Selfwealth supports the following account types:
- Individual
- Joint
- Minor
- Company
- Trusts (Unregulated - e.g., Family Trusts, Discretionary and Testamentary trusts)
- Self Managed Super Funds (SMSFs)
Trust types
Unregulated Trusts
An unregulated trust simply means a trust not regulated by a government or regulatory body. They are typically family trusts or discretionary trusts
Regulated Trusts
A regulated trust is a trust that is subject to the regulatory oversight of an Australian regulator, such as a 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.