You can download this publication in Portable Document Format (PDF) - download How your self-managed super fund is regulated (NAT 71454, PDF, 306KB)
Commissioner's foreword
Australia's superannuation system is designed to help and encourage people to achieve a higher standard of living in retirement than would be possible from the age pension alone.
Safeguarding retirement income should be a shared objective for everyone in the super industry including trustees, auditors, professional and industry bodies, as well as government agencies such as the Australian Taxation Office (ATO), the Australian Prudential Regulation Authority (APRA), the Australian Securities & Investments Commission (ASIC) and the Department of Human Services (DHS).
Self-managed super funds (SMSFs) are playing an increasingly important role in the super system. As the regulator, we are responsible for ensuring that SMSFs maintain a high level of compliance with super and tax laws.
The rules contained in the super legislation ensure that a trustee's desire for flexibility and control over the management of their SMSF is matched with a strong commitment to protecting their fund's asset base, so it is able to provide members with greater financial security in retirement.
In this booklet we outline how SMSFs are regulated and the role that we and other government agencies have. We also explain the roles of auditors and other super professionals as well as the role of a trustee. We do this to emphasise that ensuring the integrity of the super system is a shared responsibility.
Super is one of Australia's greatest success stories, and SMSFs play a big part in that story.
Chris Jordan
Commissioner of Taxation
Finding the right information
Setting up a self-managed super fund (NAT 71923) - provides basic information about how to set up an SMSF.
Running a self-managed super fund (NAT 11032) - highlights your responsibilities and obligations as a trustee when operating an SMSF.
Paying benefits from a self-managed super fund (NAT 74124) - is designed to assist trustees who are required to make payments out of an SMSF.
Winding up a self-managed super fund (NAT 8107) - details the process you need to follow to wind up an SMSF.
Last Modified: Tuesday, 7 May 2013