Earlier this month, Justice Yates in the Federal Court made declarations that two superannuation fund trustees (one succeeded the other) had contravened … Additional responsibilities include ensuring you are compliant with tax and superannuation laws to protect member interests and entitle the fund to tax benefits. Providing that you understand and uphold your responsibilities as a trustee of your fund, managing your own superannuation … If this is not possible, supporting documentation that demonstrates the asset belongs to the fund, such as declarations of trust or trustee … A trustee of the fund makes the financial decisions concerning the fund. general principle applies to the trustee of a superannuation fund unless the trust deed provides to the contrary.5 9. As an SMSF trustee there are three key trustee obligations. trustees to be proactive if the fund has been the work Winning the superannuation obligations trustees, insurers for the market determination for not include ensuring that the defendants to have … Trustee responsibilities. All trustees are obligated to abide by the fund’s trust deed and the superannuation laws. Superannuation … As an SMSF trustee it is your duty to protect the assets of the SMSF and to ensure that the fund meets the needs of the members and remains compliant with relevant rules and regulations. This was published 10 years ago. … Superannuation … Guide for SMSF trustees Role and responsibilities of trustees Operating a self managed superannuation fund (SMSF). She must keep herself up to date with issues relating to the fund and the superannuation industry. Superannuation Guide - Protecting Superannuation The Superannuation Industry (Supervision) Act sets out the responsibilities of trustees. A trustee should always act as per the best interests of all members of the SMSF. A requirement of superannuation law is that the assets of a fund must be in the name of the individual trustees or the corporate trustee. An overpayment to a beneficiary may be recovered, as a matter of general law, out of payments due, in the future, to that beneficiary.6 10. It is commonplace, in addition, that superannuation fund … In brief 14 min read. Trustees of a superannuation fund (other than the trustee of a self managed superannuation fund) will typically not know that a superannuation interest of one of its members may become the subject of a splitting order or agreement until contact is made with the trustee administration. Directors of corporate trustees will also have to comply with the company’s … [33] Different criteria might be thought to apply to the operation of a superannuation fund from those which apply to discretionary decisions made by a trustee holding a power of appointment under a non-superannuation trust. The non-member spouse also has responsibilities … NAT 11032–07.2007 nn11032-07-2007.indd i11032-07-2007.indd i …

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