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Single member SMSF

A self managed superannuation fund may have only one member if it satisfies certain basic conditions.

Under general trust law, an individual cannot be both the sole trustee and sole beneficiary of a trust as, in such a circumstance, the interests merge and there is no trust.

The Superannuation Industry (Supervision) Act address the concern by specifically providing that a self managed superannuation fund can have a single member if the member is one of two individual trustees or a director of the corporate trustee of the fund.

The most common arrangements are: