Individual vs corporate trustee

Individual trustees

All members of the fund are generally required to be trustees, and each trustee is a member - subject to limited exceptions the ATO documents. Asset titling usually lists all individuals as trustees for the fund. When membership changes, trustee appointments and asset ownership updates can require more paperwork.

Corporate trustee

A company acts as trustee; directors are ordinarily fund members. ASIC registration, director IDs, and company secretarial tasks add cost, but asset ownership and succession can be simpler when members change because the trustee entity persists.

What to discuss with your adviser

• Up-front and ongoing ASIC fees vs simplicity of individual trustees.
• Estate planning and control if a trustee loses capacity or dies.
• Property or borrowing structures that favour a corporate trustee.
• Your accountant’s preferences for administration and minutes.

Official references

• ATO: Choose individual trustees or a corporate trustee
• ASIC: Registering a company
• ASIC: Director identification number
• SMSF setup overview