News Articles For July 2016
Self-Managed Superannuation Funds (SMSFs), like other superannuation (super) funds allow us to save for our retirement. Unlike other super funds however, SMSFs can only have a maximum of 4 members all of whom must serve us trustees. This means that when you decide to form an SMSF, you will inevitably have to serve as its trustee. Serving as a trustee of a super fund comes with added responsibilities of ensuring that the fund complies with certain super and tax laws.
A Self Managed Superannuation Fund (SMSF) is essentially a superannuation fund which is controlled by you.
A SMSF can have up to four members, all of whom must be trustees (and all trustees must be members). As members and thus trustees, you make all decisions relating to the operation of the SMSF, including how the SMSF’s assets are invested.