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SMSF DIY Guide: Everything you need to successfully set up and run your own Self Managed Superannuation Fund by Sam Henderson

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Chapter 4: Running a compliant fund

The United States prefers that Iraq meet its obligations voluntarily, yet we are prepared for the alternative.

George W. Bush, former president of the United States

How does George W. Bush’s comment relate to running an SMSF? It describes how the ATO thinks about SMSF trustees — and the tax office will certainly take action against you if you do not follow its rules in running your SMSF.

You would probably like to skip this chapter about what you should and shouldn’t do with your retirement savings — after all, it’s your money. But the reality is that it’s not your money yet. It’s not yours until you retire or meet another condition of release. That means this is probably the most important chapter of ...

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