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  • Trust

    Trust

    • Acknowledgement of Trust (already own asset) - $165
    • Change Appointor and/or Guardian of Family Trust - $110
    • Change of Name of Family Trust - $88
    • Change Trustee of Family Trust - $110
    • Dealing with Forgiven Debts (White Paper) - $55
    • Debt Recognition (including pre-Div 7A Loans) - $33
    • Declaration of Trust (before you buy) - $99
    • Div 7A Loan Agreement - $65
    • Div 7A Loan Agreement for UPE - $55
    • Family Trust - $165
    • Family Trust - Streaming & Bamford Update - $165
    • Family Trust - Update to Allow Change of Appointor and Guardian - $165
    • Family Trust - Update to allow Sole Trustee - $55
    • Family Trust - Update to Exclude Foreign Persons (NSW) - $198
    • Family Trust - Wind up/Vesting - $259
    • Forgiveness of Debt - $121
    • Opening Minutes for the Unit Trust - $33
    • Partnership Deed - $220
    • Release of Unpaid Trust Entitlement - $121
    • The new small business restructure roll-over rules in practice (White Paper) - $55
    • Trust Distribution Minutes Library for 2008/09 - $99
    • Trust Distribution Minutes Library for 2009/10 - $99
    • Trust Distribution Minutes Library for 2010/11 - $99
    • Trust Distribution Minutes Library for 2011/12 - $99
    • Trust Distribution Minutes Library for 2012/13 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2012/13 - Single-Use - $110
    • Trust Distribution Minutes Library for 2013/14 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2013/14 - Single-Use - $110
    • Trust Distribution Minutes Library for 2014/15 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2014/15 - Single-Use - $110
    • Trust Distribution Minutes Library for 2015/16 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2015/16 - Single-Use - $110
    • Trust Distribution Minutes Library for 2016/17 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2016/17 - Single-Use - $110
    • Trust Distribution Minutes Library for 2017/18 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2017/18 - Single-Use - $110
    • Trust Distribution Minutes Library for 2018/19 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2018/19 - Single-Use - $110
    • Trust Distribution Minutes Library for 2019/20 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2019/20 - Single-Use - $121
    • Trust Distribution Minutes Library for 2020/21 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2020/21 - Single-Use - $121
    • Trust Distribution Minutes Library for 2021/22 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2021/22 - Single-Use - $121
    • Trust Distribution Minutes Library for 2022/23 - Multi-Use - $363
    • Trust Distribution Minutes Library for 2022/23 - Single-Use - $132
    • Unit Trust - $149
    • Unit Trust - Add New Member Kit - $110
  • Superannuation

    Superannuation

    • Acknowledgement of Trust (already own asset) - $165
    • Commercial Lease - $250
    • Declaration of Trust (before you buy) - $99
    • Derivative Risk Statement for SMSF - $65
    • Investment Strategy for Self Managed Super 15/16 - $65
    • Investment Strategy for Self Managed Super 16/17 - $65
    • Investment Strategy for Self Managed Super 17/18 - $65
    • Investment Strategy for Self Managed Super 18/19 - $65
    • Investment Strategy for Self Managed Super 19/20 - $65
    • Investment Strategy for Self Managed Super 20/21 - $65
    • Investment Strategy for Self Managed Super 21/22 - $65
    • Investment Strategy for Self Managed Super 22/23 - $65
    • Pension Pack for Self Managed Super - $299
    • Product Disclosure Statement (general) - $66
    • Product Disclosure Statement (Pension only) - $99
    • Self Managed Superannuation Fund Deed - $149
    • SMSF - Minute to Appoint Administrator - $33
    • SMSF - Minute to Appoint an Auditor - $33
    • SMSF - Minute to Approve Financial Statements - $33
    • SMSF - Minute to Approve Financial Statements 07/08 - $33
    • SMSF - Minute to Approve Financial Statements 08/09 - $33
    • SMSF - Minute to Approve Financial Statements 09/10 - $33
    • SMSF - Minute to Insure The Members - $33
    • SMSF - Update Rules - $165
    • SMSF Limited Recourse Borrowing Arrangement - $275
    • SMSF Restricted Commercial Property Assessment - $695
    • SMSF Restricted Residential Property Assessment - $315
    • Statutory Declaration - $0
  • Estate Planning

    Estate Planning

    • Buy Sell Agreement Company - $197
    • Codicil to change the Executor - $99
    • Confidentiality Agreement (Non Disclosure) - $99
    • Debt Recognition (including pre-Div 7A Loans) - $33
    • Enduring Power of Attorney - NSW - $55
    • Enduring Power of Attorney - SA - $55
    • Enduring Power of Attorney - WA - $55
    • Enduring Power of Attorney (Financial, Personal/Health) - QLD - $55
    • Enduring Power of Guardianship - NSW - $55
    • Enduring Power of Guardianship - WA - $55
    • Power Of Attorney By Company - $99
    • Will - Married or Defacto No Children - $95
    • Will - Married or Defacto with Children - $95
    • Will - Single No Children - $110
    • Will - Single With Children - $110
  • Commercial

    Commercial

    • Advanced Legal Health Check for Businesses - $18
    • Buy a House with Friends Agreement - $110
    • Commercial Lease - $250
    • Confidentiality Agreement (Non Disclosure) - $99
    • Co-Owners Agreement - $110
    • Dealing with Forgiven Debts (White Paper) - $55
    • Debt Recognition (including pre-Div 7A Loans) - $33
    • Debt Recovery Kit - Qld - $44
    • Declaration of Trust (before you buy) - $99
    • Demand and Statement of Claim for Debt - NSW - $88
    • Demand and Summons for Debt - VIC - $88
    • Demand and Summons for Debt - WA - $88
    • Div 7A Loan Agreement - $65
    • Div 7A Loan Agreement for UPE - $55
    • Forgiveness of Debt - $121
    • Loan Agreement (No Security) - $110
    • Release of Unpaid Trust Entitlement - $121
    • Statutory Declaration - $0
    • Terms of Trade (Non ROT) - $132
    • The new small business restructure roll-over rules in practice (White Paper) - $55
  • Employment

    Employment

    • Confidentiality Agreement (Non Disclosure) - $99
    • Employment - Conduct Issues Letter - $33
    • Employment - Employee Expenses Policy - $55
    • Employment - Performance Issues Letter - $33
    • Employment - Request for Medical Information - $33
    • Employment - Termination Letter - $33
    • Employment - Transferring Employee Letter - $33
    • Employment Contract - $99
    • Independent Contractors Agreement - $99
    • Partnership Deed - $220
    • Statutory Declaration - $0
  • Company

    Company

    • Acknowledgement of Trust (already own asset) - $165
    • Adopt Committee Recommendations kit - $33
    • Appoint a Committee kit - $33
    • Appoint an Alternate Director kit - $33
    • Appoint Managing Director & Confer Powers kit - $33
    • Buy a House with Friends Agreement - $110
    • Buy Sell Agreement Company - $197
    • Change Registered Office kit - $33
    • Commercial Lease - $250
    • Company (ELodgement) - $695
    • Company (No Elodgement) - $99
    • Company Constitution Update - $99
    • Confidentiality Agreement (Non Disclosure) - $99
    • Co-Owners Agreement - $110
    • Debt Recognition (including pre-Div 7A Loans) - $33
    • Declaration of Trust (before you buy) - $99
    • Demand and Statement of Claim for Debt - NSW - $88
    • Demand and Summons for Debt - VIC - $88
    • Demand and Summons for Debt - WA - $88
    • Director‘s Indemnity Agreement - Compulsory Insurance - $197
    • Director‘s Indemnity Agreement - No Insurance - $197
    • Directors Conflict of Interest Kit - $44
    • Div 7A Loan Agreement - $65
    • Div 7A Loan Agreement for UPE - $55
    • Employment Contract - $99
    • Family Trust - Wind up/Vesting - $259
    • Forgiveness of Debt - $121
    • Independent Contractors Agreement - $99
    • Loan Agreement (No Security) - $110
    • Minutes for Members to Inspect Books - $33
    • Minutes for Resigning Director - $33
    • Opening Minutes for the Unit Trust - $33
    • Partnership Deed - $220
    • Power Of Attorney By Company - $99
    • Release of Unpaid Trust Entitlement - $121
    • Remove a Managing Director kit - $33
    • Remove and Replace a Director kit - $44
    • Replace Company Secretary kit - $44
    • Self Managed Superannuation Fund Deed - $149
    • Statutory Declaration - $0
    • Terms of Trade (Non ROT) - $132
    • Transfer of Shares Kit - $0
    • Unit Trust - $149
    • Unit Trust - Add New Member Kit - $110
  • CPD Webinars

    CPD Webinars

    • CPD Webinar - Succession Planning for Family Trusts - $99
    • Webinar On Demand - Are Family Trusts Under Siege? - $99
    • Webinar on Demand - Basic Business Structures 101 - $99
    • Webinar On Demand - Employment Law Reform and How it Affects You - $99
    • Webinar On Demand - Financial Services Reform - Evolution or Revolution? - $99
    • Webinar On Demand - Is your client’s business facing the wall? - $99
    • Webinar On Demand - Lawyers or Accountants as Appointor of their Client’s Family Trust - Sailing into Troubled Waters - $99
    • Webinar On Demand - Maximising Superannuation Contributions - $99
    • Webinar On Demand - Moving to the Cloud - Workflow Heaven or Security Hell? - $99
    • Webinar On Demand - Rise of AI and the Legal Fallout - $99
    • Webinar On Demand - SMSF Strategies for Transitioning to Retirement - $99
    • Webinar on Demand - SMSFs and Cryptocurrencies - $99
    • Webinar on Demand - Trust Distributions and Section 100A - $99
    • Webinar on Demand - Understanding Testamentary Trusts - $99
  • All documents

    All documents

    • Acknowledgement of Trust (already own asset) - $165
    • Adopt Committee Recommendations kit - $33
    • Advanced Legal Health Check for Businesses - $18
    • Appoint a Committee kit - $33
    • Appoint an Alternate Director kit - $33
    • Appoint Managing Director & Confer Powers kit - $33
    • Buy a House with Friends Agreement - $110
    • Buy Sell Agreement Company - $197
    • Change Appointor and/or Guardian of Family Trust - $110
    • Change of Name of Family Trust - $88
    • Change Registered Office kit - $33
    • Change Trustee of Family Trust - $110
    • Codicil to change the Executor - $99
    • Commercial Lease - $250
    • Company (ELodgement) - $695
    • Company (No Elodgement) - $99
    • Company Constitution Update - $99
    • Confidentiality Agreement (Non Disclosure) - $99
    • Co-Owners Agreement - $110
    • CPD Webinar - Succession Planning for Family Trusts - $99
    • Dealing with Forgiven Debts (White Paper) - $55
    • Debt Recognition (including pre-Div 7A Loans) - $33
    • Debt Recovery Kit - Qld - $44
    • Declaration of Trust (before you buy) - $99
    • Demand and Statement of Claim for Debt - NSW - $88
    • Demand and Summons for Debt - VIC - $88
    • Demand and Summons for Debt - WA - $88
    • Derivative Risk Statement for SMSF - $65
    • Director‘s Indemnity Agreement - Compulsory Insurance - $197
    • Director‘s Indemnity Agreement - No Insurance - $197
    • Directors Conflict of Interest Kit - $44
    • Disclaimer - Email - $55
    • Div 7A Loan Agreement - $65
    • Div 7A Loan Agreement for UPE - $55
    • Employment - Conduct Issues Letter - $33
    • Employment - Employee Expenses Policy - $55
    • Employment - Performance Issues Letter - $33
    • Employment - Request for Medical Information - $33
    • Employment - Termination Letter - $33
    • Employment - Transferring Employee Letter - $33
    • Employment Contract - $99
    • Enduring Power of Attorney - NSW - $55
    • Enduring Power of Attorney - SA - $55
    • Enduring Power of Attorney - WA - $55
    • Enduring Power of Attorney (Financial, Personal/Health) - QLD - $55
    • Enduring Power of Guardianship - NSW - $55
    • Enduring Power of Guardianship - WA - $55
    • Family Trust - $165
    • Family Trust - Streaming & Bamford Update - $165
    • Family Trust - Update to Allow Change of Appointor and Guardian - $165
    • Family Trust - Update to allow Sole Trustee - $55
    • Family Trust - Update to Exclude Foreign Persons (NSW) - $198
    • Family Trust - Wind up/Vesting - $259
    • Forgiveness of Debt - $121
    • Independent Contractors Agreement - $99
    • Investment Strategy for Self Managed Super 15/16 - $65
    • Investment Strategy for Self Managed Super 16/17 - $65
    • Investment Strategy for Self Managed Super 17/18 - $65
    • Investment Strategy for Self Managed Super 18/19 - $65
    • Investment Strategy for Self Managed Super 19/20 - $65
    • Investment Strategy for Self Managed Super 20/21 - $65
    • Investment Strategy for Self Managed Super 21/22 - $65
    • Investment Strategy for Self Managed Super 22/23 - $65
    • Loan Agreement (No Security) - $110
    • Minutes for Members to Inspect Books - $33
    • Minutes for Resigning Director - $33
    • Opening Minutes for the Unit Trust - $33
    • Partnership Deed - $220
    • Pension Pack for Self Managed Super - $299
    • Power Of Attorney By Company - $99
    • Product Disclosure Statement (general) - $66
    • Product Disclosure Statement (Pension only) - $99
    • Release of Unpaid Trust Entitlement - $121
    • Remove a Managing Director kit - $33
    • Remove and Replace a Director kit - $44
    • Replace Company Secretary kit - $44
    • Self Managed Superannuation Fund Deed - $149
    • SMSF - Minute to Appoint Administrator - $33
    • SMSF - Minute to Appoint an Auditor - $33
    • SMSF - Minute to Approve Financial Statements - $33
    • SMSF - Minute to Approve Financial Statements 07/08 - $33
    • SMSF - Minute to Approve Financial Statements 08/09 - $33
    • SMSF - Minute to Approve Financial Statements 09/10 - $33
    • SMSF - Minute to Insure The Members - $33
    • SMSF - Update Rules - $165
    • SMSF Limited Recourse Borrowing Arrangement - $275
    • SMSF Restricted Commercial Property Assessment - $695
    • SMSF Restricted Residential Property Assessment - $315
    • SMSF Subscription - $99
    • Statutory Declaration - $0
    • Terms of Trade (Non ROT) - $132
    • The new small business restructure roll-over rules in practice (White Paper) - $55
    • Transfer of Shares Kit - $0
    • Trust Distribution Minutes Library for 2008/09 - $99
    • Trust Distribution Minutes Library for 2009/10 - $99
    • Trust Distribution Minutes Library for 2010/11 - $99
    • Trust Distribution Minutes Library for 2011/12 - $99
    • Trust Distribution Minutes Library for 2012/13 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2012/13 - Single-Use - $110
    • Trust Distribution Minutes Library for 2013/14 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2013/14 - Single-Use - $110
    • Trust Distribution Minutes Library for 2014/15 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2014/15 - Single-Use - $110
    • Trust Distribution Minutes Library for 2015/16 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2015/16 - Single-Use - $110
    • Trust Distribution Minutes Library for 2016/17 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2016/17 - Single-Use - $110
    • Trust Distribution Minutes Library for 2017/18 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2017/18 - Single-Use - $110
    • Trust Distribution Minutes Library for 2018/19 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2018/19 - Single-Use - $110
    • Trust Distribution Minutes Library for 2019/20 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2019/20 - Single-Use - $121
    • Trust Distribution Minutes Library for 2020/21 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2020/21 - Single-Use - $121
    • Trust Distribution Minutes Library for 2021/22 - Multi-Use - $350
    • Trust Distribution Minutes Library for 2021/22 - Single-Use - $121
    • Trust Distribution Minutes Library for 2022/23 - Multi-Use - $363
    • Trust Distribution Minutes Library for 2022/23 - Single-Use - $132
    • Unit Trust - $149
    • Unit Trust - Add New Member Kit - $110
    • Webinar On Demand - Are Family Trusts Under Siege? - $99
    • Webinar on Demand - Basic Business Structures 101 - $99
    • Webinar On Demand - Employment Law Reform and How it Affects You - $99
    • Webinar On Demand - Financial Services Reform - Evolution or Revolution? - $99
    • Webinar On Demand - Is your client’s business facing the wall? - $99
    • Webinar On Demand - Lawyers or Accountants as Appointor of their Client’s Family Trust - Sailing into Troubled Waters - $99
    • Webinar On Demand - Maximising Superannuation Contributions - $99
    • Webinar On Demand - Moving to the Cloud - Workflow Heaven or Security Hell? - $99
    • Webinar On Demand - Rise of AI and the Legal Fallout - $99
    • Webinar On Demand - SMSF Strategies for Transitioning to Retirement - $99
    • Webinar on Demand - SMSFs and Cryptocurrencies - $99
    • Webinar on Demand - Trust Distributions and Section 100A - $99
    • Webinar on Demand - Understanding Testamentary Trusts - $99
    • Website Terms And Conditions - $99
    • Will - Married or Defacto No Children - $95
    • Will - Married or Defacto with Children - $95
    • Will - Single No Children - $110
    • Will - Single With Children - $110
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SMSF - Minute to Approve Financial Statements 09/10

SMSF - Minute to Approve Financial Statements 09/10

Price ($AUD): $33
Platinum Price ($AUD): $22 [?]

Estimated Time to Build: 2 - 3 Minutes
Jurisdiction: Australia Wide

 
  • Overview
  • Checklist
  • Sample
  • Legal Tutor
  • Author
  • Why do I need these Minutes?
    It is Best Practice to have your financials formally approved by the Trustees. These Minutes achieve that. They are in line with the Australian Tax Office’s desire for proper compliance. When everything is done correctly the ATO is more likely to leave you alone.

    What is a Self Managed Superannuation Fund?
    A SMSF is a Self Managed Superannuation Fund. This is a Superannuation Fund that you operate and run by yourself. A SMSF has 1 to 4 members. All of the members are trustees of the fund. Even though you run your SMSF yourself, you need your Accountant, Auditor and Adviser to help you.

    WARNING:
    If you fail to keep a record of Minutes the Tax Office may state your Superannuation Fund is non-complying. A non compliant fund is not entitled to any tax concessions and is taxed at the highest marginal tax rate.

    These minutes are fully compliant with 1 July 2007 Commonwealth legislation being the "Plan to Simplify and Streamline Superannuation".
  • Checklist is not available for this document.

  • Sample is not available for this document.

    • Fund Name
      • The Name of your SMSF
      • What is the purpose of this Minute?
      • What will I get after I purchase this Minute?
      • What happens after these Minute are completed?
      • I have 20 Super Funds, can I just buy 1 Minute?
      • Who is allowed to prepare these Minutes?
      • What is the value of these Minutes?
      Trustee Type
      • Why do you want to know this?
      Company Trustee
      • What is an ACN?
      • What if I don't know the company ACN?
      • Who are the directors of the company?
      • What if I have less or more than 4 directors?
      Human Trustee
      • What if I have more than 4 trustees?
      • What is the minimum number of trustees?
      Income Year Details
      • What is an income year?
      Meeting Place
      • What is a meeting address?
      • Does the meeting need to take place anywhere in particular?

      Fund Name

      • The Name of your SMSF

        Please put down the name of your Self Managed Super Fund.

        For example:

        George Smith Superannuation Fund

        This hint is provided by Law Central Legal.


        #

      • What is the purpose of this Minute?

        The purpose of this Minute is to formally approve the financial statements and annual return.

        This is Best Practice. It lets the Australian Taxation Office know that you are doing everything correctly - to the letter.

        This hint is provided by Law Central Legal.


        #

      • What will I get after I purchase this Minute?

        You receive the formal Minutes to approve the financial statements and annual return.

        All you then do is get the Trustees to sign the Minute and put the Minutes in your file.

        This hint is provided by Law Central Legal.


        #

      • What happens after these Minute are completed?

        After you build these Minutes:

        1) The trustee signs the financial statements and accounts. Then sign the Minutes.

        2) Complete the ATO’s "Fund Income Tax and Regulatory Form". (After you purchase this Minute we give you the link to this document at the ATO's website.)

        3) Send this completed "Fund Income Tax" form to the Australian Tax Office by the due date.

        4) Keep a record of all financial statements, accounts and minutes for 10 years in your minute book.

        This hint is provided by Law Central Legal.


        #

      • I have 20 Super Funds, can I just buy 1 Minute?

        LawCentral is not a law firm. All documents at LawCentral belong to the relevant Australian lawyers.

        You are paying money to purchase one minute for only one Super Fund. That money includes the cost of the insurance taken out by the law firm. Sure, you could get your secretary to retype this Minute and change the names but then two things are at risk:

        Firstly, you lose the protection afforded by the lawyer's insurance. That PI (Professional Indemnity) insurance is valuable protection.

        Secondly, if discovered, the lawyer will publicly sue your business for the theft of the intellectual property to the fullest extent possible under the law. If you are a law firm, accounting house, financial planner or licensed under ASIC then you risk losing your licence and reputation because of the theft.

        Think about it. The whole reason of purchasing this Minute is to protect yourself and the Self Managed Superannuation Fund.

        For a few dollars is it worth the risk? Just generate a new Minute for each meeting or Superannuation Fund.

        Alternatively, if you are doing more than 20 of them contact us and we can arrange a discount for a bulk purchase. That way you are properly and fully protected.

        This hint is provided by Law Central Legal.


        #

      • Who is allowed to prepare these Minutes?

        Anyone is allowed to prepare these Minutes.

        However, the trustees of the superannuation fund approve the Minutes.

        This hint is provided by Law Central Legal.


        #

      • What is the value of these Minutes?

        Minute to Approve the Financial Statements and Accounts


        The purpose of this Minute is to formally approve the financial statements and annual return.

        This Minute has been carefully drafted to comply with Best Practice. Best Practice requires that the superannuation fund exceed all the regulations and laws applicable to superannuation funds. Using Best Practice ensures the best interests of members are always considered paramount.

        The Minute accords with all Self Managed Fund Investment Strategies and Trust Deeds.

        The trustees must keep a record of all minutes which affect the entity for 10 years, pursuant to Section 103 Superannuation Industry Supervision Act 1993. This Minute meets the requirements of Section 103.

        The Australian Tax Office is continually monitoring self managed superannuation funds for compliance. Using this Minute lets the Australian Taxation Office know that you are doing everything correctly - to the letter.

        This hint is provided by Law Central Legal.


        #

      Trustee Type

      • Why do you want to know this?

        You can have your company as Trustee of your Self Managed Superannuation Fund. Or, you may have kept it simple and just had all the members as the Trustees.

        It makes no difference to main part of the Minutes.

        Just let us know by answering the question:

        "yes" I have a company
        "no" just us members (humans) are the trustees

        This hint is provided by Law Central Legal.


        #

      Company Trustee

      • What is an ACN?

        An ACN is an "Australian Company Number" this is a special unique number identifying the company.

        This hint is provided by Law Central Legal.


        #

      • What if I don't know the company ACN?

        You can do a free simple search at www.asic.gov.au by typing your company name.

        This hint is provided by Law Central Legal.


        #

      • Who are the directors of the company?

        The Directors of the Trustee Company are usually the members of the self managed super fund.

        Only in special situations are the directors and members different. For example, sole member funds and members who are minors have different trustees and members.

        The number of Directors is limited to a maxmimum of 4 people.

        This hint is provided by Law Central Legal.


        #

      • What if I have less or more than 4 directors?

        If you have less than 4 directors just leave the other sections blank.

        If you have more than 4 directors then you are not a self managed superannuation fund.

        Different regulatory requirements apply to other funds. This minute is only suited to Self Managed Superannuation Funds.

        This hint is provided by Law Central Legal.


        #

      Human Trustee

      • What if I have more than 4 trustees?

        If you have more than 4 trustees then you are not a self managed superannuation fund. Different rules apply to other funds. This Minute is only suited to self managed superannuation funds.

        This hint is provided by Law Central Legal.


        #

      • What is the minimum number of trustees?

        You must have at least 2 trustees to oversee your SMSF.

        What if my fund is a single member fund?

        You still must have at least 2 trustees. One of the trustees is you. The other trustee must either be your relative OR the other trustee must not be your employer. (Or you can opt for a company to be your trustee.)

        This hint is provided by Law Central Legal.


        #

      Income Year Details

      • What is an income year?

        An income year starts on the 1st day of July of one year and ends the 30th of June the next year.

        This hint is provided by Law Central Legal.


        #

      Meeting Place

      • What is a meeting address?

        The meeting address is the actual address of where the trustees or directors meet to discuss the resolutions.

        It can be your office, your home or a public place.

        This hint is provided by Law Central Legal.


        #

      • Does the meeting need to take place anywhere in particular?

        The meeting may be held in any location.

        This hint is provided by Law Central Legal.


        #

  • This document has been prepared by the law practice Law Central Legal

    Law Central Legal

    Liability limited by a scheme approved under Professional Standards Legislation

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