SMSF Auditor Practice Test & Exam Prep | Australia

An SMSF has individual trustees. Which structure is generally required for the fund to remain an SMSF?

Only one member needs to be a trustee if a licensed trustee company is also appointed In a multi-member fund, any adult relative may be an extra trustee even if they are not a member Each member must also be a trustee of the fund (subject to limited legal personal representative exceptions) Trustees may be unrelated employees of the members' business only

Correct Answer:

Each member must also be a trustee of the fund (subject to limited legal personal representative exceptions)

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