According to the SIS Act, a related party in terms of a Superannuation Fund is:

1.    A member of the fund;

2.    A standard employer - sponsor of the fund; and

3.    A Part 8 associate of an entity of a member of the fund.

An employer - sponsor is an employer who contributes to the fund for the benefit of the member or their associates or the dependants of the member in the event of death.

Part 8 associates of a member according to Section 70B of the SIS Act include:

-       All other members of the SMSF;

-       Relatives of the member;

-       Business partners of the member;

-       Any spouse or child of those business partners;

-       Any companies that a member controls or influences; and

-       Any trust that a member controls.