A bill has been tabled in Parliament to increase the maximum number of members permitted within a self managed superannuation fund (SMSF) from four to six.
The bill also amends provisions within the Superannuation Industry Supervision (SIS) Act that relate to SMSFs and small APRA funds. These amendments are made to allow these provisions to align with the increased maximum number of members for SMSFs.
Australian Government, Treasury Laws Amendment (2019 Measures No. 1) Bill 2019, 13 February 2019