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Showing 41 - 50 of 70 results for "Sole Purpose Test"

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 ...

DomaCom to ease issue of retirement funding

JAMIE WILLIAMSON  |  FRIDAY, 28 JUL 2017
... property rented by a related party; and that the DomaCom Fund is one widely held trust and does not breach the sole purpose test. A case management hearing is scheduled for 8 August at which an actual hearing date will be set. If successful, SMSFs will ...

Super funds eye impact investing structures

LAURA MILLAN  |  WEDNESDAY, 21 OCT 2015
... 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 ...

APRA to look into The New Daily

JAMES FERNYHOUGH  |  FRIDAY, 29 NOV 2013
... 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 ...

Art lobby wins fight to keep SMSFs art-friendly

SPAA MEDIA STATEMENT  |  MONDAY, 2 AUG 2010
... 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 ...

NSW man sentenced for early super release

ASIC RELEASE  |  TUESDAY, 30 MAR 2010
... 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 ...