Chapter 8
Individual Trustees versus Corporate Trustee
In This Chapter
Wearing two hats — trustee and fund member
Finding out whether you’re eligible to become a SMSF trustee
Comparing an individual trustee with a corporate trustee
Appointing a corporate trustee
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 ...
Get DIY Super For Dummies, 3rd Australian Edition now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
