A related party of an SMSF includes:

  • The members of the SMSF
  • The relatives of each member
  • The business partners of each member
  • Any spouse or child of those business partners
  • Any company the member or their associates control or influence
  • Any trust the member or their associates’ control
  • A 'standard' employer sponsor of a member (where the employer is name in the SMSF deed)

SMSF related party diagram

Who is a related party of an SMSF?

Click to enlarge

Who is a Part 8 Associate of an Individual?

Each of the following is a Part 8 associate of an individual member or trustee of an SMSF (the “primary entity”), whether or not the primary entity is in the capacity of trustee (s 70B):

  1. A relative of the individual including: Spouse, Parents and grandparents (and their spouses), Siblings (and their spouses), Uncles and aunts (and their spouses), Nephews and nieces (and their spouses), Lineal descendants – children natural or adopted (and their spouses)
  2. Other members of the SMSF
  3. Other trustees of the SMSF (where there are individual trustees)
  4. Other directors of the trustee company (where the SMSF trustee is a company)
  5. A partner of the primary entity or a partnership in which the primary entity is a partner
  6. If a partner of the primary entity is an individual — the spouse or a child of that individual
  7. A trustee of a trust (in the capacity of trustee of that trust) where the primary entity controls the trust
  8. A company that is sufficiently influenced by, or in which a majority voting interest is held by: the primary entity another entity that is a Part 8 associate of the primary entity, or two or more entities covered by the primary entity or a Part 8 associate of the primary entity

If you have any doubts in regards to a particular person, entity or other party is a related party of the SMSF, please contact Intello.

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