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Self-managed superannuation funds

Last updated 12 February 2019

Superannuation funds that are self-managed superannuation funds (SMSFs) under the Superannuation Industry (Supervision) Act 1993 (SISA) at any time during 2013–14 must use the Self-managed superannuation fund annual return 2014 to lodge information relating to income tax, regulatory and member contribution details. This includes an SMSF that was non-complying in 2013–14 or that was established or wound up during 2013–14.

Generally a superannuation fund with more than one member is an SMSF if:

  • the fund has two to four members
  • no member of the fund is an employee of another member of the fund unless they are related
  • each member of the fund is a trustee and each trustee is a member of the fund, and
  • no trustee of the fund receives any remuneration for their services as a trustee of the fund.

Alternatively, an SMSF with more than one member can have a company as a trustee (known as a corporate trustee) if:

  • the fund has two to four members
  • each member of the fund is a director of the company and each director of the company is a member of the fund
  • no member of the fund is an employee of another member of the fund unless they are related
  • the company does not receive any remuneration for its services as a trustee, and
  • no director of the company receives any remuneration for their services as a director of that company.

A superannuation fund with only one member is an SMSF if:

  • the member of the fund is a trustee and there is a second trustee who is either a relative of the member or is not the member's employer or
  • a company is the trustee of the fund and the member is the sole director of the company or there is a second director of the company and that other director is a relative of the member or is not the member's employer and
  • no remuneration is received by a trustee or director for their services to the fund.

QC40267