Skip to Main Content
DIY Super For Dummies, 3rd Australian Edition
book

DIY Super For Dummies, 3rd Australian Edition

by Trish Power
March 2015
Beginner content levelBeginner
376 pages
10h 10m
English
For Dummies
Content preview from DIY Super For Dummies, 3rd Australian Edition

Chapter 8

Individual Trustees versus Corporate Trustee

In This Chapter

arrow Wearing two hats — trustee and fund member

arrow Finding out whether you’re eligible to become a SMSF trustee

arrow Comparing an individual trustee with a corporate trustee

arrow Appointing a corporate trustee

arrow Dealing with the special case of single member SMSFs

I f you want your superannuation savings held in a self-managed super fund (SMSF), you must become a trustee of your fund. As trustee, you look after a fund, a SMSF, that has the legal structure of a trust, and you run the SMSF and make decisions on behalf of fund members — including you! Ordinarily, all trustees must be members of your SMSF, and all members must be trustees. In other words, you can’t be a member of a SMSF without also being a trustee of that fund. This means you wear two hats — SMSF trustee and SMSF member.

A trustee can be an individual or a company. A corporate trustee is a company incorporated under the law that then acts as trustee for the fund. If ...

Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.
Start your free trial

You might also like

The New Retirementality, Fifth Edition

The New Retirementality, Fifth Edition

Mitch Anthony

Publisher Resources

ISBN: 9780730315353Purchase book