SMSF structures:
Individual vs Corporate trustee
When setting up a self-managed super fund, your first decision is to choose between an individual trustee structure or a corporate trustee structure. Both have their own perks and drawbacks, so the decision comes down to what works best for you.
| Individual Trustee | Corporate Trustee | |
|---|---|---|
| SMSF Setup costs | $550 | $990 |
| Ongoing costs of Trustee (ASIC annual review fee) | $0 | $56 |
| One member only in the SMSF |  |
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| Two members in the SMSF | |
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| Suitable for setup with 3 to 6 members | |
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| Quick SMSF setup process | |
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| Suitable for basic investments (cash, shares, managed funds) | |
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| Suitable for investment property purchase | |
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| Suitable for SMSF borrowing | |
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| Investments stay in the same name when members are changed | |
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| Easy to add/remove members | |
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| Liability protection for trustees | |
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| Ensures clean separation of assets between the SMSF and members | |
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| ATO administrative penalties if incurred – who is liable to pay | Each Trustee | Single Penalty |