Do you have a Self-managed Superannuation Fund (SMSF)? Or are you thinking of setting one up? If either of these apply to you, you should read on to find out more about the common mistakes Trustees of self-managed superannuation funds make and how they can be avoided.
Loans to members
This is the most common breach reported by auditors to the
ATO each year.
Members (and their relatives) are prohibited from borrowing funds from their SMSF, including short term loans. Doing so will result in a breach of the Superannuation rules for which