Running your own SMSF requires you to become a trustee of the fund and be actively involved. In order for your SMSF to receive tax concessions as a super fund you will need to comply with certain duties and obligations.

These are set out in the super rules and legislation and trust deed of the fund. Learn about reporting obligations, administrative duties and responsibilities and what penalties maybe incurred for breaching the rules.

Before you begin...

Time to complete

1.5 hours

Assessment type

Five multiple choice questions

When you finish

2.25 AFA CPD Points

What you'll learn...

  • Outline the steps in establishing a self-managed super fund
  • Formulate an investment strategy for a self-managed super fund
  • Identify trustee administrative duties and responsibilities
  • Comply with annual reporting obligations
  • List the events which must be reported to the Tax Office
  • Describe the penalty regime that applies to a self-managed super fund