Why your SMSF’s ‘rule book’ may be broken (and how to fix it)
by Hugo Furzer
As you probably know, every SMSF must have a corresponding Trust Deed. Think of it as the rule book every Trustee and Members of the SMSF must follow. And the rules cover pretty much every aspect of the SMSF’s operation, including such things as:
- the powers and limitations of what the Trustee can do with SMSF assets
- when and how members must apply to access their benefits
- how members can contribute to the fund
- how death benefit nominations are put in place.