Course Content
SMSF Setup Course – FREE
Learn how to setup an SMSF
What is an SMSF
In this topic we'll discuss what a self managed super fund is and some basics about SMSFs.
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The Benefits and Risks of an SMSF
Learn about some of the benefits and risks of operating an SMSF.
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Trustee Options and Obligations
We will take a look at the types of SMSFs structures and trustee options, that you can choose from in this lesson
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Setting up an SMSF
Lets take a look at how you setup an SMSF
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Contribution Rules
What amounts and types of contributions can you make to an SMSF each financial year
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Sole Purpose Test
What is the 'Sole Purpose Test' and why is it so important that SMSF member, trustee understand this law ( rule)
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Investment in an SMSF and what can and cannot be done
Investing in a SMSF comes with rules and two sets of laws to abide by for SMSF member, trustees. The super laws and the tax laws. This lesson will deep dive into how to invest in certain assets and what restrictions apply
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SMSF Administration and Reporting Obligations
What Laws, rules apply to the ongoing management of SMSFs by the ATO and the super and tax laws that govern SMSFs. we will cover these points in this lesson
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SMSF benefit Payments
This topic will explore, super benefits or withdrawal conditions and the process that applies
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Winding up an SMSF
Lastly, lets take a look at how you exit or close an SMSF.
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SMSF TRUSTEE EDUCATION COURSE- FREE
About Lesson

Welcome to the My SMSF Trustee/Member Education Course!

This course will introduce you to Self-Managed Super Funds (SMSFs), helping you understand the benefits and risks of operating an SMSF. By the end of this course, you’ll be equipped with the knowledge to decide if an SMSF is the right choice for your financial future.


Introduction to SMSFs

An SMSF (Self-Managed Super Fund) is a private superannuation fund that you manage yourself. As an SMSF trustee and member, you have control over how your retirement savings are invested.


Quick Check: What does SMSF stand for?

a) Super Money Savings Fund
b) Self-Managed Savings Fund
c) Self-Managed Super Fund (Correct)
d) Special Managed Super Fund


SMSF Structure and Membership

  • Membership: SMSFs can have one to six members.
  • Trustees: All members must also be trustees (or directors if using a corporate trustee structure).

Two Main Structures:

Structure Details
Individual Trustee Requires at least two members/trustees
Corporate Trustee Can have one to six members/directors

 

Trustee Requirements

To be a trustee of an SMSF, you must:

  1. Be Legally Eligible:
    • 18 years or older
    • Mentally capable of making decisions
    • Not bankrupt
  2. Have a Clean Record:
    • No convictions for dishonesty
    • No violations of super, tax, or corporations laws
    • Not banned or disqualified by a court or regulator
  3. For Corporate Trustees:
    • Company must be solvent
    • Directors must have a clean ASIC record

Quick Check: Can a person under 18 be an SMSF trustee?

a) Yes
b) No (Correct)
c) Only with parental consent
d) Only if they’re the sole member


Types of Super Funds in Australia

Fund Type Description
Industry Super Funds Not-for-profit funds linked to specific industries, managed for the benefit of their members.
Retail Super Funds Managed by financial institutions, open to everyone with a variety of investment options.
Public Sector Funds Exclusively for government employees.
Small APRA Funds (SAFs) Similar to SMSFs but with a professional trustee regulated by APRA.

Additional Resources

 

 

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