What is a Self Managed Superannuation Fund?
A Self Managed Super Fund (SMSF) is a special trust which is established under the legislation relating to Superannuation Funds—known as the Superannuation (Industry) Supervision Act 1993.
The fund can have up to a total of four members who also become the Trustees of the Fund and make decisions relating to the investments and other management aspects of the fund.
The rules governing SMSFs are very broad and just about anyone can set one up, including employees, self-employed people, a director of a private company, a non-working spouse, or someone with existing super assets or about to receive a retirement or redundancy package.
