The decision to set up a self-managed super fund ( SMSF ) is one that is often followed by a decision surrounding the fund’s membership. While almost anyone can be a member of your fun this decision needs to be carefully considered because it may influence the fund’s structure and potentially introduce additional risks by providing decision-making powers to children. An individual SMSF structure can be a single- member fund but only if there are two trustees and the non- member trustee does not have an employer-employee relationship with the member.
The only exception to the latter is when the non- member trustee is a relative of the member. Having a corporate trustee allows for one to four directors in the company, all of which must also be members of the fund.
That child is not able to act as. How many members does a SMSF have? What is the definition of SMSF? Can a SMSF be a director? Superannuation The change.
All members of a self-managed super fund ( SMSF ) must be individual trustees or directors of the corporate trustee. New funds usually appoint trustees or directors unde.