SMSF Trustee Education

How much do you know about your responsibilities as trustee (or as director of a trustee) of a Super Fund?

The Institute of Chartered Accountants has released a very useful training tool for trustees of Self Managed Superannuation Funds: http://www.smsftrustee.com/

This program is designed in line with ATO expectations of trustees.

You can register and do the course on line at the website mentioned above. It will take you about an hour to do, and being fully automated, no-one assesses your results! It’s all about educating trustees. We recommend our clients visit this site and further their knowledge. Particularly in light of the Cooper Review recommendations, it will become increasingly important for trustees to know and be able to discharge their responsibilities.

Reading the materials contained in the program will give all trustees excellent information about:

• the investment restrictions imposed on trustees of a SMSF;
• the rules and limitations surrounding contributions and benefit payments within a SMSF; and
• administration involved with a SMSF.