Easy To Follow Flowchart

The following diagram describes exactly how an SMSF works in practice. Please hover over the information symbols to see more information about that area.

Download the Flowchart PDF

This website and download sheet contains general information only. It does not take into account your objectives, financial situation or needs. Please consider the appropriateness of the information in light of your personal circumstances.

Easy to follow flowchart
Member trustee + non-member trustee OR Corporate trustee Sole member Director + (optional) non-member director


Member trustees 2 to 4 OR Corporate trustee Member directors 2 to 4


These services can be efficiently sourced through a professional SMSF Administrator.

(1 to 4 Members)

  • Trust deed
  • Investment strategy
  • Trustee responsibilities
  • Pensions
  • Reports and returns
  • Compliance
  • Different from SMSF trustees
  • Can be a Coporate trustee
  • Required for limited recourse borrowing
  • Holder of asset as a security for the borrowing
  • Rollovers
  • Contributions

Usually Cash Management Account/Trust

  • Pensions
  • Lump Sums
  • Insurance premiums
  • Fees and charges
  • Taxes
  • Separately Managed Account
  • WRAP
  • Other