Written by Mary Simmons, Head of Technical, SMSF Association
When establishing a Self-Managed Super Fund (SMSF), one of the first decisions trustees must make is to choose between an individual trustee or a corporate trustee structure. While both options are legally acceptable, there are many reasons why many opt for a corporate trustee.
Over the years, there has been a steady trend for newly registered SMSFs to be set up with a corporate trustee structure, as opposed to an individual trustee structure – 85% of SMSFs established in 2022/23 chose a corporate trustee with the trend expected to remain steady in 2023/24.
Under a corporate trustee structure each member of the SMSF must be a director of the corporate trustee.
For the 30% of the overall SMSF population still opting for an individual trustee structure, 2024/25 could be the year they consider switching to a corporate trustee.
Let’s explore why the benefits of a corporate trustee often outweigh some initial costs to set up a company and annual ASIC fees.
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