SMSFs (from $295)

Self Managed Super FundsRegister New Company Australia

These are trusts established for the purpose of providing superannuation benefits in the form of retirement benefits, either by lump sum or pension. Superannuation trusts can also include other benefits, such as death and disability benefits.  Self Managed Super Funds (and all super funds for that matter) are governed by the Superannuation Industry (Supervision) Act (SIS).

Only certain individuals can be trustees of a Self Managed Super Fund.  Persons under the age of 18, for instance, are unable to be trustees.  Parents (or guardians) can be  trustees in place of such members.

If a Self Managed Super Fund has two or more Members, all Members of the Fund must be either trustees of the Fund or directors of the Trustee company.

If the Self Managed Super Fund has only one Member, the trustee of the Self Managed Super Fund may be a corporate trustee. To be a complying SMSF the Member can be either the sole director of the trustee company or, if there are two directors of the corporate trustee, the Member must be related to the other director of the trustee company. There can only be two directors of that company. Again, the Member cannot be an employee of the other director of the trustee company.

 

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