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Created by IQuium Consulting

Australia

  • Karina Dorogi

Technical Update: Differences between SMSF trustee structures


Image source: https://www.ato.gov.au


Note: Single-member funds have different trustee features to funds with two to four members. Refer to table 2 for information


Member and trustee requirements


Table 1: Comparison of member and trustee requirements for individual and corporate trustees


Table 2: Single-member funds – Comparison of member and trustee requirements for individual and corporate trustees


Cost


Table 3: Comparison of the costs associated with individual and corporate trustees

Ownership of fund assets


The title of fund assets must be in the name of the current trustees 'as trustees for' the fund.


Table 4: Comparison of ownership of fund assets for individual and corporate trustees

Separation of assets


The fund's assets must be kept separate from any assets members hold personally.


Table 5: Comparison of the separation of assets for individual and corporate trustees

Penalties


Table 6: Comparison of penalties for individual and corporate trustees

Succession


Table 7: Comparison of succession for individual and corporate trustees

Source: https://www.ato.gov.au

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