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Showing 61 - 70 of 70 results for "Sole Purpose Test"

First Home Saver proposal a winner

ALEX DUNNIN  |  TUESDAY, 6 NOV 2007
... contributions to be used for a first home deposit." "But this policy proposal avoids the whole question of the Sole Purpose test. It keeps it clean and simple," said David Williams, a spokesperson for max Super. Reflecting this, "First Home Saver Accounts ...

Church funds take youth off the streets

MICHAEL HOBBS  |  TUESDAY, 11 SEP 2007
... and Retirement Fund (CSRF). He said the donation was given outside of the funds management and therefore the sole purpose test was not an issue. "We chose Youth off the Streets as our charity because it is a non-denominational community organization ...

ATO releases draft rulings on SMSFs

... comment," he said. The draft ruling SMSFR 2007/D1 sets out the ATO's early discussions on the nature of the sole purpose test and sets out a number of factors that determine whether or not a benefit will breach the test. Meanwhile, a separate draft determination ...

Super funds could offer transaction banking

WWW.THESHEET.COM  |  MONDAY, 19 FEB 2007
... the regulators seem to indicate that this [providing direct access to member's funds] could fall within the sole purpose test, as long as it is within the pension stream parameters that have been set and that is basically the minimum and maximum pull ...

Scale is king and it saves members money too

ALEX DUNNIN  |  THURSDAY, 24 AUG 2006
... sometimes criticised for spending money on marketing campaigns even though such campaigns do not breach any sole purpose test concerns, McIvor said, "Our feedback is our members are really pleased to see our brand up there with all the others."

Sporting sponsorships do not breach sole purpose: Freehills

ALEX DUNNIN  |  FRIDAY, 11 AUG 2006
... sponsoring sporting teams is more a question about how trustees manage their fund rather than being about the sole purpose test. Peggy Haines, partner with leading legal firm Freehills, speaking at the annual Fund Executives Association Limited conference ...

APRA charges plastering super director and accountant

KATE HAGE  |  FRIDAY, 21 APR 2006
... brought charges against a director and accountant of a superannuation fund after they allegedly contravened the sole purpose test and created false records to deceive APRA. Wayne Ridings, former director of the trustee of the Wall and Ceiling Superannuation ...

APRA punishes errant super trustees

... Federal Court against the trustees where they were found to be in breach of the arms length dealing rules and the sole purpose test as defined in the Superannuation Industry (Supervision) Act 1993. As a result the Derstepanians agreed to pay compensation ...

APRA investigation leads to criminal charges

... charges under the Superannuation Industry (Supervision) Act 1993 (SIS Act) relating to contraventions of the sole purpose test, an alleged scheme to avoid the in-house asset rules and allegedly making and keeping records with the intention of deceiving ...

APRA warns super funds over choice advertising

... warning them that some advertising and marketing campaigns before the introduction of choice may breach the sole purpose test and a trustee's duty to members. The letter was sent out on Monday to those trustees who administer funds regulated by APRA ...
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