Some of our superannuation fund trustee clients have been receiving communications from organisations which facilitate, at little or no cost, the transfer of small share parcels or the transfer of dividends to nominated charities. As individuals they can do what they wish with their personal assets but, as trustees, they are not able to donate superannuation assets.

If a Trustee member wishes to donate some shares or allocate dividends to a charity, the assets or monies must first be paid out to the member as a fund benefit subject to preservation rules. The individual member may then make the donation personally.

It might seem a circuitous way to do something simple and generous but the rules are clear.

David Busoli
Cavendish Superannuation Pty Ltd,
50 Pirie Street, Adelaide, S.A. 5000.
ABN 30 007 778 341, AFSL 276133