Specialist self-managed superannuation fund company Cavendish Superannuation has warned trustees to take care with respect to charitable donations.
Cavendish Superannuation head of education David Busoli said care was needed in circumstances where some trustees had received communications from organisations which facilitate the transfer of small parcels or shares or 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," Busoli said.
"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."
