This is a comprehensive guide tells you everything you need about Self Managed Super Funds (SMSF)

Self Managed Super Funds (SMSF) differ to normal retail super fund in a way that members are self-managing their own superannuation fund. Members are not only responsible for the overall investment strategy but also responsible for the legal and statutory requirements. A SMSF has the following characteristics:

  • SMSF has less than five members and all the members are the trustee of the superfund.
  • If the fund has individual trustees, all members must be the trustee.
  • If the fund has corporate trustee, all members must be director of the corporate trustee.
  • No member of the fund is an employee of another member unless they are related.