Tax with Max: How to set up a company trustee

Evaluating the process of setting up a company trustee for your SMSF and reducing fees payable on name changes.

Summary: The work involved in switching from individual trustees to a company trustee is the same work required if an individual trustee dies, without the other stresses associated with someone dying. An SMSF’s trust deed will dictate the procedures required to change a trustee.

Key take-out: When appointing a new trustee, changing the name of all investments and bank accounts can reduce future complications and is best practice, but  is not required by legislation.

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