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Who can set up SMSF

All superannuation funds are required to appoint trustees. Therefore, to establish a self managed superfund, you must be eligible for appointment as a trustee because all members of the fund are required to be trustee. Trustees have the responsibilities for ensuring the fund is properly managed and in compliance with all legal obligations.

A person can be a trustee if that person is over the age of 18 and not a disqualified person. A disqualified person is one who:

The trustee of the superannuation fund holds the funds for the sole purpose of providing retirement benefits to the members of the fund. The trustee makes decisions for the self managed superfund.

Trustees of self managed superfund are required to make sure that: