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SMSF Trustee Check-up |
Your trustee obligations
As a SMSF trustee you are ultimately responsible for your fund, so it is imperative that you clearly understand your duties, responsibilities and obligations as set out in the Superannuation Industry (Supervision) Act 1993 (SIS Act) and the Superannuation Industry (Supervision) Regulations 1994. If you fail to meet your obligations then you risk your fund being deemed non-compliant and losing its tax concessions, being disqualified as a trustee, penalties and/or prosecution. Of course, while your trustee obligations are a high priority, we understand your primary focus is to fund your future retirement benefits.
Outlined in the following slides are a number of requirements that you should consider as a SMSF trustee. Although at present we have not been engaged to provide advice surrounding these obligations, if you would like to discuss any of these matters in greater detail simply check the appropriate boxes.
Outlined in the following slides are a number of requirements that you should consider as a SMSF trustee. Although at present we have not been engaged to provide advice surrounding these obligations, if you would like to discuss any of these matters in greater detail simply check the appropriate boxes.