Increasing SMSF members from four to six gets green light

SMSF Association Media Release I 03 September

The SMSF Association welcomes the introduction of a Bill into Parliament that will increase the maximum number of allowable members in a self-managed superannuation fund (SMSF) from four to six. 

First announced in the 2018-19 Federal Budget, the increased maximum will help larger families to include all their family members in their SMSF.

SMSF Association CEO John Maroney says: “Although the number of funds that take advantage of this policy change may be small, the increased maximum has our support because it brings greater flexibility and choice to the SMSF sector.”

Full article from SMSF Association here