Re: Superannuation Amendments Bill (No 3) 1999
Dear Senators et al,
I am concerned over the amendments in this bill that would effectively
make a properly constructed self managed superannuation fund illegal.
My situation is that last year I set up the BMMG Superannuation Fund,
abiding by all the correct and proper procedures. It was and still is
my intent to include my partner (Michael Goh) in this fund. Indeed the
letters BMMG come from our names. After the fund was set up Michael's
company based superannuation contributions were moved to the BMMG fund
and Michael was made a trustee.
The amendments that are proposed under this bill will make our fund
illegal as being a same sex couple we do not qualify under the definitions
of relative in the bill.
From the second reading speech for this bill I notice references to
the Financial Systems Inquiry and that inquiry concluded “…excluded
funds should not have beneficiaries who are at arm's length from the
trustees.” This appears to me to be the basis for “..the new
definition will require that all members of the fund have a business
or family relationship and that they are trustees of the fund.”
It seems to me that the issues raised in the Financial Systems Inquiry
are solved, at least in our case, by having Michael as a Trustee. He
is; so why is it necessary to prejudice us by excluding Michael through
the definition of relative.
Recently the New South Wales government passed legislation that recognizes
same sex couples in property matters; Property (Relationships) Legislation
Amendment Bill 1999. Although I appreciate that Federal and State governance
is separate wouldn't prejudicing same sex couples in the Superannuation
Amendment Bill # 3 be in contradiction to the NSW Property (Relationships)
Legislation Bill 1999. If not by strict interpretation of law at least
in principle?
Thank you for the time taken in considering our position and I hopefully
look forward to an amendment to this bill that eradicates this prejudice.
Yours Sincerely
Bruce Minchinton
PS I can be contacted via return e:mail at this address or:Phone: BH
(02) 9320 4050 AH (02) 9550 5987 Mob 0419 261 799 FAX (02) 9261 5630
E:mail brucemm@ozemail.com.au