What is a Self Managed Super Fund?

A Self Managed Super Fund, also commonly known as a DIY Super Fund, is a type of superannuation fund specifically designed for people seeking greater choice and control of their retirement savings.

It is intended primarily for family members or close business associates where a trust is created that holds assets on behalf of its members for use upon retirement.


DIY Super Fund’s key features are:

  • Has less than five members (you can have one member, provided the trustee is a company or two individual trustees)
  • Each individual trustee of the fund is a fund member and vice versa
  • No member of the fund is an employee of another member of the fund, unless those members are related
  • No trustee of the fund receives any remuneration for his or her services as a trustee

What is a Trustee?

Trustees are responsible for ensuring the fund is properly managed and that it complies with the Superannuation Industry (Supervision) Act 1993 and the Superannuation Industry (Supervision) Regulations 1994 and other legal obligations. Generally, all fund members must be appointed as trustees of the fund and anyone over the age of 18 can become a trustee (unless some prohibition applies).

What are the Trustees’ responsibilities?

  • Lodge an annual income tax return
  • Appoint an approved auditor to complete the annual audit
  • Maintain records for up to 10 years
  • Comply with investment restrictions
  • For further responsibilities contact our office or refer to the ATO website: www.ato.gov.au/superfunds/

What are the benefits of a DIY Super Fund?

  • The trustees can take an active role participating and determining where their fund money is invested.
  • Access to a broad range of investment alternatives such as direct shares (both Australian and international), residential and commercial property, managed funds, fixed interest investments and other assets.
  • The ability to directly reduce the amount of tax paid by the fund by investing in assets which pay franked dividends and offsetting the attached franking credits against the fund’s taxation liability.
  • The ability to run a pension within the same structure without affecting the investment mix and triggering capital gains tax.
  • Potentially lower fees than traditional funds by taking control of your own fund.