Valuation of interests in superannuation funds; Valuation of life tenancies and reversionary interests. Background Families need to determine values of assets held by family members for either family law or estate wind up purposes. Valuations can also be required in connection with Binding Financial Agreements under the...
Long service leave valuations; Sick leave valuations; Annual leave valuations; Superannuation advice; Superannuation fund selection; General consulting. Background Under Australian Accounting Standard 119 (AASB19), reporting entities are required to value their liabilities for employee benefits. These liabilities typically include those related to long service leave, annual leave...
Background Funds paying lifetime and fixed term pensions are required to have annual actuarial certificates. These certificates must show whether there is a high (70%) probability of their being sufficient. These certificates can be used to "segregate" assets into those supporting "current pension liabilities" If assets...
Andep director, Dennis Barton, posted the following to a LinkedIn discussion entitled "Should retirement products focus not only on managing investment related risks but consumption related risk?" Super is indeed only one part of the picture. It’s not well publicised, but there is a similarity between the retirement...
A dispute arose around an oyster farm. The task was to project the income that the farm would have produced but for an interruption in its operations. It involved oyster birth, mortality and harvest rates and market conditions....
Husband had a superannuation pension, which included a right to a widow's pension for his young second Wife. Divorce destroys the right to the widow's pension. The Family Law (Superannuation) Regulations value pension rights allowing for reversionary pensions if the Member Spouse remarries. They do not...
A dispute arose between the vendor and purchaser of a cattle station when a post sale muster revealed fewer than expected cattle. There had not been a muster for several years before the sale and the price was based on an estimate of the carried stock....
Grandma passed away leaving a Dad a life interest in the family home. On Dad's death, his daughter, brother and nieces and nephews were to share the remainder interest, except if they died, the next generation took their shares. The task was to value everyone's share...
One man had an idea for an innovative business venture and another had the capital. They had a loose agreement that the inventor would devote himself full time to the project and the investor would fund it. The inventor wound down an already successful business and started...