Powell and Christensen

In the matter of *Powell and Christensen*, Gill J considered an application concerning the Christensen Super Fund. The applicant and respondent were identified as the sole members and joint trustees of the fund. The dispute centred on the need to make the superannuation fund compliant with relevant legislation and tax obligations.

The court was required to determine the steps necessary to rectify the non-compliance of the superannuation fund. This included the preparation of financial statements, member statements, trustee resolutions, minutes, audits, and the lodging of tax returns for several outstanding financial years. The court also needed to address the payment of associated fees and potential penalties.

Gill J ordered that the respondent provide a copy of the Trust Deed within 14 days. The applicant was directed to take all necessary steps, including providing instructions and information to J Accountants, to ensure the fund's compliance with the *Superannuation Industry (Supervision) Act 1993* and other regulations. This involved the preparation of financial records, audits, and tax returns for specific periods. The applicant was authorised to use fund assets to pay for these services and any tax liabilities or penalties. Both parties, in their capacity as trustees, were ordered to sign all necessary documents promptly. The applicant was also to file an affidavit with the court confirming compliance and attaching relevant statements and a letter from the accountants. Any dispute regarding valuations was to be notified within seven days of the filing of the accountant's affidavit.