New association launched for SMSF trustees
Nick Sherry
A new financial services industry association will be launched next week specifically aimed at representing those running a self-managed superannuation fund (SMSF).
The Minister for Superannuation and Corporate Law, Senator Nick Sherry, will next Tuesday attend the launch of the Self-Managed Superannuation Members Association (SMSA) in Sydney.
According to the chief executive of the SMSA, Peter Bishell, the association has a potential membership of up to 715,000, and the timing of its establishment could not have been better.
He said he had met with Senator Sherry in Canberra in February and it was clear the Federal Government was reviewing the operations of the SMSF sector and, in doing so, was looking for input from ordinary Australians who operate SMSFs.
The SMSA was registered as a company earlier this month and its constitution makes provision for directors from each state plus one from the ACT along with two SMSF professionals.
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