“Failing to plan is planning to fail”
General requirements to set up a Self-Managed Super Fund
A self- managed super fund (SMSF) can have one member or a maximum of four members. As a SMSF is a trust there must be a trustee. The trustee can be an individual or a company. There are heavy penalties for trustees who break the law whether or not intentionally, it is therefore preferable to have a company as your SMSF trustee. This will provide you with an extra layer of protection.