Part 1: Understanding the Gainer Associates Decision: A Critical Examination of SMSF Governance

The recent NSW Supreme Court decision in Gainer Associates Pty Limited [2024] NSWSC 1138 sheds light on critical issues surrounding self-managed superannuation funds. This case intricately examines  issues of trustee responsibilities, compliance with the Superannuation Industry (Supervision) Act 1993, and the necessary judicial oversight in potentially contentious situations.

The court emphasised the need for trustees to maintain clear documentation and adhere to the Superannuation Industry (Supervision) Act 1993. This case serves as a vital reminder for trustees regarding the complexities of compliance and the significance of transparency in governance..