The ATO has issued a number of easily understood videos on the subject of Trustee training.
The ATO expects trustees to understand their full legal obligations in respect to being Trustees and Directors (if a corporate trustee is chosen) and what they are legally allowed to do in operating an SMSF.
The ATO is able to audit fund trustees and their activities (at any time) in meeting their compliance obligations and can instruct trustees to undergo training if they deem it necessary.
Preset Super will be issuing further education support for trustees in future releases.
