SMSF Trustee Duties - Your Life Savings are in Your Own Hands

Bring a fellow trustee for free!  And have your super fund cover the cost*

So you’re an SMSF Trustee (or Director of a Corporate Trustee).

You have legal obligations and key responsibilities in this role – and no one wants to pay extra tax, or administrative penalties or end up with a non-complying fund!

You have great advisors (especially if you’re with PKF, definitely in good hands!) – you don’t care to be an expert, that’s what you pay them for.  

And at the same time, you’re very aware that you have duties, but practically does that mean you sign the annual financials and tax return; maybe meet with your Financial Planner to review the results and strategy? 

Is there anything else you need to do?

What exactly are you accountable for?

How often are there changes that you might not be aware of?

Headlines like these can feel daunting:

“Check in-house assets before 30 June, SMSF Trustees Reminded (ensure they haven’t exceeded the 5% limit)”

and

“Nuances determine SMSF trustee breeches result in automatic disqualification”

and

“16.5k SMSFs face regulator scrutiny over valuations”

and sometimes might feel easier to stick your head in the sand and hope it’s not a problem.

Well, sometimes it’s not a problem until it’s a problem – and then it can be a big one!

Daniel Clements, Partner of the PKF Newcastle Self Managed Superannuation Fund (SMSF) Team, stands ready to answer an extensive list of questions ranging from basic responsibilities through to the more complex requirements that concern anyone who has an SMSF – so you can hear the answers and gain comfort from our expert.

And if our list isn’t exhaustive – you will enjoy a very safe space to ask the questions you may fear sound ‘silly’, or are things that you think you should already know.

* We realise that many SMSFs have more than one Trustee, often family members – we’d love you to bring along another one of the trustees in your SMSF for free!

Even better than that, Super Dan has confirmed that your Fund can absolutely cover the cost of attending – so you have two payment options, one to pay now yourself on credit card, or the other to request an invoice that we will issue in the name of your fund for payment ahead of the seminar.