SMSF Newsletter #3: Extended Travel plans as Co-trustees

December 19, 2022

Your Scenario:

You and your spouse are co-trustees for your SMSF since it was first set up. You have been thinking of an extended travel plan soon.


What happens to the day-to-day running of your SMSF


Ensure you have a corporate trustee in place.

Tax Tip:

As an Australian resident, if you remain overseas for an extended period of time, you may inadvertently become a non-tax resident. This in turn may alter the complying status of your SMSF.

It is easier to prove that the central management and control (‘CM&C’) of a corporate trustee remains in Australia, hence satisfying the tax residency of a SMSF using a corporate trustee in lieu of an individual trustee.

Common Traps:

To be an Australian complying SMSF, your SMSF either has no ‘active members’ or has at least 50% of either:

  • the total market value of the funds’ assets attributable to superannuation interests of active members; or
  • the sum of the amounts that would be payable to, or in respect of, active members if they voluntarily cease to be members

is held by active members who are Australian tax residents


GW Capital Group Pvt Ltd General Advice Warning: This advice may not be suitable to you because it contains general advice that has not been tailored to your personal circumstances. please seek personal advice prior to acting on this information.

By Admin

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