ARTICLE · 20 JULY 2016

SMSF by the trust deed

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The terms of a SMSF trust deed must be reviewed for estate planning, and before any act is done concerning the fund.

AustraliaFinance and Banking

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There were 566,735 self-managed super funds (SMSF) and 1,075,267 SMSF members as at December 2015 according to the Australian Taxation Office. A great example of the importance of the SMSF deed can be found in the case of Moss Super Pty Ltd & Anor v Hayne & Anor [2008] VSC 158.

The Key Facts

The Photography Management Services Pty Ltd Superannuation Fund (Fund) was created by a deed dated 31 May 1985 (Deed) by Photography Management Services Pty Ltd (Founder).
The Founder was also the trustee of the Fund.
Hayne and Moss were the directors of the Founder.
Hayne and Moss were the only members of the Fund.
Hayne and Moss were domestic partners.
Under the terms of the Deed, the Founder was obliged to appoint a new trustee if the office of trustee became vacant.

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