Thursday, 9 March 2023
Questions without Notice
Stephen Jones (Whitlam, Australian Labor Party, Assistant Treasurer) Share this | Hansard source
I was asked by the member for Grey about a hypothetical situation with a small self-managed superannuation fund that had a farm in it. I made the observation that, under the existing law, under the existing superannuation administration act, trustees have obligations. Indeed, under section 52(b) of the legislation, trustees have existing obligations. They have obligations to have regard to the liquidity of assets within their fund, the diversity of assets within their fund and the ability of the fund to discharge its obligations, including taxation obligations. I stand by the answer that I gave yesterday.