Are you new trustees to SMSF or looking to improve your knowledge as existing SMSF trustees? Australian Taxation Office lists a number of free online SMSF Trustee Education tool to assist the new trustees.
The trustees may access these courses either due to ATO direction or by trustee’s choice. ATO encourages SMSF trustees to take these courses to improve their understanding of the obligations of an SMSF trustee.
The online SMSF Trustees program is designed to educate trustees of SMSFs about their role and responsibilities.
At the completion of the program, trustees will be able to understand:
- Their roles and responsibilities within a SMSF
- Investment restrictions imposed on trustees of a SMSF
- Rules and limitations surrounding contributions and benefit payments within a SMSF
- Administration involved with a SMSF
The online SMSF Trustee Education Program takes between one and two hours to complete and consists of 7 topics covering the abovementioned topics.
After each topic, the trustees will be required to undertake 20 multiple-choice questions. The trustees are able to obtain a completion certificate if you get 14 or more correct for each topic.
New trustees of SMSF are highly recommend to undertake these free SMSF Trustee Education courses to ensure they are able to manage their fund within ATO requirements.
Disclaimer: This information should not be considered personal financial advice as it is intended to provide general advice only. This factsheet has been prepared by Superhelp Australia Pty Ltd without taking into account your personal objectives, financial situations or needs.
The information contained in the fact sheet may not be appropriate to your individual needs, therefore, you should seek personal financial advice before making any financial or investment decisions.