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|Search Results||Showing 1 - 10 of 46 results for "Sole Purpose Test"|
|... trustee landlords offering rent relief to those facing financial hardship could mean they fail to meet the sole purpose test. Breaching the sole purpose test is not the only issue SMSF trustees could run into when attempting to provide rent relief for ...|
|... questioned by Tim Wilson over whether political donations made by ISA or its member funds could possibly pass the sole purpose test. Dean was adamant that ISA does not make political donations. "ISA doesn't give money to political organisations," ...|
|MP Tim Wilson has argued industry super funds' ownership of ME Bank is at odds with the sole purpose test as the bank has yet to pay dividends. Following ME Bank's controversial decision to slash redraw balances on some legacy home loans, and ...|
|... capacity." However, the FSC added superannuation funds have legal obligations to invest with regard to the sole purpose test, which requires funds to be maintained for the sole purpose of delivering retirement benefits to members. "Each individual fund ...|
|... special counsel at Mills Oakley, explained the case has ramifications for the ways super funds interpret the sole purpose test. "The sole purpose test is 25 years old and guidance is warranted, especially in what appears to be an era of social and environmental ...|
|... members and reviewing investment management decision-making processes, he says. "What is clear is that the super sole purpose test means funds have a primary duty to ensure the fund provides benefits to its members on their retirement," he adds. The ...|
|... of circumstances where services are not provided and substantiate if the deductions are consistent with the sole purpose test and in the best interests of members. They emphasised that "care needs to be taken to ensure that controls do not place undue ...|
|... of interest, data and reporting, accountability and remuneration, insurance and inactive accounts, and the sole purpose test. On the issue of the sole purpose test APRA said: "The industry has previously noted that there is ambiguity around the intent ...|
|... of superannuation regulation, as the industry debates whether bonus frequent flyer points schemes breach the sole purpose test. AustralianSuper is currently offering 20,000 Qantas points to members of the airline's frequent flyer program if they join ...|
|... Sunsuper has introduced financial advice fee caps to combat unnecessary balance erosion, further ensuring the Sole Purpose Test is met. From this week, the $60 billion industry fund has capped the fees payable to a financial adviser via a clients' ...|
Charities have called on the government to plan for a gradual transition of its stimulatory payments so as to avoid the loss of more than 200,000 jobs in the sector.
A fund manager will remediate clients in eight funds after a recent review of its management costs identified a unit pricing error.
Equity Trustees has handed over the management of Newgate Real Estate and Infrastructure Fund to a new manager, as Newgate Capital announces its intention to retire from the fund.
Zurich Australia and OnePath Life announced donations to 20 charities with COVID-19 response funding.
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