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Showing 11 - 20 of 70 results for "Sole Purpose Test"

Objective will not achieve any real purpose: IFPA

ANDREW MCKEAN  |  WEDNESDAY, 29 MAR 2023
... and financial services Natasha Panagis suggested that the true purpose of super can be found in the existing sole purpose test. "The core objective of superannuation is better captured by the sole purpose test which simply requires that superannuation ...

Adviser banned over early release scheme

JAMIE WILLIAMSON  |  WEDNESDAY, 3 AUG 2022
... breach the restrictions on the early release of super, but it also resulted in their SMSFs not satisfying the Sole Purpose Test. "Mr Simeone's conduct demonstrated he was not adequately trained or competent, was not a fit and proper person and was ...

AFA hits back at QAR submissions from Choice, ISA

CASSANDRA BALDINI  |  MONDAY, 11 JUL 2022
... came from his lack of understanding of the value of financial advice and a tight view of the application of the Sole Purpose Test." AFA added the call for the banning of life insurance commissions is equally based upon flawed logic and its removal would ...

Top super funds for ESG revealed

RACHEL ALEMBAKIS  |  FRIDAY, 1 JUL 2022
... implements ESG principles; and performance, or whether the fund achieves its investment objectives and satisfies the Sole Purpose Test. "Funds have clearly stepped up how they are trying to explain their ESG implementation," Rainmaker executive director ...

Superhero to offer Qantas points

ELIZABETH MCARTHUR  |  MONDAY, 4 APR 2022
... each new member. The promotion sparked some criticism from the industry, with concerns it conflicted with the sole purpose test. Last month, ASIC announced it would take part in worldwide work on the changing landscape of retail trading markets as part ...

ABC, ISH arrangement faces scrutiny

KARREN VERGARA  |  MONDAY, 29 MAR 2021
... on why members' money is being used to fund media outlets such as the ABC and The New Daily and pass the sole purpose test. "How much money have they paid ABC in the last five years? How are you not worried that they are paying the chief economics ...

SMSFs primed for best financial interests duty

KARREN VERGARA  |  TUESDAY, 16 FEB 2021
... sector should have no concern about. "SMSFs have always been held to a very high standard when it comes to the sole purpose test, and transactions and decisions that could result in members deriving a personal benefit from the use of fund assets have ...

DomaCom to deliver affordable housing

ANNABELLE DICKSON  |  MONDAY, 9 NOV 2020
... investment returns. "This is particularly important to superannuation funds as they are required to comply with the Sole Purpose Test when investing and are not able to accept discounted investment returns even if it is for a good social purpose," he ...

Super funds squander member money: Bragg

KARREN VERGARA  |  THURSDAY, 24 SEP 2020
... wants to see better governance in how members' money is spent, pointing to how such conduct is failing the Sole Purpose Test. While Bragg insists that he does not want to upend or abolish the entire system, he would rather see members get "more bang ...

APRA reopens for licences

ANNABELLE DICKSON  |  MONDAY, 10 AUG 2020
... accounting framework; and the prudential standard for insurance in superannuation and updated guidance on the sole purpose test. "In January this year, APRA published an ambitious policy agenda. The onset of COVID-19 necessitated the suspension of many ...

Editor's Choice

Australia an 'efficient' market for multinationals

MATTHEW WAI
A new report by Mercator by Citco (Mercator) has revealed that while multinational organisations face significantly higher operations demands in Asia-Pacific (APAC), Australia has proven to be one of the most efficient markets.

Brighter Super default members earn 11% in FY25

KARREN VERGARA
Brighter Super's MySuper option achieved 10.9% p.a. for the 2025 financial year, exceeding performance for the medium and long term.

SIAA chief executive steps down

ELIZA BAVIN
Stockbrokers and Investment Advisers Association chief executive Judith Fox will step down after six years in the role.

GQG assets hit record high despite underperformance

KARREN VERGARA
GQG Partners' assets jumped $4 billion to reach a record high of US$172.4 billion for the 2025 financial year despite experiencing "short-term relative underperformance".

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