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Self Managed Super Fund (SMSF) Article
How to set up an SMSF - Step 9
By Tony Negline.
This article may be out of date.
19th November 2010
The trustees must decide on the appointment of compulsory external service providers such as an approved auditor, tax agent and possibly even an actuary. Although these services could be provided by a member of the fund acting in their professional capacity, such an arrangement would need to be done for free.
The trustees may also decide to appoint the services of a professional fund administrator, accountant, investment adviser or investment manager(s).
The appointment of external service providers must be made in writing by the trustees.Whilst the trustees can engage other people to do certain acts or things on their behalf, the trustees are ultimately responsible and accountable for ensuring the fund is run in a prudent manner and administered correctly.
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