SMSF Trustee education is a good way for new Trustees to know more about SMSFs. It is not a requirement to undertake a Trustee education course, but it is advisable for Trustees to improve their knowledge before establishing an SMSF.
The ATO used to provide a free SMSF Trustee education program , however the program is no longer available. Alternatively, the ATO provides comprehensive guidelines about SMSFs below:
You can enroll in the Spring Financial Group’s Comprehensive SMSF Trustee Program for free and receive a certificate upon finishing the program. Easily sign up on their website using the button provided below:
To learn more about running a self-managed super fund (SMSF), it is a great idea to follow SMSF news and updates about regulations by reading our SMSF News articles.
Topics covered
For Trustees who want to learn key rules about investments, contributions, benefit payments and administration, these subjects to be explored in the above materials are as below:
- Trustee responsibilities
- Nature of an SMSF
- SMSF Investment restrictions
- SMSF Contributions
- Paying benefits and Conditions of Release
- SMSF administration and accounting
Objective of the SMSF Trustee Education Program
The aim of the Program is to educate SMSF Members in their responsibilities as Trustees. Trustees should be able to sign the SMSF Trustee Declaration form, confident that they have the competencies expected of them as Trustees. SMSF Trustees will be able to understand:
- Roles and responsibilities as a Trustee of an SMSF
- Limitations on investments imposed on an SMSF Trustee
- Contribution rules
- Benefit payment rules
- SMSF administration.
The knowledge gained from the suggested materials, combined with the information on the Superannuation Warehouse website, will enable Trustees to manage their Fund within the requirements of the ATO. If you have made the decision to start managing your own Super, you can go to our set up page here.
