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SMSF Updates

ATO has made changes to Trustee declaration (NAT 71089) and Self-managed super funds – key messages for trustees (NAT 71128).
19 Dec, 2012

As a result of ATO review, changes have been made to both documents.
The most notable changes to the 2012 version of the Trustee declaration are the following inclusions:

  • requirement that the investment strategy be regularly reviewed
  • consideration of whether the fund should hold insurance cover for members
  • declaration that trustees of SMSFs are aware that they do not have access to the government’s financial assistance program in case of financial loss due to fraudulent conduct or theft.

In Self-managed super funds – key messages for trustees, we have provided information for trustees about the protection of super in SMSFs.

All new trustees (and directors of corporate trustees) of SMSFs must complete and sign the Trustee declaration to show they understand the trustee duties and responsibilities under super law.

To download the new copy of the ATO Trustee Declaration, please click:

ATO Trustee Declaration

To download the new copy of Self-managed super funds – key messages for trustees, please click:

Self-managed super funds – key messages for trustees

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