Super Fund Trustee Company
A super fund trustee company is a type of special purpose proprietary company that is only permitted to act as trustee of a self-managed superannuation fund and cannot trade in any form or to act as a trustee of any other trust. A super fund trustee company’s constitution must contain a clause prohibiting the company from distributing income or property to its members and limits its ability to act in any other capacity.
Super fund trustee companies are a type of special purpose company and subject to a reduced annual return fee of $53.
Implementation process:
- Incorporate the special purpose company with ASIC.
- Apply for ABN and TFN.
Similar posts you may like
- Income Tax General Anti Avoidance Rules
The general anti-avoidance rules contained in Part IVA of the Income Tax Assessment Act 1936 (Cth) (‘Part IVA’) may be applied by the Australian Read more
- Six Tax Planning Options
Accounting practices have six options available to them in relation to providing tax planning services. Some practices will choose one option (strategic pathway) and Read more
- How do we stop spending thousands on wasteful gifts each year?
Whether you love or hate Christmas shopping, most of us are obligated to spend thousands each year on what ultimately leads to billions of Read more
- The First Income Tax – Egyptian Pharaohs Tax (3000 BC)
The first income tax is generally attributed to Egypt where the Pharaoh’s collected taxes from their citizens to fund grain warehouses, building projects Read more
"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"
- Bono: U2