Self-managed super fund (SMSF)¶

Definition. A self-managed super fund (SMSF) is a super fund you run yourself for a small number of members, where the members are usually the trustees who are responsible for running the fund and following the rules, and which is regulated by the ATO.

In plain English¶

An SMSF is a super fund that you and up to a few other people set up and manage on your own. The ATO explains that the members are normally the trustees, so they are responsible for running the fund and making sure it follows the super and tax laws. The ATO regulates SMSFs, and trustees can face penalties if the fund does not comply.

Related lessons¶

• Self-managed super funds (SMSFs)

General information only — not tax, super or financial advice.