SUPERANNUATION

Superannuation - SMSF Help and Guidance

Setting up Your SMSF

Self Managed Super Funds

Superannuation - SMSF

After you make a decision that an SMSF is right for you, you must then decide the type of trustee that is suitable – either a corporate or an individual trustee. Importantly, you must be certain that all the members of the fund are eligible to be trustees and that they meet the residency requirements for a complying superannuation fund.

To comply with legal requirements and ensure that your fund meets the definition of an SMSF, there are a number of basic rules that you will need to follow in the structure and setup of your SMSF. Firstly, ensure that you understand the trustee eligibility requirements are met as not everyone can be a trustee of a self managed super fund. You must also be certain that your fund meets the requirements of being a complying Superannuation fund.

In setting up your fund you have two options available to you – an individual or corporate trustee SMSF:

Requirements For An Individual Trustee SMSF

  • Four or fewer members
  • Each member is a trustee
  • Each trustee is a member
  • No member is an employee of another member (unless related)
  • No trustee is paid for their duties or services as a trustee

Requirements For A Corporate Trustee SMSF

  • Four or fewer members
  • Each member is a director of the trustee company
  • Each director is a member of the SMSF
  • No member is an employee of another member (unless related)
  • No director is paid for their duties or services as a director in relation to the fund

For more information on self managed super funds please call our SMSF specialist advisor on (02) 9821 2455 or complete our online enquiry form.

* We are not financial planners, however, we can provide contact details of financial planners if required. We will provide you independent advice on taxation and administration in relation to Self Managed Superannuation Funds.

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