A lump sum paid from super will not necessarily be treated as a death benefit even if the relevant member passes away before the payment is made.

SMSFs with a corporate trustee in place can offer better protection of personal assets should the fund have legal action taken against it.

Having a corporate trustee is now the preferred operational structure for SMSFs at establishment and during the fund’s lifespan.

The directors of a corporate SMSF may find they have different time frames to apply for a director identification number dependent on when they first registered as a director.

Transaction narratives appearing on an SMSF bank statement have no relevance in determining which member account a withdrawal is applied against.