Trustees

The Trustees control the SMSF and make all the Investment decisions for the SMSF. When you establish a SMSF you have a choice of whether to appoint Individual Trustees or a Company Trustee to act for your SMSF. Each option is detailed below. It is important to understand that the SMSF Trustees do not own the Fund Assets but are simply responsible for administering/managing the SMSF in the member’s best interest.

Some of the responsibilities include:

• Maintaining all records of the SMSF (SUPERVISION SMSF maintain most records electronically)
• Establishing the SMSF Investment Strategy (A Standard Strategy is provided by SUPERVISION SMSF)
• Complying with all regulations under Super Laws (detailed in our Learn Section here)
• Lodging Tax and Regulatory Returns (attended to by SUPERVISION SMSF)

The ATO publication “Role and Responsibilities of Trustees” can be found here.