Book Description

There are more than 700,000 self managed superannuation trustees in 360,000 Australian funds with in excess of $300 billion under management. The Self Managed Superannuation Trustee's Handbook will assist trustees to understand their role and comply with their legal obligations. Covering topics such as fund compliance, trustee duties and powers, fund administration, contributions and benefits, investment of funds and the sole purpose test, The Self Managed Superannuation Trustee's Handbook is an essential education tool for both active and passive trustees. Self managed superannuation fund trustees are consistently being informed by the regulator (the ATO) that they must gain a proper understanding of their roles and responsibilities as trustees. When the ATO ran nationwide courses covering the basics they could not cope with the demand. Most SMSF trustees want to comply with the law and are willing to educate themselves to ensure that they do. Their problem has been that there are only a very limited number of professional advisers who understand all the relevant issues and accessing their services can be very expensive. Furthermore, trustees of SMSFs get frustrated by the continual contradictions in reports concerning their obligations contained in the financial press. As operators of SMSFs, they are large consumers of self-help materials regarding superannuation and related topics. SMSF trustees need one informed, authoritative book that sets out their roles and responsibilities in terms of the law, their relationship with the regulator and helps them to assess the truth or otherwise of statements they hear from other sources. The Self Managed Superannuation Trustee's Handbook provides all the information trustees require.