In the media
Real estate yields on super funds'
radar
MEDIA – 08 November 2012 -Sovereign and superannuation
funds' direct investment in property is expected to increase in
the coming year as managers seek higher-yielding returns. While
some individual pension funds might have real estate allocations as
high as 15 to 20 per cent, in most countries it remains below 10
per cent on average (08 November 2012).
More...
Super's growth a challenge for ASIC
MEDIA – 07 November 2012 - Superannuation's growth over
the next decade is one of the biggest challenges facing
Australia's corporate regulator, according to ASIC chairman
Greg Medcraft. As the size of the superannuation sector expands to
$3 trillion over the next decade, the extra products, investors and
funds will mean more risk to the financial system. More...
ASIC releases new financial requirements for responsible
entities
ASIC - 07 November 2012 - Under new changes, which are the first
significant changes in more than a decade to the rules covering
financial requirements for MISs, REs must prepare 12-month
cash-flow projections which must be approved at least quarterly by
directors.
More...
ASIC to seek penalties against operators of unregistered
offshore managed investment funds
ASIC – 06 November 2012 - A date has been set down for next
month to determine the penalty to be given to the unlicensed
operators of more than a dozen offshore managed investment funds,
which targeted Australian investors and self managed superannuation
funds.
More...
ASIC updates guidance on financial requirements for AFS
licensees
ASIC – 01 November 2012 - ASIC have released guidance,
clarifying the financial requirements with which Australian
financial services licensees must comply as part of their licensee
obligations.
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Default fund legislation passes house
MEDIA – 01 November 2012 - The Federal Government's
legislative changes (the Fair Work Act) to the selection of default
funds under modern awards have passed the House of Representatives,
despite industry and Coalition misgivings.
More...
Industry funds snare retail member market
share
SUPERREVIEW – 30 October 2012 - Members have been turning
away from retail and corporate funds in favour of industry funds, a
Deloitte report into Australian Prudential Regulation Authority
(APRA) superannuation fund statistics claimed.
More...
How can the superannuation sector invest in innovation /
Gordon Noble, Director Advocacy and Policy Strategy,
ASFA
Address to AusBiotech 2012 on 02 November 2012 More...
ASFA Submissions 2012
5 November 2012 -
Submission to Australian Taxation Office - Superannuation data
and payment standard and associated schedules.
Current Consultations
Reporting standards for superannuation – discussion
paper
Submissions close 16 November 2012 Hosted by the Australian
Prudential Regulation Authority
Reporting standards for superannuation - discussion paper
Cases
Sullivan and Commonwealth Superannuation Corporation
[2012] AATA 774
DEFENCE FORCE RETIREMENT AND DEATH BENEFITS – applicant
served with Australian peacekeeping force in the Sinai –
discharged administratively – evidence that applicant
suffered from post-traumatic stress disorder at time of discharge
– whether applicant should be treated as if he was retired on
ground of invalidity, or physical or mental incapacity to perform
duties – decision under review affirmed. More...
Dickinson and Commissioner of Taxation [2012] AATA
762
SUPERANNUATION – Contributions – Excess contributions
tax – Discretion to move excess contribution to another
financial year – Discretion to be exercised only where there
are special circumstances – Decision under review affirmed.
More...
Australian Medical Services Pty Ltd and Commissioner of
Taxation [2012] AATA 758
SUPERANNUATION - Nominal interest component of the superannuation
guarantee contribution imposed under the Superannuation Guarantee
(Administration) Act 1992 - whether nominal interest could be
remitted – decision affirmed. More...
Sharp v Maritime Super Pty Ltd [2012] NSWSC
1350
DEEDS - question of construction of superannuation trust deed -
consideration of principles applicable to contractual construction
TRUSTS - duty of trustee to determine application by plaintiff -
where trustee proceeded on basis of what has now been found to be
an incorrect construction of the relevant Rule - whether matter
should be remitted to trustee to make determination having regard
to proper construction or whether Court should make a determination
as to the entitlement claimed - where no evidence that trustee
previously acted in bad faith - HELD - matter remitted to trustee
for determination - Superannuation (Resolution of Complaints) Act
1993 (Cth); Superannuation Industry (Supervision) Act 1993 (Cth).
More...
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