Most companies can be used as a corporate trustee provided:
- a director, executive, secretary or other 'responsible officer' is not a 'disqualified person'
- all directors are members,
- a receiver, official manager or provisional liquidator has not been appointed, or
- action has not commenced to wind-up the company.
You could use an existing company, however, it's worth thinking about having a separate corporate trustee for your SMSF. This helps keep your SMSF's assets separate from your other assets, as required by law.
Also, because directors of the corporate trustee must generally also be members of the SMSF (with some exceptions), another existing company may have directors who will not be SMSF members.