A new white paper from the Financial Planning Association of Australia - the first in a series of projects on fintech from the FPA - is intended to assuage fears by showing how, through the appropriate adoption of technology, its members can achieve greater revenue generation, reduce client costs, and serve more clients with differing levels of advice needs and engagement requirements. The FPA has claimed that its white paper is the only one of its kind that "specifically plots and matches fintech solutions to the financial planning advice process". Westpac trader Satruhan "Zac" Sharma who appeared as a witness in ASIC's blockbuster trial against Westpac, has denied his bank tried to manipulate the BBSW rate, AFR reports. ASIC's case centres allegations the bank manipulated a key financial benchmark, the bank bill swap rate, on 16 separate occasions. Other Westpac employees to appear on Thursday were Bryan Duignan, Patrick "The Sherriff" Stokes and William Hosie.  Sharma was asked to explain the meaning of a transcribed phone call with Colin Roden where his supervisor said he was going to "f—k the rate set" and "f—them right on the 10th". The terms of reference for the Tax Working Group announced yesterday by the new Labour Government in New Zealand say it should specifically consider the benefits of a capital gains tax or land tax, a progressive company tax, and the economic environment over the next five to ten years. However, the Group cannot look at taxing capital gains on the family home or land under the family home. It also cannot look at increasing the GST rate again or suggest anything that could be described as an inheritance tax. Any changes would not be implemented until the 2021 tax year, which would give voters the chance to accept or reject any proposals at the 2020 election, said Finance Minister Grant Robertson. He also told reporters that a proposal to apply GST to online purchases from overseas was still being worked on, and could be fast-tracked ahead of other tax changes if the working group "feel we can make a concrete step forward".