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In a Self Managed Superannuation Fund (SMSF) each member has to be a trustee or a director of a corporate trustee and each trustee or director of a corporate trustee a member. However, a SMSF cannot have only one trustee.

As a SMSF can have between one and four members, what are the options for setting up a single member SMSF?

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The options for setting up a single member SMSF are to have one of the following trustee structures:

  • a corporate trustee with the member as the sole director of the corporate.

  • a corporate trustee with the member being one of only two directors of the corporate, where the member is not an employee of the other director unless they are related.

  • two individual trustees, provided the member is one of the trustees and is not an employee of the other trustee unless they are related.

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