Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 31 - 40 of 65 results for "Sole Purpose Test"

AFA rejects criticism over grandfathered commissions

JAMIE WILLIAMSON  |  WEDNESDAY, 26 SEP 2018
... has called for the introduction of guidance around advertising by super funds, taking into account both the sole purpose test and consumer confidence.

DomaCom concludes Federal Court action

KARREN VERGARA  |  TUESDAY, 25 SEP 2018
... even if a related party is a tenant in the underlying property. Last month, the Federal Court found that the sole purpose test was not breached when a related party of an SMSF rented a Burwood property held by the DomaCom fund. The Court said the primary ...

Retail super funds in hot water: Royal Commission

KARREN VERGARA  |  MONDAY, 27 AUG 2018
... rise to the following issues: if political advertising is consistent with the intention behind section 62 the sole purpose test of the SIS Act.

Super funds cop governance grilling

HARRISON WORLEY  |  TUESDAY, 21 AUG 2018
... Hayne said some of the propositions in play were whether this met the perceived interest of members and the sole purpose test. Beginning the hearings, Hodge said super funds had been left "alone in the dark with our money," and questioned whether funds ...

Federal Court rules partly in favour of DomaCom

HARRISON WORLEY  |  TUESDAY, 14 AUG 2018
A Federal Court ruling on a potential breach of the Sole Purpose Test has been termed a "milestone" for the SMSF industry, however there are still hurdles to clear before sub-funds are not considered in-house assets or related trusts under the SIS (Superannuation ...

Royal Commission revisits fees for no service

KARREN VERGARA  |  MONDAY, 6 AUG 2018
... its indirect investment in renewable energy company Pacific Hydro via a fund managed by IFM. As satisfying the sole purpose test will be an overarching theme of the inquiry, Hodge said Industry Super Australia's use of members' money to fund ...

Super funds suit up for Royal Commission

KARREN VERGARA  |  MONDAY, 6 AUG 2018
... special counsel Luke Hooper says an obvious starting point is whether the use of members' money meets the sole purpose test and is consistent with the Superannuation Industry (Supervision) Act 1993. Advertising and marketing expenditure, for example ...

The case for indexed annuity bonds

KARREN VERGARA  |  MONDAY, 30 JUL 2018
... obligations to seek the best financial interests of their beneficiaries and are by no means restricted by the sole purpose test," it said.

DomaCom unitholders approve new trustee

JAMIE WILLIAMSON  |  THURSDAY, 30 NOV 2017
... In addition, DomaCom provided an update as to its ongoing Federal Court hearing as to the SMSF related party/sole purpose test implications of the DomaCom Fund. The hearing was held in Melbourne earlier this week with an outcome yet to be delivered. ...

First home super scheme may not make it to parliament in 2018

EMMA RAPAPORT  |  TUESDAY, 8 AUG 2017
... had significant reservations about this measure, and it's relation to the objective for superannuation. "The sole purpose test generally requires that superannuation funds be required to maintain benefits for members' retirement, or for insurance related ...