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  2010

Beneficiaries' Interests in Super Funds - Trust And Property Law Concepts at Work

Source: New South Wales

Published Date: 16 Feb 2010

 
Immense amounts of Australian wealth are held in superannuation funds and that situation will continue into the future. If O'Loughlin J is correct, members of super funds have the flimsiest of interest in the trusts to which they have contributed for a lifetime and will depend on for their retirement. The notion of "accrued benefits"? is a critical feature of superannuation legislation and together with subsequent decisions (from Australia and like jurisdictions) throws real doubt on O'Loughlin J's view. This event covered the following issues:
  • the trust and property law concepts of an "interest"? in the fund
  • the relevance of CPT custodian
  • the operation of regulation 13.16 of the SIS Regulations
  • the statutory notions of "fund"?, "benefit"? and "accrued"?
  • "Minimum benefits"? concept
  • the relevance of air products Canada v Schmidt (Canadian Supreme Court)
  • APRA's view
  • bankruptcy law intervention.

The nature of a beneficiary's interest in a superannuation fund and accrued benefits

Author(s): John V Edstein CTA
Materials from this session:

Details

  • Published On:16 Feb 2010
  • Took place at:The Grace Hotel, Sydney

The material is copyright. Apart any fair dealing for the purpose of private study,

research critisism or review, as permitted under the copyright Act, no part may be rerpoduced by any process without written permission from The Tax Institute.

Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

This material is copyright. Apart from any fair dealing for the purpose of private study., research, critisism or review, as permitted under teh copyright Act, no part may be reproduced by any process without written permission from The Tax Institute.

Unless expressly stated, opininons are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

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