All Topics / Help Needed! / Trustee company

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  • Profile photo of alto55alto55
    Participant
    @alto55
    Join Date: 2006
    Post Count: 23
    March 4, 2007 - 8:45 am

    Can anyone answer this question:

    Can a company be trustee for two different trusts? One is a self managed superfund and the other is a hybrid trust?

    Thanks

    Profile photo of Paul DobsonPaul Dobson
    Participant
    @pauldobson
    Join Date: 2003
    Post Count: 1,196
    March 4, 2007 - 1:17 pm

    Hi alto

    Yes a company can be a trustee of two different trusts, i.e. your SMSF and your HDT.

    In relation to a company being a trustee of your SMSF the ATO says:

    “A self managed superannuation fund can have a company as a trustee (known as a corporate trustee) if:

    The fund has four or fewer members.
    Each member of the fund is a director of the company.
    No member is an employee of another member, unless they are related, and
    the corporate trustee does not receive any remuneration for its services as a trustee.”

    Cheers, Paul

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    Profile photo of alto55alto55
    Participant
    @alto55
    Join Date: 2006
    Post Count: 23
    March 4, 2007 - 2:57 pm

    Thanks, I was not sure if there is a restriction or conflict of interest.

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