SelfWealth supports the following account types:
- Self Managed Super Funds (SMSFs)
Individual and Corporate Trustees
What is a Trustee?
A trustee is charged with the responsibility to act in accordance with a Trust Deed and in the best interests of the beneficiaries of the trust. A Trustee holds trust property on behalf of the beneficiaries of the Trust
Trusts are traded as separate entities for tax purposes.
What is an Individual Trustee?
Individual trustees are people who manage a trust without the structure of a company. Up to four individuals can be appointed as trustees of a self-managed super fund. Each trustee must play an active role in managing the trust and comply with their duties as a trustee.
What is a Corporate Trustee?
The company is a trustee and the members of the trust are the directors of the company. It is easier to add or remove a director with a corporate trustee.