Increase in the number of SMSF members

Increase In The Number Of Smsf Members

 

On 1 July 2021, the maximum number of allowable members within an SMSF increased from four people to six people.

 

 

SMSFs are often used by families to jointly manage their superannuation savings and investment strategies, so this increase provides greater flexibility and choice between generations.

Whilst consolidating family members into one fund may reduce fees, it complicates the investment strategy and approach to risk, particularly where there is significant difference in member age and years to, or in retirement.

 

 

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First and foremost, we’re accountants. But we like to think of ourselves as a lot more. We work closely alongside business owners to bring more clarity, direction, and support, improving elements of your life beyond just the business. And, with our firm’s history in the Townsville area going back to the 1950s, we’re an established part of the local business community. We take that responsibility seriously.

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