Single Member SMSFs
A self-managed superannuation fund may have only one member if it satisfies certain basic conditions.
An individual cannot be both the sole trustee and sole beneficiary of a trust as the interests merge and there is no trust.
The SIS Act addresses this by allowing an SMSF to have a single member if the member is one of two individual trustees or a director of a company (corporate) trustee of the fund.
The most common arrangements are: