What is a Self-Managed Super Fund used for? A Self-Managed Superannuation Fund (SMSF) is the same as a public offer or industry superannuation fund in that its purpose is to financially provide for the retirement of its members. However, an SMSF … Continued
A hybrid unit trust is used when the persons to benefit from the trust include unitholders and/or legal entities which do not hold units (the beneficiaries).
A class unit trust is used when the rights between the unit holders are required to be different. The rights of a unit holder are primarily the right to vote, to receive income, to have their capital returned and/or to participate in the capital growth of the trust.
A unit trust is similar to a company, in that the unit holders (like shareholders) have a fixed interest in the capital and income of the trust. Just as shares are issued to shareholders in exchange for an appropriate sum of money, units are issued to unit holders.
A Farm Discretionary Trust is used where a family wishes to acquire land for primary production and to pass that land to other family members. A farm discretionary trust is usually set up for farm succession planning within a family.