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Trustees’ Responsibilities over the SMSF

Control of Your SMSF and Its Associated Responsibilities

As a direct trustee of your own Self-Managed Superannuation Fund (SMSF), you have the unique opportunity to take control of your retirement savings. This page provides valuable insights into what it means to be a direct trustee and the advantages it offers.
smsf provides flexibility in investment combination

Advantages of having an SMSF

Control: Direct trustees have complete control over investment choices, allowing you to tailor your SMSF’s portfolio to your financial goals and risk tolerance.

Flexibility: Direct trustees have the flexibility to adapt investment strategies quickly in response to market changes and personal circumstances. Decides when to make pension payment to eligible members. Ability to accept certain in-specie contributions

Tailored Strategy: You can design a unique investment strategy that aligns with your retirement objectives and preferences.

Responsibilities of a being a Trustee

Compliance: As a direct trustee, you are responsible for ensuring your SMSF complies with all relevant laws and regulations.

Record Keeping: Maintaining accurate and up-to-date records is crucial for tracking contributions, investments, and expenses.

Reporting: Direct trustees are required to lodge annual tax and regulatory returns for the SMSF.

Investment Strategy: Developing and regularly reviewing an investment strategy that aligns with your retirement goals is essential.

 
Control over SMSF

How We Can Help

At SMSF Solutions Australia, we specialize in assisting direct trustees like you in meeting the reporting obligation and compliant with SIS Act 1993. Our experienced team provides guidance on compliance, tax return and financial reporting. Contact us today to learn how we can support your journey as a direct trustee and help you to achieve a stress-free reporting.

  • Detailed financial, investment and member reports
  • Annual tax return and compliance pack
  • Business Activity Statement for GST reporting for Commercial property
  • TBAR report
  • Centrelink schedule
  • Super Stream ready for rollover-in/out
  • Electronic Service Address - ESA
  • ASIC agent

Further Information

Online Enquiry Form

Ask us anything you might have about SMSF. We will reply to you within a business day.

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SMSF SOLUTIONS AUS PTY LTD & THE BROOK HILLS TAX ACCOUNTANT PTY LTD AS PARTNERS FOR ARCH PARTNERS ABN 67 487 335 799; TAX AGENT REGISTRATION 26214880

General Advice Warning:

No Advice Express or Implied: The information presented on this website is of a general nature and has not been crafted to accommodate the specific objectives, financial situation, or individual needs of any particular investor. SMSF Solutions refrains from providing financial product advice or endorsing any financial products, either explicitly or implicitly. It is explicitly stated that SMSF Solutions neither recommends nor represents any financial product or service available through its platform, including those established for your SMSF upon becoming a client. 

Seek Professional Advice from a Financial Adviser: SMSF Solutions operates on a no-advice model and does not dispense financial, legal, or tax advice to clients. It is strongly advised that clients seek appropriate professional advice based on their personal circumstances. A licensed financial adviser can assess an individual’s situation and provide recommendations suitable to their financial needs. All information on the SMSF Solutions website is factual and general in nature, and therefore, reliance on it should be avoided. Trustees bear legal responsibility for all decisions made, even if advice is sought from a financial planner. While financial professionals can offer guidance and assistance, ultimate responsibility for the fund lies with the trustees.

ARCH PARTNERS and its employees wish to acknowledge the Traditional Custodians of Country throughout Australia where we operate our business. We recognise their connection to the land, water and culture and wish to pay our respects to their Elders past, present and emerging.