Before setting up an SMSF:
⦁ You will need to choose to have either up to 4 trustees in your fund or appoint a corporate trustee. These two structures differ in a few ways so please consult one of our accountants to make sure you are choosing an appropriate option for your situation.
⦁ Your fund should be always an Australian Superannuation Fund to make sure it is compliant and to avoid assets and income being taxed at the highest marginal tax rate.
⦁ You will need to prepare an exit strategy for when your fund ends or winds up.