Technically Speaking: SMSFs and residency – the tests for remaining a complying superannuation fund

One of the requirements for an SMSF to qualify as a complying superannuation fund is to pass a residency test.

This edition of Technically Speaking, written by the Association’s Technical Manager, Mary Simmons, will cover the three tests that must be met:

Test 1: Fund Establishment Test

Test 2: Central Management and Control (CM&C)

Test 3: Active Member Test

This comprehensive technical paper will cover all three tests in more detail as well as delving into safeguarding residency of an SMSF and the consequences of failing the residency test.

The contents of this resource are taken to be correct at the time of publication.

Disclaimer: Technically Speaking bulletins contain general advice only and are prepared without taking in to account particular objectives, financial circumstances and needs. The information provided in this bulletin is not a substitute for legal, tax and financial product advice. Before making any decision based on this information, you should assess its relevance to the individual circumstances of your client. While the SMSF Association believes that the information provided in this bulletin is accurate, no warranty is given as to its accuracy and persons who rely on this information do so at their own risk. The information provided in this bulletin is not considered financial product advice for the purposes of the Corporations Act 2001. © SMSF Association