Search Results | Showing 41 - 50 of 64 results for "Sole Purpose Test" |
| | ... returns, then it is not inconsistent to the trustee obligations," he said, adding: "there is a deeper thing; the Sole Purpose Test that defines the obligations of superannuation trustees was defined when the size of the super system was negligible compared ... |
| | | ... 2UE, the Assistant Treasurer said the prudential regulator was looking at the issue. "[U]ltimately there's a sole purpose test, which relates to the purpose for which, you know, investments are being made and all the rest of it," the Assistant Treasurer ... |
| | | ... report. At present, SMSFs can invest in artworks and other collectables provided they met the superannuation "sole purpose test" and in-house asset rules. "We believe that strengthening guidelines on how the assets are kept, rather than preventing SMSFs ... |
| | | ... statement, he had failed to ensure his SMSF (Kassongo Superannuation Fund) was maintained in accordance with the sole purpose test, which prohibits trustees maintaining self managed super funds, for any purpose other than to provide retirement benefits ... |
| | | ... poses a liquidity strain and alikens a super fund to a bank, as opposed to a long-term retirement vehicle. "The sole purpose test requires us to invest in the long-term...and that's challenged by the 30-day portability rule. There's no doubt that there's ... |
| | | ... last week entered a consortium to snap up collapsed Timbercorp's forestry assets, will not be in breach of the sole purpose test if the deal was to be finalised, said a superannuation expert. Michael Vrisakis, partner at law firm Freehills, said First ... |
| | | ... potentially attract the attention of prudential regulator and whether buying assets in Timbercorp breaches the "sole purpose test". First Super has declined to comment and it is not known how many, if any, of Timbercorp employees are fund members. First ... |
| | | ... Superannuation Fund (KSF), Atan Kassongo, in dishonestly failing to ensure the fund was maintained in accordance with the sole purpose test. ASIC alleges that the preserved superannuation benefits of 192 superannuants totalling $4,055,043 were deposited ... |
| | | SMSF trustee Gerard Karl Little has been charged by ASIC for failing the sole purpose test after he obtained early access to funds and pocketed $685,000 in commissions. Little, of Castlecrag, New South Wales, appeared in the Downing Centre Local Court ... |
| | | ... become the first SMSF trustee to be charged by ASIC for failing to maintain the fund in accordance with the sole purpose test. Kassongo, 51, was charged by the Australian Securities and Investments Commission with dishonestly failing to ensure the Kassongo ... |
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