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.
Your Future Your Super
SuperCentral reviews recent superannuation changes
The Government’s 2018 Budget proposal to allow Self Managed Superannuation Funds (SMSFs) to have up to 6 members has now been finally passed by both the House of Representatives and the Senate.
SUPERCentral is an independent online platform provider of SMSFs, advice, legal documentation and wealth management services to accounting and financial planning firms throughout Australia.