Ownership of SMSF Assets
All the SMSF assets need to be kept separately from trustees’ personal assets and named properly in the correct format to avoid any compliance issues.
For example, James and Mary Jones has set up an SMSF with individual trustees. The standard names are acceptable for audit purpose and commonly used for the bank accounts and SMSF investments:
Mr James and Mrs Mary Jones as trustee for Jones Super Fund
Mr James and Mrs Mary Jones ATF Jones Super Fund
The Trustee for Jones Super Fund
Jones Super Fund
If they have chosen to use a corporate trustee called Jones & Mary Pty Ltd. The following names can be used for all the SMSF investments:
Jones & Mary Pty Ltd as trustee for Jones Super Fund
Jones & Mary Pty Ltd ATF Jones Super Fund
The Trustee for Jones Super Fund
Jones Super Fund
What name will be on the land title certificate for properties held in the SMSF?
The Land Title Office in some states and territories, such as Victoria, would not allow SMSF name on the certificate of the land tile, then the following names should be used:
- James and Mary has bought the property without borrowing:
- Mr James and Mrs Mary Jones can be on the certificate of land tile for SMSF with individual trustees
- Jones & Mary Pty Ltd if SMSF has a corporate trustee.
- James and Mary has bought the property with borrowing (LRBA) and setup a bare trust corporate trustee called Jones & Mary Investment Pty Ltd :
- Jones & Mary Investment Pty Ltd needs be on the certificate of land tile not the trustees of the SMSF.
Can I use Declaration of Trust if certain assets can not be in the name of the SMSF?
Yes, you can. Some crypto currency exchanges and wallet will not allow you to use the SMSF to open the investment account and you can use the declaration trust to declare the account is in the name of the SMSF.
What name to use if I invest overseas that do not allow you to use the SMSF name as the owner of the assets?
It really depends on the rules in different countries. Please contact us to confirm what name to be used if you intent to purchase any assets, such as properties, shares etc in other countries.