Self-Managed Super Funds
Individual Trustee vs. Corporate Trustee
Corporate Trustee
If a corporate trustee is selected, it is best to use a company that solely functions and operates as the trustee of the SMSF. This allows a clear distinction of fund assets to be maintained.
The main disadvantage of a corporate trustee is that it will add to the operational costs of an SMSF as expenses will include:
- Setting up a new company.
- Annual review fee payable to ASIC – this fee is lower if it is a special purpose proprietary company.
- Preparation of annual financial statements and minutes.
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