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  • Colonial L400 Non Super And External Trustees Form

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Application for Benefit Payment Issued by the Colonial Mutual Life Assurance Society Limited (CMLA) ABN 12 004 021 809 AFSL 235035, a wholly owned but non-guaranteed subsidiary of the Commonwealth.

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The main purpose of the Declaration is to ensure that new Trustees (or directors of a Corporate Trustee) understand their duties and responsibilities when running an SMSF. The Trustee Declaration form must be signed within 21 days of becoming a Trustee or director of a Corporate Trustee of an SMSF.

Member and trustee requirements Each member of the fund must be a trustee, and each trustee must be a member of the fund.

There are two SMSF trustee structures, one where the trustees work in their individual capacity and another where a company is appointed as the trustee. In both cases, it's the members who run the fund and as a general rule, all members are either trustees themselves or directors of the corporate trustee.

In a super fund, the board of trustees (or directors) is the trustee of the trust and holds legal title and ownership of the fund's assets on behalf of the members.

Anyone 18 years old or over can be a trustee or director of a super fund so long as they're not under a legal disability (such as mental incapacity) or a disqualified person. Members under 18 years old can't be a trustee or director.

In both cases, it's the members who run the fund and as a general rule, all members are either trustees themselves or directors of the corporate trustee. Also, it is only the members who run the SMSF and as such, all individual trustees or directors of the corporate trustee must generally be members of the fund.

All superannuation funds in Australia operate as trusts. The deed establishes the basis of calculating each member's entitlement. The trustee will usually retain discretion concerning such matters as the fund's investments and the selection of a death benefit beneficiary.

What is a Trustee? The Trustees control the SMSF and make all the Investment decisions for the SMSF. When you establish an SMSF you have a choice of whether to appoint Individual Trustees or a Company Trustee to act for your SMSF.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232