There is a special type of relationship called a fiduciary relationship. Trustees of SMSFs are in a fiduciary relationship in respect of the beneficiaries of the SMSF. The most recently available ATO statistics state that there are 1,006,975 members of SMSFs, so presumably there are a similar number of SMSF trustees (or directors of [read more]
Since 2010 I’ve been lecturing at Melbourne University, presenting the SMSF component of the Master of Laws subject ‘Superannuation Law‘. Melbourne University is my ‘alma mater’. I fully enjoyed studying there for my undergraduate degrees and masters degree and I’m always very happy to be able to give back to the legal community. I’m lecturing [read more]
Many do not realise the extent of the disqualified person provisions in the Superannuation Industry (Supervision) Act 1993 (Cth) (‘SISA’). This can result in a person inadvertently acting as trustees of self managed superannuation funds (‘SMSF’) while disqualified. Doing so exposes these trustees to significant penalties. We explore some of the nuances of the disqualified [read more]
