Once you have decided to set up an SMSF, you will need to:
For your Fund to be a compliant SMSF, it needs to meet several requirements under the Superannuation Legislation. The requirements are different depending on the Trustee structure of the Fund:
If your SMSF has a Corporate Trustee, it is an SMSF if all of the following applies:
If you have a Corporate Trustee for a single Member Fund, the Member needs to be one of the following:
You can also have two individual Trustees. One Trustee needs to be a Member and the other needs to be one of the following:
The ATO also has a good video explaining in details on the structure of Trustees that an SMSF can adopt, please see below.
To be a Member and Trustee of the Fund, you will need to complete a Member Application form and Trustee Consent. For our template, please click on the button below:
We are Melbourne based with clients throughout Australia. Our SMSF administration service is mostly paperless. This enable us to charge a fair fee, resulting in a good value-proposition for you.
Superannuation Warehouse is an accounting firm and do not provide financial advice. All information provided has been prepared without taking into account any of the Trustees’ objectives, financial situation or needs. Because of that, Trustees are advised to consider their own circumstances before engaging our services.
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