Previously, trustees of self managed superannuation funds were required to perform their duties and exercise their powers in the best interests of the beneficiaries of the fund. This requirement was imposed by s52B(2)(c) of the Superannuation Industry (Supervision) Act 1993.
trustees
Are you up to speed on the latest process to rollover a member of an SMSF?
Rollovers from one SMSF to another must comply with the technical requirements. Elizabeth Wang from Townsends Law has summarised those requirements to save you time.
Watch out for ATO penalty units
The ATO can impose administrative penalties on individual trustees and the directors of corporate trustees if they contravene certain provisions of the Superannuation Industry (Supervision) Act 1993 (SISA).
Hands off! Getting money back from a trustee
What happens when a trustee places the beneficiary’s money into their own account?
The 6-member super fund is for more than just big families
Jumbo funds may open the opportunity for self-managed super to be seen more as an asset holding structure rather than simply a tool for families.
Does your SMSF need to take out life insurance?
Trustees of SMSFs must not forget their duty to consider life insurance for their members.
SISFA relaunches membership to SMSF trustees
Self-managed Independent Superannuation Funds Association (SISFA) has redesigned and is relaunching its membership offering for SMSF trustees.
What trustees need to consider in closing an SMSF
What do trustees need to consider when winding up an SMSF?