Chapter 26
Ten Commandments of DIY Super
In This Chapter
Remembering you’re the boss, and responsible
Meeting the sole purpose test
Following your fund’s trust deed and the super rules
Drafting your fund’s investment strategy
Ensuring you don’t contravene super’s special investment rules
Lodging completed tax and compliance returns on time
W hen becoming a SMSF trustee, you must sign a SMSF trustee declaration stating that you’re responsible for ensuring your super fund complies with the super laws. If you became a SMSF trustee before July 2007, you don’t have to sign a trustee declaration, but you must comply with the same super rules as the newer trustees. Doing your job as SMSF trustee is all about steering your fund’s super CART — that is, looking after your fund’s Compliance, Administration, Reporting and Tax management responsibilities.
For the past decade, when presenting ...
Get DIY Super For Dummies, 3rd Australian Edition now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
