers and distributors including - the expansive SECURE Act (retirement legislation), Benefits Renewal (six questions to ask), Risk (rethinking your profile for the new decade), the Hardening Insurance Market (what to expect, how to prepare) and the NAM Talks Trade - plus quick links to complimentary guides and webinars.
Payroll Webinar: The Essentials for Third Party Sick Pay in 2020Ascentis
This webinar discusses the proper taxation and reporting of the fringe benefit known as third party sick pay. It discusses what is and is not third party sick pay, how the taxation is affected by the status of the provider (is or is not the employer’s agent), when this type of payment is taxable and/or reportable and who is responsible for this taxation and reporting.
On Friday the Chancellor added to an already unprecedented package of financial support for businesses, to assist with the impact of the Coronavirus pandemic. We have produced this short guide to set out our current understanding of the measures announced and to highlight the steps you should now consider taking.
Payroll Webinar: The A to Z of Payroll Garnishments Part 2Ascentis
Tax levies and creditor garnishments can be some of the most complex tasks required of any payroll department. Payroll must understand all the laws that apply towards processing these types of garnishments backwards and forwards. It is sometimes even up to the payroll department to catch and correct any errors that have been made by anyone else along the way!
Precise and accurate compliance with garnishment regulation can help to reduce or eliminate the emotional and financial toll that can result from these unfortunate situations as well stave off any penalties that may result if processed incorrectly.
This webinar concentrates on processing garnishments, other than child support, in the payroll department. We’ll cover the federal rules for creditor garnishments, the IRS rules for federal tax levies, the various aspects of state tax levies, the key points for processing state creditor garnishments, how to handle voluntary wage assignments like payday loans and student loans. And that’s not all – we’ll also review the IRS Form 668-W.
CBIZ Manufacturing & Distribution Quarterly Newsletter - Feb 2020CBIZ, Inc.
Timely articles on topics of interest to manufacturers and distributors including - the expansive SECURE Act (retirement legislation), Benefits Renewal (six questions to ask), Risk (rethinking your profile for the new decade), the Hardening Insurance Market (what to expect, how to prepare) and the NAM Talks Trade - plus quick links to complimentary guides and webinars.
Payroll Webinar: Form W-2 for 2020: All You Need to KnowAscentis
The Form W-2 is one of the most important documents that payroll departments must process. This webinar covers the IRS Form W-2 for 2020. We examine the requirements for completing and filing the form including a box by box explanation. Best practices for completing and reconciling the form, handling duplicate requests from employees are also covered. When to use the correction Form W-2c is also discussed.
Join Jim Paille as he talks about payroll tax compliance going into the new year. In this session, you will understand the latest tax reform items that affect payroll. He will cover new IRS initiatives to be mindful of entering 2021. Then, Jim will discuss topics related to the 2020-2021 W-4’s impact at both the federal and state levels. Finally, he will cover some tips you can leverage to make your year-end processing more efficient and effective.
Payroll Webinar: The A to Z of Garnishments Part 2Ascentis
Tax levies and creditor garnishments can be some of the most complex tasks required of any payroll department. If garnishments are not handled correctly, you may find yourself facing situations that become extremely costly both financially and emotionally. Courts, federal and state regulations, bureaucracies, lawyers and a multitude of other factors can complicate even the most basic procedures. Add in the emotional turmoil that often accompanies garnishment orders and even small errors can become major disasters.
The reality is that all of the people and entities involved tax levies and other types of creditor garnishments expect action from the payroll department. Payroll must understand all the laws that apply towards processing these types of garnishments backwards and forwards. It is sometimes even up to the payroll department to catch and correct any errors that have been made by anyone else along the way! Precise and accurate compliance with garnishment regulation can help to reduce or eliminate the emotional and financial toll that can result from these unfortunate situations as well stave off any penalties that may result if processed incorrectly
C-Suite Snacks Webinar Series: The Talent Wars - Can Benefits Be Your Secret ...Citrin Cooperman
In today’s candidate-driven job market, offering a competitive benefits package can significantly improve your company’s success in both attracting and retaining talent. In this webinar session, Shaun Gagnon, president and managing partner of Cambridge Insurance Advisors, shares his insights on maximizing your employee benefits to attract employees and combat the talent shortage.
Topics included:
• Trends in open enrollment and wellness fairs
• Popular and practical benefits
• The war on talent
• Cost increases and how to deal with them
“Citrin Cooperman” is the brand under which Citrin Cooperman & Company, LLP, a licensed independent CPA firm, and Citrin Cooperman Advisors LLC serve clients’ business needs. The two firms operate as separate legal entities in an alternative practice structure. Citrin Cooperman is an independent member of Moore North America, which is itself a regional member of Moore Global Network Limited (MGNL).
The Evolving World of Workers' CompensationSkoda Minotti
Ken Haffey, Partner, Skoda Minotti and Mark Clendenin, BWC Northeast Region Business Development Manager discuss the evolution of the Ohio Bureau of Workers’ compensation.
You’ve Received COVID-19 Related Federal Assistance – Now What?Citrin Cooperman
In this webinar, we discussed the complex web of audit and reporting considerations that organizations who received COVID-19 related federal assistance must consider as they approach year-end planning and look forward to 2021.
Payroll Webinar: W-2’s vs. 1099’s: Understanding Who Should be an Independent...Ascentis
This webinar examines how the common law rule is used to determine worker status and which three requirements are used to correctly classify a worker as an independent contractor along with the requirements for when a worker must be classified as an employee. Misclassifying employees and independent contractors are getting more costly by the day. With federal and state agencies joining forces to combat misclassification, fines and penalties have skyrocketed. And every day the misclassification continues the penalties mount up and up until this ticking time bomb finally explodes! Find out how to defuse that ticking bomb by joining renowned payroll expert Vicki M. Lambert, CPP for this information packed webinar!
Payroll Webinar: Wage and Hour Compliance in 2020: It’s More Than Just Calcul...Ascentis
This webinar concentrates on federal and state wage and hour requirements that must be followed in the payroll department. Areas of discussion include calculating overtime, travel time, minimum wage, posting requirements, meal and rest periods, how often an employee must be paid and by what method and paying terminated employees.
Newsletter on daily professional updates- 25/06/2020CA PRADEEP GOYAL
“Knowledge is knowing that a tomato is a fruit.
Wisdom is not putting it in a fruit salad.”
Here is your Daily dose of professional updates 25th June 2020
Payroll Webinar: Form 941 for 2020: What you Need to KnowAscentis
This webinar covers the IRS Form 941 and its accompanying Form Schedule B for 2020. It discusses what is new for the form in 2020 and covers the requirements for completing each form line by line. It includes the filing requirements and tips on reconciling and balancing the two forms.
Form 941 is the link between your payroll records and the IRS tax records. Proper administration of this vital form is critical if you want to avoid IRS Notices and the penalties and interest that accompany them. The Schedule B is also a crucial form for many employers. The IRS demands that the Form 941 and the Schedule B match to the penny…every single time…without fail!
It has always been a requirement that the Forms 941 be reconciled with the Forms W-2 prior to submitting each form. If the employer fails in this reconciliation, the IRS and Social Security Administration can both assess penalties! This reconciliation has become even more critical these past few years.
Payroll Webinar: The A to Z of Payroll Garnishments Part 3Ascentis
In parts two and three of the A to Z of Payroll Garnishments we discussed the legal aspects of garnishments, now in our third and final chapter we will turn our attention to the best practices for processing the garnishments within the payroll department.
We will apply our learnings and review examples of calculating all types of garnishments, including how to prorate when an employee has two or more child support withholding orders and not enough disposable income to cover both, the calculations for a federal tax levy, what to do if the employee has a creditor garnishment and a child support withholding order and more!
Payroll Webinar: Tax Levies and Creditor Garnishments: What Payroll Must Know...Ascentis
This webinar concentrates on processing garnishments in the payroll department other than child support. It covers the federal rules for creditor garnishments, the IRS rules for federal tax levies, the various aspects of state tax levies, the key points for processing state creditor garnishments, how to handle voluntary wage assignments such as payday loans and student loans. It includes best practices for reconciling and processing the garnishments in the payroll department. Sample memos for communicating with the employee concerning garnishments are included. The IRS Form 668-W is reviewed.
Payroll Webinar: Forms W-2/941/940 for 2021: The Information You Need to Know!Ascentis
It is a New Year! Are you and your payroll department ready? Join “The Payroll Advisor” Vicki M. Lambert, CPP as she helps you to understand the proper procedures for completion of Form W-2, Form 941 and Form 940 for 2021.
Payroll Webinar: Form W-2 for 2020: All You Need to KnowAscentis
The Form W-2 is one of the most important documents that payroll departments must process. This webinar covers the IRS Form W-2 for 2020. We examine the requirements for completing and filing the form including a box by box explanation. Best practices for completing and reconciling the form, handling duplicate requests from employees are also covered. When to use the correction Form W-2c is also discussed.
Join Jim Paille as he talks about payroll tax compliance going into the new year. In this session, you will understand the latest tax reform items that affect payroll. He will cover new IRS initiatives to be mindful of entering 2021. Then, Jim will discuss topics related to the 2020-2021 W-4’s impact at both the federal and state levels. Finally, he will cover some tips you can leverage to make your year-end processing more efficient and effective.
Payroll Webinar: The A to Z of Garnishments Part 2Ascentis
Tax levies and creditor garnishments can be some of the most complex tasks required of any payroll department. If garnishments are not handled correctly, you may find yourself facing situations that become extremely costly both financially and emotionally. Courts, federal and state regulations, bureaucracies, lawyers and a multitude of other factors can complicate even the most basic procedures. Add in the emotional turmoil that often accompanies garnishment orders and even small errors can become major disasters.
The reality is that all of the people and entities involved tax levies and other types of creditor garnishments expect action from the payroll department. Payroll must understand all the laws that apply towards processing these types of garnishments backwards and forwards. It is sometimes even up to the payroll department to catch and correct any errors that have been made by anyone else along the way! Precise and accurate compliance with garnishment regulation can help to reduce or eliminate the emotional and financial toll that can result from these unfortunate situations as well stave off any penalties that may result if processed incorrectly
C-Suite Snacks Webinar Series: The Talent Wars - Can Benefits Be Your Secret ...Citrin Cooperman
In today’s candidate-driven job market, offering a competitive benefits package can significantly improve your company’s success in both attracting and retaining talent. In this webinar session, Shaun Gagnon, president and managing partner of Cambridge Insurance Advisors, shares his insights on maximizing your employee benefits to attract employees and combat the talent shortage.
Topics included:
• Trends in open enrollment and wellness fairs
• Popular and practical benefits
• The war on talent
• Cost increases and how to deal with them
“Citrin Cooperman” is the brand under which Citrin Cooperman & Company, LLP, a licensed independent CPA firm, and Citrin Cooperman Advisors LLC serve clients’ business needs. The two firms operate as separate legal entities in an alternative practice structure. Citrin Cooperman is an independent member of Moore North America, which is itself a regional member of Moore Global Network Limited (MGNL).
The Evolving World of Workers' CompensationSkoda Minotti
Ken Haffey, Partner, Skoda Minotti and Mark Clendenin, BWC Northeast Region Business Development Manager discuss the evolution of the Ohio Bureau of Workers’ compensation.
You’ve Received COVID-19 Related Federal Assistance – Now What?Citrin Cooperman
In this webinar, we discussed the complex web of audit and reporting considerations that organizations who received COVID-19 related federal assistance must consider as they approach year-end planning and look forward to 2021.
Payroll Webinar: W-2’s vs. 1099’s: Understanding Who Should be an Independent...Ascentis
This webinar examines how the common law rule is used to determine worker status and which three requirements are used to correctly classify a worker as an independent contractor along with the requirements for when a worker must be classified as an employee. Misclassifying employees and independent contractors are getting more costly by the day. With federal and state agencies joining forces to combat misclassification, fines and penalties have skyrocketed. And every day the misclassification continues the penalties mount up and up until this ticking time bomb finally explodes! Find out how to defuse that ticking bomb by joining renowned payroll expert Vicki M. Lambert, CPP for this information packed webinar!
Payroll Webinar: Wage and Hour Compliance in 2020: It’s More Than Just Calcul...Ascentis
This webinar concentrates on federal and state wage and hour requirements that must be followed in the payroll department. Areas of discussion include calculating overtime, travel time, minimum wage, posting requirements, meal and rest periods, how often an employee must be paid and by what method and paying terminated employees.
Newsletter on daily professional updates- 25/06/2020CA PRADEEP GOYAL
“Knowledge is knowing that a tomato is a fruit.
Wisdom is not putting it in a fruit salad.”
Here is your Daily dose of professional updates 25th June 2020
Payroll Webinar: Form 941 for 2020: What you Need to KnowAscentis
This webinar covers the IRS Form 941 and its accompanying Form Schedule B for 2020. It discusses what is new for the form in 2020 and covers the requirements for completing each form line by line. It includes the filing requirements and tips on reconciling and balancing the two forms.
Form 941 is the link between your payroll records and the IRS tax records. Proper administration of this vital form is critical if you want to avoid IRS Notices and the penalties and interest that accompany them. The Schedule B is also a crucial form for many employers. The IRS demands that the Form 941 and the Schedule B match to the penny…every single time…without fail!
It has always been a requirement that the Forms 941 be reconciled with the Forms W-2 prior to submitting each form. If the employer fails in this reconciliation, the IRS and Social Security Administration can both assess penalties! This reconciliation has become even more critical these past few years.
Payroll Webinar: The A to Z of Payroll Garnishments Part 3Ascentis
In parts two and three of the A to Z of Payroll Garnishments we discussed the legal aspects of garnishments, now in our third and final chapter we will turn our attention to the best practices for processing the garnishments within the payroll department.
We will apply our learnings and review examples of calculating all types of garnishments, including how to prorate when an employee has two or more child support withholding orders and not enough disposable income to cover both, the calculations for a federal tax levy, what to do if the employee has a creditor garnishment and a child support withholding order and more!
Payroll Webinar: Tax Levies and Creditor Garnishments: What Payroll Must Know...Ascentis
This webinar concentrates on processing garnishments in the payroll department other than child support. It covers the federal rules for creditor garnishments, the IRS rules for federal tax levies, the various aspects of state tax levies, the key points for processing state creditor garnishments, how to handle voluntary wage assignments such as payday loans and student loans. It includes best practices for reconciling and processing the garnishments in the payroll department. Sample memos for communicating with the employee concerning garnishments are included. The IRS Form 668-W is reviewed.
Payroll Webinar: Forms W-2/941/940 for 2021: The Information You Need to Know!Ascentis
It is a New Year! Are you and your payroll department ready? Join “The Payroll Advisor” Vicki M. Lambert, CPP as she helps you to understand the proper procedures for completion of Form W-2, Form 941 and Form 940 for 2021.
Yet another busy month with five major superannuation reforms introduced to Parliament. The Bills relate to promoting Member Outcomes, Housing Affordability, Independent Directors on Trustee Boards, Complaints or Dispute Resolution, and extending Choice of Fund.
this latest edition of out quarterly publication summarizes SEC developments in the last quarter. Highlights include SEC staff guidance on tax reform, remarks by SEC Chairman Jay Clayton and members of the SEC staff at the recent AICPA Conference on Current SEC and PCAOB Developments on the new accounting standards, critical audit matters and cybersecurity, and a discussion of Mr. Clayton’s concerns about initial coin offerings. We also discuss recent SEC rulemaking activities, SEC staff guidance updates and significant personnel changes.
Similar to QMV Pensions & Superannuation Regulatory Update - December 2018 (20)
It is paramount that retirement income systems and the advisers, trustees and other fiduciaries responsible for their management strike a fine balance between individual freedom and subtle nudges or paternalistic interventions.
Fifty-three per cent of Australian households are expected to have enough for a comfortable retirement from their combined superannuation savings, personal assets and the Age Pension, according to the latest CommBank Retire Ready Index
The responsibility of superannuation trustees is greater than that of typical businesses - holding an important economic and public policy role to Australian society to provide income in retirement. What duty or responsibility do superannuation trustees have towards environmental, risk, and governance factors?
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
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Latino Buying Power - May 2024 Presentation for Latino CaucusDanay Escanaverino
Unlock the potential of Latino Buying Power with this in-depth SlideShare presentation. Explore how the Latino consumer market is transforming the American economy, driven by their significant buying power, entrepreneurial contributions, and growing influence across various sectors.
**Key Sections Covered:**
1. **Economic Impact:** Understand the profound economic impact of Latino consumers on the U.S. economy. Discover how their increasing purchasing power is fueling growth in key industries and contributing to national economic prosperity.
2. **Buying Power:** Dive into detailed analyses of Latino buying power, including its growth trends, key drivers, and projections for the future. Learn how this influential group’s spending habits are shaping market dynamics and creating opportunities for businesses.
3. **Entrepreneurial Contributions:** Explore the entrepreneurial spirit within the Latino community. Examine how Latino-owned businesses are thriving and contributing to job creation, innovation, and economic diversification.
4. **Workforce Statistics:** Gain insights into the role of Latino workers in the American labor market. Review statistics on employment rates, occupational distribution, and the economic contributions of Latino professionals across various industries.
5. **Media Consumption:** Understand the media consumption habits of Latino audiences. Discover their preferences for digital platforms, television, radio, and social media. Learn how these consumption patterns are influencing advertising strategies and media content.
6. **Education:** Examine the educational achievements and challenges within the Latino community. Review statistics on enrollment, graduation rates, and fields of study. Understand the implications of education on economic mobility and workforce readiness.
7. **Home Ownership:** Explore trends in Latino home ownership. Understand the factors driving home buying decisions, the challenges faced by Latino homeowners, and the impact of home ownership on community stability and economic growth.
This SlideShare provides valuable insights for marketers, business owners, policymakers, and anyone interested in the economic influence of the Latino community. By understanding the various facets of Latino buying power, you can effectively engage with this dynamic and growing market segment.
Equip yourself with the knowledge to leverage Latino buying power, tap into their entrepreneurial spirit, and connect with their unique cultural and consumer preferences. Drive your business success by embracing the economic potential of Latino consumers.
**Keywords:** Latino buying power, economic impact, entrepreneurial contributions, workforce statistics, media consumption, education, home ownership, Latino market, Hispanic buying power, Latino purchasing power.
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
The European Unemployment Puzzle: implications from population aging
QMV Pensions & Superannuation Regulatory Update - December 2018
1. While all care has been taken in the preparation of this information, QMV Solutions takes no responsibility for any loss or damage
suffered from relying on this information. This information is not intended to be financial, tax or legal advice.
December 2018 |Pensions & Superannuation RegulatoryUpdate
QMVsupersmarts
advisory | delivery | resources
In Brief
Major Reform Updates
Member Outcomes &
Strategic Business Planning
12 December 2018
Standards & Guidance Issued
APRA has released a final package of new and enhanced prudential
requirements designed to strengthen the focus of RSE licensees on member
outcomes.
The package introduces an outcomes assessment, requiring RSE licensees
to annually benchmark and evaluate their performance in delivering sound,
value-for-money outcomes to all members, covering both MySuper and
choice products.
The package consists of new prudential standards and guidance:
▪ SPS 515 Strategic Planning and Member Outcomes
▪ SPG 515 Strategic and Business Planning
▪ SPG 516 Outcomes Assessment
The package also amends SPS 220 Risk Management to transfer the
location of the requirement to have a business plan.
The commencement date for the new measures has been set to 1 January
2020, where it was previously proposed for 1 January 2019.
QMV recommends that superannuation trustees commence a review to
position strategic business planning, monitoring and reporting
practices to align with the new requirements before the requirements
commence.
🔗Link to Details
All eyes were on the Protecting Your Super Bill, which didn’t have adequate support
from the Senate cross bench to warrant debate. It is now unlikely that the Bill will pass
before Parliament is prorogued due to the early budget date and sitting calendar.
The Consumer Data Right Bill also failed to be introduced to Parliament; however,
Treasury have released the draft Bill and Data 61 the technical standards. APRA moved
forward with its focus on member outcomes, releasing new prudential requirements
being released in addition to proposed legislation.
Consultation commented on Retirement Income Disclosure aspects of the Retirement.
Income Framework, which also includes the CIPR, Retirement Income Covenant, and
related changes.
There were also important developments related to financial advisor training and
qualifications, the extension of relief which was set to expire, and a Parliamentary report
on superannuation investment in agriculture.
2. December 2018 |Pension & Superannuation RegulatoryUpdate
advisory | delivery | professional resources
While all care has been taken in the preparation of this information, QMV Solutions takes no responsibility for any loss or damage
suffered from relying on this information. This information is not intended to be financial, tax or legal advice.
Retirement Income
Disclosure
10 December 2018
Consultation
Treasury has released a consultation paper proposing the introduction of a
retirement income fact sheet which presents the following simplified metrics
to simplify informed decision making:
▪ the amount of periodic income the product would provide;
▪ the likelihood that income may fall short in a given period;
▪ the degree of longevity risk protection the product provides; and
▪ the level of access to the underlying capital or for lump sum
withdrawals.
The consultation seeks views on:
▪ appropriateness of the proposed metrics in providing information for
consumers in selecting a retirement income product;
▪ the method used to calculate risk of retirement income; and
▪ the presentation of the metrics for the fact sheet.
Submissions for this consultation paper are due by 28 March 2019.
QMV recommends that superannuation trustees review the
consultation paper and provide relevant feedback to the Treasury
before the deadline. The proposed disclosure requirements should
also be considered as part of superannuation trustee retirement
income strategy and framework.
Financial Advice Training
Standards & CPD
21 December 2018
Legislative instrument determined
The Financial Adviser Standards and Ethics Authority (FASEA) has
registered determinations affecting AFS Licensees providing personal
advice. The following requirements will progressively replace Regulatory
Guide 146 Licensing: Training of financial product advisers, which will
continue to apply for general advice.
The Corporations (Relevant Providers Degrees, Qualifications and Courses
Standard) Determination 2018 requires financial advisors and planners to
complete a bachelor or higher or equivalent qualification, the determination
includes a list of current and historical degrees approved by FASEA.
The draft Corporations (Relevant Providers Exams Standard) Determination
2019 requires Relevant Providers to undertake a 3.5 hour (including reading
time) invigilated examination comprising at least 70 questions with a mix of
selected response and written response question types.
The Corporations (Relevant Providers Continuing Professional Development
Standard) Determination 2018 requires financial advisors and planners to
complete 40 hours of CPD each year of which 70% will need to be approved
by the licensee including the minimum hours for CPD categories:
▪ Technical – 5 hours
▪ Client Care and Practice – 5 hours
▪ Regulatory Compliance and Consumer Protection – 5 hours and
▪ Professionalism and Ethics – 9 hours
▪ The balance up to 40 hours will consist of qualifying CPD, technical
competence or industry specialisation
QMV recommends that superannuation trustees licensed to provide
financial advice assess the impact of the changes on existing financial
advisor qualification and continuing professional development policies
and procedures.
🔗Link to Details
🔗Link to Details
3. December 2018 |Pension & Superannuation RegulatoryUpdate
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While all care has been taken in the preparation of this information, QMV Solutions takes no responsibility for any loss or damage
suffered from relying on this information. This information is not intended to be financial, tax or legal advice.
Consumer Data Right
21 December 2018
Package released
Treasury has released a package of material related to the Consumer Data
Right, which is planned to commence with a limited form of Open Banking
from 1 July 2019. The package contains the following material:
▪ exposure draft of Treasury Laws Amendment (Consumer Data Right) Bill
2018 which was intended to be introduced to Parliament in the December,
but is likely to be introduced in February;
▪ draft Privacy Impact Statement and summary for consultation;
▪ the ACCC has released CDR Rules Outline providing guidance to data
holders and potential data recipients to guide development of new product
offerings ahead of the start of the CDR regime;
▪ Data61 has release Technical Standards, including API Standards,
Security Standards, and CX and UX Consent mechanism;
QMV recommends that superannuation trustees intending to register
as data recipients review the detailed material as part of the
implementation plans. All other superannuation trustees should stay
abreast of the regime, as it is likely that it will eventually be extended
to superannuation and pensions.
Single Touch Payroll
5 December 2018
Bill passed the Senate
The Treasury Laws Amendment (2018 Measures No 4) Bill 2018 was
passed by the Senate on 5 December 2018. The Bill contains various
measures, including broadening single touch payroll reporting to all
employers and require employers to include salary sacrificed amounts paid
to their employees’ nominated superannuation funds.
This will be effective 1 July 2019 (the current reporting framework
commencing 1 July 2018 only applies to employers with 20 or more
employees). The Bill will now move to the House of Representatives, having
been amended in the Senate.
QMV recommends that superannuation trustees note the change,
which is significant to employer sponsor relations and strategic
business planning.
Superannuation Guarantee
Compliance
5 December 2018
Passed Senate
Treasury Laws Amendment (2018 Measures No 4) Bill 2018 was passed by
the Senate on 5 December 2018, with several amendments. The Bill will
now move back to the House of Representatives.
The Bill includes measures which will target employer non-compliance with
Superannuation Guarantee obligations, based on recommendations from
the Superannuation Guarantee Cross-Agency Working Group, including:
▪ enabling the Commissioner to issue non-compliant employers with
directions to pay unpaid superannuation guarantee and to undertake
superannuation guarantee education courses; and
▪ allowing the Commissioner to disclose more information about
superannuation guarantee non-compliance to affected employees.
QMV recommends that superannuation trustees engage with
contributing employers and member service functions to ensure that
appropriate information is available to members on unpaid
superannuation contributions.
🔗Link to Details
🔗Link to Details
🔗Link to Details
4. December 2018 |Pension & Superannuation RegulatoryUpdate
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suffered from relying on this information. This information is not intended to be financial, tax or legal advice.
Technical Changes & Updates
Work Test Exemption for
Recent Retirees
10 December 2018
Regulations released
Treasury has issued regulations to provide a one-year exemption from the
work test for superannuation contributions to allow recent retirees to boost
their superannuation balances.
The Treasury Laws Amendment (Work Test Exemption) Regulations
2018 amends the Superannuation Industry (Supervision) Regulations 1994
and the Retirement Savings Accounts Regulations 1997, and it ensures that
individuals aged 65 to 74 years with total superannuation balances below
$300,000 can make voluntary contributions to their superannuation for 12
months from the end of the financial year in which they last met the work
test.
QMV recommends that superannuation trustees and advisers review
the new regulations and provide necessary information and advice to
members affected. Operational procedures related to acceptance of
such contributions may need to be reviewed internally of with service
providers.
Indirect Fee & Cost
Disclosure Deferral (RG97)
20 December 2018
Legislative Instrument issued
The Australian Securities and Investments Commission (ASIC) has issued
ASIC Class Order [CO 14/1252], extending the transition periods for certain
fees and costs disclosures for superannuation funds and managed
investment schemes beyond periods ending 30 June 2018.
The deferral of commencement is due to upcoming consultation on the
proposals arising out of recommendations made in the review of the fees
and costs disclosure regime in Report 581 Review of ASIC Regulatory
Guide 97: Disclosing fees and costs.
QMV recommends that superannuation trustees remain attentive the
developments during the consultation and plans to adequately monitor
indirect fees and costs in a way which enables disclosure consistent
with requirements.
29QC Deferral
17 December 2018
Amendments Introduced
ASIC has issued ASIC Superannuation (Amendment) Instrument
2018/1080, which extends for a period of 5 years the exemption for
superannuation trustees from the requirement in subsection 29QC(1) of the
Superannuation Industry (Supervision) (SIS) Act 1993 until 1 January 2024.
The obligation on superannuation trustees is to ensure that, where it is
required to give information to the Australian Regulation Prudential Authority
(APRA) under a reporting standard that requires the information to be
calculated in a particular way, and where the same or equivalent information
is given to other persons, the information given to the other person is
calculated in the same way as the information given to APRA.
The deferral is intended to allow for the requirements for the Choice product
dashboards and indirect fee and cost disclosure requirements to be settled
prior to commencement.
QMV recommends that superannuation trustees consider the impact
that the future commencement of the requirement may have on
disclosure and finance sector reporting obligations.
🔗Link to Details
🔗Link to Details
🔗Link to Details
5. December 2018 |Pension & Superannuation RegulatoryUpdate
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While all care has been taken in the preparation of this information, QMV Solutions takes no responsibility for any loss or damage
suffered from relying on this information. This information is not intended to be financial, tax or legal advice.
ATO Ruling on Total
Superannuation Balance
19 December 2018
Amendments Introduced
The Australian Taxation Office (ATO) has issued LCR 2016/12DC
Superannuation reform: total superannuation balance for consultation.
The draft ruling makes updates to describe how the Commissioner will
calculate an individual’s Total Superannuation Balance and apply the law
proposed in Treasury Laws Amendment (2018 Superannuation Measures
No. 1) Bill 2018 which applies to limited recourse borrowing arrangements.
QMV recommends that superannuation trustees, administration
service providers review proposed changes and ensure that system
configuration is consistent with the draft ruling – however we note that
application will be most relevant to Self-Managed Superannuation
Fund trustees with LRB Arrangements in place.
Superannuation Income
Stream Benefit Definition
10 December 2018
Guidance
Treasury has issued Treasury Laws Amendment (Miscellaneous
Amendments) Regulations 2018, which amends the Income Tax
Assessment Regulations 1997 to clarify the meaning of “superannuation
income stream benefit”.
The key factor in determining tax treatment of the super benefit is to first
determine whether the benefit is a “lump sum” or “income stream benefit”.
This amendment will allow superannuation funds to continue to claim the
earnings-tax exemption on certain assets.
QMV recommends that superannuation trustees confirm that the
current accounting approach to taxation of income stream benefits is
consistent with the determination.
Policy & Guidance
AML-CTF Superannuation
Sector Guidance
15 December 2018
Guidance Issued
AUSTRAC has published guidance for the superannuation sector on
applying the obligations of the Anti-Money Laundering and Counter-
Terrorism Financing Act 2006. The Guidance intends to assist
superannuation trustees in:
▪ better understanding their obligations under the Act;
▪ identify risks and potential criminal actions arising from the conduct of
superannuation funds and their clients; and
▪ explain how these reporting entities can use their AML/CTF ‘toolkit’ to
mitigate the industry-specific money laundering and terrorism financing
(ML/TF) risks they face.
QMV recommends that superannuation trustees engage the AML-CTF
officer to review existing AML-CTF policies, training and practices to
ensure consistency with the guidance.
🔗Link to Details
🔗Link to Details
🔗Link to Details
6. December 2018 |Pension & Superannuation RegulatoryUpdate
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While all care has been taken in the preparation of this information, QMV Solutions takes no responsibility for any loss or damage
suffered from relying on this information. This information is not intended to be financial, tax or legal advice.
Superannuation Agriculture
Investment
12 December 2018
Report Issued
The House of Representatives Standing Committee on Agriculture and
Water Resources has issued a report on its Inquiry into superannuation fund
investment in agriculture.
The report makes recommendations intended to promote greater investment
in agriculture from the superannuation trustees. Key recommendations
include:
▪ improving agricultural statistics and data available;
▪ reducing tax and duty related barriers to investment;
▪ developing an information and promotion campaign to target
superannuation trustees; and
▪ establishment of a superannuation and agriculture investment working
group.
QMV recommends that superannuation trustees review the report,
considering that the report may be of interest to the investments and
strategic functions. The recommendations do not directly impact
superannuation trustees, however may result in initiatives targeted at
attracting the interest of superannuation trustees and investment
managers.
More Questions or Need Support?
🔗Link to Details
QMV partners with superannuation fund trustees and
administrators to adapt to changes in the legal and
regulatory environment.
If you have any questions or need assistance, you can
contact me directly at jsteffanoni@qmvsolutions.com
Jonathan Steffanoni, Principal Consultant, Legal & Risk