SMSF Trust Deed Template

SELF-MANAGED SUPERANNUATION FUND TRUST DEED

Thompson Family Superannuation Fund · Australia

FUND

THIS DEED is made on 1 June 2026. The parties named herein constitute a self-managed superannuation fund ("SMSF") within the meaning of section 17A of the Superannuation Industry (Supervision) Act 1993 (Cth) ("SISA") and agree that the Fund shall be governed by this Deed and all applicable Commonwealth and State legislation:

The parties establish a superannuation fund to be known as the "Thompson Family Superannuation Fund" (the "Fund") with effect from 1 June 2026. The Fund is established as an SMSF within the meaning of section 17A of SISA and shall be maintained in accordance with SISA, the Superannuation Industry (Supervision) Regulations 1994 (Cth) (the "SIS Regulations"), and the Income Tax Assessment Act 1997 (Cth) ("ITAA 1997"). The Fund shall at all times comply with the sole purpose test in section 62 of SISA — it is established and maintained for the sole purpose of providing retirement benefits to members, or, where a member dies before retirement, to their dependants or legal personal representatives. The Trustee undertakes to act at all times so that the Fund qualifies as a complying superannuation fund within the meaning of section 42 of SISA and Division 295 of the ITAA 1997.

In this Deed, unless the context otherwise requires: "ATO" means the Australian Taxation Office; "Condition of Release" has the meaning given in Schedule 1 of the SIS Regulations; "Dependant" has the meaning given in section 10(1) of SISA; "Fund" means the superannuation fund established by this Deed; "Member" means any person admitted as a member of the Fund; "Preserved Benefits", "Restricted Non-Preserved Benefits", and "Unrestricted Non-Preserved Benefits" have the meanings given in Division 6.3 of the SIS Regulations; "SISA" means the Superannuation Industry (Supervision) Act 1993 (Cth); "SIS Regulations" means the Superannuation Industry (Supervision) Regulations 1994 (Cth); "Transfer Balance Cap" means the transfer balance cap within the meaning of section 294-30 of the ITAA 1997; "Trustee" means the trustee or trustees of the Fund from time to time.

The Trustee of the Fund is Thompson Super Pty Ltd of 45 Hunter Street, Sydney NSW 2000. The Trustee is a proprietary company incorporated under the Corporations Act 2001 (Cth) (ACN 123 456 789). Each director of the corporate trustee must be a member of the Fund, and each member must be a director of the corporate trustee, as required by section 17A(1)(b) of SISA. The Trustee must at all times comply with the covenants in section 52 of SISA, including: (a) act honestly in all matters; (b) exercise care, skill, and diligence; (c) act in the best financial interests of members; (d) not enter prohibited transactions (SISA s.65 — no lending to members or relatives); (e) not acquire assets from related parties except at market value for business real property (SISA s.66); (f) maintain and implement a written investment strategy (SIS Reg 4.09). The maximum number of members at any time is six (6), as required by section 17A(1) of SISA.

The following persons are admitted as the initial members of the Fund: James R. Thompson of 45 Hunter Street, Sydney NSW 2000 (Member 1); Sarah K. Thompson of 45 Hunter Street, Sydney NSW 2000 (Member 2). Admission of new members: A person may become a member by written application to the Trustee and acceptance by the Trustee, subject to the Fund not exceeding six (6) members and the new member satisfying the requirements of SISA s.17A. No employer (other than a relative of the member) may have an employee as a fellow member unless the fund otherwise meets the requirements of SISA s.17A. Cessation of membership: A member ceases to be a member upon: (a) full payment of the member's entire benefit entitlement; (b) death; (c) merger of the member's interest into another complying superannuation fund by rollover. On cessation, the member (or, in the case of death, their legal personal representative) must resign as trustee or director of the corporate trustee.

The Trustee may accept contributions to the Fund in accordance with SISA and the SIS Regulations, including: (a) Concessional contributions — employer contributions (including compulsory SGC and salary-sacrifice), and personal contributions for which a tax deduction is claimed under section 290-180 of the ITAA 1997. Subject to current concessional contribution caps as set by the ATO; (b) Non-concessional contributions — personal after-tax contributions and spouse contributions, subject to the non-concessional contribution cap and the member's total superannuation balance; (c) Rollovers — superannuation benefits rolled over from other complying superannuation funds or retirement savings accounts; (d) Government co-contributions and low income superannuation tax offset (LISTO) where applicable. The Trustee may refuse any contribution that would cause the Fund to contravene SISA, the SIS Regulations, or the ITAA 1997. All contributions must be allocated to the contributing member's account within twenty-eight (28) days of receipt.

The Trustee must formulate, implement, and regularly review a written investment strategy as required by SIS Regulation 4.09, having regard to: (a) the risk and return profile of investments; (b) diversification and the benefits of diversification; (c) the liquidity of assets relative to the Fund's expected cash flow; (d) the ability of the Fund to discharge its liabilities; and (e) whether the trustees should hold insurance for members. The Trustee may invest the Fund's assets in any investment, consistent with the investment strategy and the prudent investor standard. Prohibited transactions: The Trustee must not (i) lend money or provide financial assistance to a member or relative (SISA s.65); (ii) acquire an asset from a related party of the Fund, except for listed securities or business real property at market value (SISA s.66); (iii) allow a single investment to exceed 5% of the Fund's assets where applicable in-house asset rules apply (SISA Part 8). The Trustee must not borrow money except in accordance with an arrangement complying with SISA s.67A (limited recourse borrowing) or as otherwise permitted by the SIS Regulations.

The Trustee must comply with the preservation, portability, and payment standards in Division 6 of the SIS Regulations. Member benefits are classified as: (a) Preserved benefits — held in the Fund until the member satisfies a Condition of Release and may only be paid as permitted under Schedule 1 of the SIS Regulations; (b) Restricted non-preserved benefits — may be paid on cessation of a gainful employment arrangement with the contributing employer; (c) Unrestricted non-preserved benefits — may be paid at any time. Conditions of Release include: retirement (reaching preservation age and permanently retiring, or reaching age 65), terminal medical condition, permanent incapacity, severe financial hardship, and compassionate grounds. The Fund's preservation age depends on the member's date of birth and ranges from age 55 to 60 under the SIS Regulations.

Subject to the preservation standards, the Trustee shall pay benefits to a member (or their legal personal representative or dependants) upon satisfaction of a Condition of Release. Benefits may be paid as: (a) a lump sum; (b) a superannuation income stream (pension) in accordance with Subdivision 7.1 of the SIS Regulations; or (c) a combination of both. The tax treatment of benefits is governed by Division 302 and Division 307 of the ITAA 1997 (taxable and tax-free components). Members who have reached age 60 and satisfied a Condition of Release generally receive benefits tax-free from a taxed source.

On the death of a member, the Trustee shall pay the death benefit (the deceased member's account balance plus any applicable insurance proceeds) to one or more of the following: (a) the member's dependants (within the meaning of section 10(1) of SISA), including spouse, children, and persons in an interdependency relationship; (b) the member's legal personal representative. The Trustee has a discretion to determine the proportional allocation between dependants and the legal personal representative unless a valid binding death benefit nomination is in force. Death benefits paid directly to dependants are not subject to estate distribution rules. The tax treatment of death benefit payments is governed by Division 302 of the ITAA 1997.

The Trustee must keep and maintain accounting records that correctly record and explain the Fund's transactions and financial position in accordance with section 35B of SISA. Each year, the Trustee must: (a) prepare annual financial statements (statement of financial position and an operating statement); (b) engage an approved SMSF auditor registered with ASIC to conduct an independent audit of the Fund's financial statements and compliance with SISA and the SIS Regulations (section 35C of SISA); (c) lodge the Fund's annual return with the ATO by the due date; and (d) maintain all records, financial statements, and audit reports for at least five (5) years (section 35E of SISA). Any reportable contravention of SISA must be reported by the auditor to the ATO under section 129 of SISA.

This Deed may be amended by a written Deed of Amendment signed by the Trustee and all members of the Fund. No amendment shall: (a) contravene any provision of SISA or the SIS Regulations; (b) adversely affect the Fund's status as a complying superannuation fund; (c) reduce the accrued benefit entitlement of any member without that member's written consent; or (d) extend the Fund's existence beyond what is permitted by law. The Trustee must notify the ATO of any amendment to the Deed if required by applicable law. This Deed incorporates all applicable provisions required by SISA as if set out in full, and any provision of this Deed inconsistent with SISA is void to the extent of the inconsistency.

The Fund shall be wound up and terminated: (a) on the unanimous written agreement of all members; (b) when there are no remaining members; (c) on order of a court of competent jurisdiction; or (d) as directed by the ATO under SISA. On winding up, the Trustee must: (i) realise and distribute all member accounts to each member (or the member's legal personal representative or dependants if the member has died) in accordance with the SIS Regulations; (ii) satisfy all outstanding liabilities of the Fund; (iii) notify the ATO and lodge a final annual return; and (iv) cancel the Fund's ABN and TFN. Any residual assets after distribution shall be paid to each member's legal personal representative in proportion to account balances at the date of wind-up.

This Deed is governed by the laws of the Commonwealth of Australia, primarily the Superannuation Industry (Supervision) Act 1993 (Cth) and the Income Tax Assessment Act 1997 (Cth). To the extent state or territory law applies, this Deed is governed by the law of the State or Territory in which the Trustee is principally resident or registered. All disputes arising out of or in connection with this Deed shall be subject to the non-exclusive jurisdiction of the courts of the Commonwealth of Australia and the relevant State or Territory.

Binding Death Benefit Nominations: Members may make a valid binding death benefit nomination in accordance with section 59(1A) of SISA directing the Trustee as to the payment of death benefits. A binding nomination must: (a) be made in writing, signed, and witnessed by two persons each aged 18 or over who are not nominated as beneficiaries; (b) specify the proportion of benefits to be paid to each nominated beneficiary; (c) nominate only the member's legal personal representative or one or more dependants as defined in section 10(1) of SISA. A binding nomination that is not expressed as a non-lapsing nomination will lapse three years after the date it was first signed (SIS Regulation 6.17A), unless renewed. The Trustee must be satisfied the nomination is valid before being bound by it. Non-Lapsing Binding Nominations: This Deed expressly authorises members to make non-lapsing binding death benefit nominations. A non-lapsing nomination: (a) does not expire unless revoked in writing by the member; (b) remains binding on the Trustee until revoked, regardless of the passage of time; (c) is revocable by the member at any time while the member has capacity, by written notice to the Trustee. Non-lapsing nominations must comply with all formality requirements for binding nominations. Members are encouraged to review their non-lapsing nominations on any change in personal or family circumstances. Reversionary Pension Nominations: Where a member is receiving an account-based pension, they may make a reversionary pension nomination designating a person (typically a spouse or de facto partner) as the reversionary beneficiary. On the member's death, the pension automatically reverts to the nominated beneficiary without requiring a fresh pension commencement — preserving the pension's continuity. A reversionary nomination must be in writing, signed, and accepted by the Trustee. The reversionary beneficiary must be a dependant within the meaning of section 10(1) of SISA. A reversionary pension nomination is distinct from a binding death benefit nomination and overrides the Trustee's discretion as to the form (not amount) of the death benefit.

Account-Based Pension: Members who have satisfied a Condition of Release may commence an account-based pension (formerly allocated pension) from the Fund in accordance with SIS Regulation 1.06(9A) and Subdivision 7.1 of the SIS Regulations. An account-based pension must comply with the minimum drawdown requirements under SIS Regulation 7.04 (annual percentage of account balance based on the member's age). The pension ceases on exhaustion of the account balance or on the member's death. The capital value of all account-based pensions is counted against the member's Transfer Balance Cap (ITAA 1997 s.294-30). Pension payments from a taxed source are generally tax-free for members aged 60 or over. Transition to Retirement (TTR) Pension: Members who have reached their preservation age but have not yet retired may commence a Transition to Retirement Income Stream (TRIS) in accordance with SIS Regulation 1.06(9A). A TRIS is subject to: (a) minimum drawdown requirements consistent with account-based pension standards; (b) a maximum drawdown of ten per cent (10%) of the account balance as at 1 July of each financial year; (c) prohibition on commutation (lump sum withdrawal) unless the member satisfies a full Condition of Release (retirement, permanent incapacity, terminal illness, or age 65). A TRIS in accumulation phase does not count against the Transfer Balance Cap and the Fund's earnings in respect of a TRIS remain taxable until the member satisfies a full Condition of Release. Pension Commutation: A member receiving an account-based pension may commute (partially or fully) the pension back to accumulation phase or to a lump sum benefit (subject to satisfying a Condition of Release for any preserved amounts). Partial commutation — converting part of a pension to a lump sum — is permitted and results in a debit to the member's transfer balance account (ITAA 1997 s.294-80). Full commutation ceases the pension entirely. Commutation must be made in writing to the Trustee specifying the amount to be commuted. The Trustee must give effect to a commutation request within thirty (30) days. Any commuted amount returned to accumulation phase does not re-count against the Transfer Balance Cap until recommenced as a pension.

The Trustee may accept in-specie contributions (non-cash contributions of assets) from a member where permitted by the SIS Regulations and the ITAA 1997. In-specie contributions must: (a) be assets that the Fund is permitted to hold under SISA; (b) be valued at market value at the time of contribution, as independently verified; (c) not be acquired from a related party except for listed securities (at market value) or business real property (at market value) as permitted by SISA s.66; (d) be counted against the contributing member's contribution caps (concessional or non-concessional) in the financial year of contribution. The member must execute any transfer documentation required to vest legal and beneficial title in the Trustee. The Trustee must record the in-specie contribution in the member's account at market value on the date of transfer. An in-specie contribution of business real property must be supported by an independent valuation from a qualified valuer.

This Deed expressly authorises the Trustee to enter into a Limited Recourse Borrowing Arrangement (LRBA) in accordance with section 67A of SISA. An LRBA allows the Fund to borrow money to acquire a single acquirable asset (or a collection of identical assets with the same market value) held on a separate trust (bare trust or custodian arrangement). Requirements and restrictions: (a) the borrowed funds must be used to acquire the asset — no further borrowing may be secured against the same asset; (b) the lender's recourse on default is limited to the asset acquired — Fund assets not subject to the LRBA are protected; (c) the Trustee must acquire a beneficial interest in the asset which becomes the Trustee's unencumbered property once all borrowings are repaid; (d) the arrangement must not involve a charge over Fund assets in contravention of SISA s.67; (e) loan terms must comply with ATO safe harbour conditions or be on commercial arm's-length terms; (f) no LRBA may be used to acquire a collectible or personal use asset. The Trustee must consider the LRBA in the Fund's investment strategy review. This clause does not constitute financial advice and members should obtain independent financial and legal advice before entering into an LRBA.

The Trustee may hold life insurance, total and permanent disability (TPD) insurance, and income protection insurance for the benefit of members through the Fund, where consistent with the Fund's investment strategy and the sole purpose test. Insurance held by the Fund must: (a) have the Fund as the policy owner and premium payer; (b) be consistent with the member's contribution capacity, account balance, and retirement objectives; (c) comply with applicable SIS Regulations including, where required, that any own-occupation TPD definition is consistent with a Condition of Release. Insurance proceeds received by the Fund on a claim are credited to the member's account (or death benefit) and form part of the benefit payable to the member or their dependants or legal personal representative in accordance with this Deed. The Trustee must consider members' insurance needs when formulating and reviewing the investment strategy (SIS Reg 4.09(e)).

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date indicated.