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Changes of trustee - getting it right

Publication date: 26 Nov 13 | Source: AUSTRALIAN SUPERANNUATION LAW BULLETIN

Issue: Vol 25 No 4 Nov 2013

Pages: pp 70-71

Abstract:

Changing the trustee of a self managed superannuation fund (SMSF) is critically important. SMSF deeds differ significantly in how a change of trustee is to be implemented. A failure to comply with these requirements may mean that the trustee of an SMSF has not been validly changed. In this article, we examine a case in which a change of trustee was found to be ineffective and, as a result, the trustee office was determined to be vacant. We then outline some key considerations that arise with any change of trustee.

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Author profiles

Jared Lynch
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Bryce Figot CTA
Bryce is a Director at leading SMSF law firm DBA Lawyers. He practices predominantly in taxation and superannuation law, particularly the law of SMSFs. He is regularly quoted and published in the Australian Financial Review, the Herald Sun, CCH and LexisNexis publications, and elsewhere in the financial press. He presents extensively to accountants, financial planners and lawyers Australia-wide. Bryce has worked with DBA Lawyers since 2003. He holds both a bachelor degree and a masters degree in law and is an accredited Specialist SMSF Advisor. - Current at 10 December 2015
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