Responsibilities for SMSF Trustees

Posted on Aug 14, 2012 | 0 comments

Measures introduced on 7 August 2012 are part of the suite of measures announced within Stronger Super.

This mean that you, as trustee of an SMSF, are:

  • Required to conduct a review of the fund’s investment strategy on a regular basis
  • Required to consider insurance for fund members as part of the fund’s investment strategy
  • Required to value the fund’s assets at market value for the purposes of preparing financial accounts and statements as at 30 June 2013

Penalties may now apply if a trustee doesn’t keep money and other assets of the fund separate from any money or assets held by the trustee personally or by a standard employer-sponsor or an associated standard employer-sponsor.

If you require any more information on Self Managed Superannuation Funds please contact Joe on 5588555 or email joe@jwa.com.au

 

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