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Investment option
Cash is simple to hold, but it still creates a fund position.
Bank accounts, cash reserves and term deposits form the liquidity base of many SMSFs. Trustees still need visibility across ownership, interest, maturity dates, movements and evidence.
At a glance
Liquidity needs structure.
Bank accounts
Cash reserves
Term deposits
Interest income
Maturity dates
Account ownership
Transactions
Annual evidence
Cash should remain visible as part of the fund strategy, not disappear into bank portals.
Operating position
What sits behind the fund’s cash position.
01
Account position
Keep the institution, account type, ownership and current position visible.
02
Liquidity view
See what is immediately available and what is locked into a term deposit.
03
Interest position
Keep interest income, rates, payment timing and annual evidence connected.
04
Maturity planning
Term deposit maturity and renewal decisions should remain visible before deadlines pass.
Evidence position
Keep the cash evidence together.
Cash may be straightforward, but bank ownership, transactions, interest and maturity evidence still need to support the annual fund position.
Bank statements
Account opening records
Term deposit confirmations
Interest statements
Maturity notices
Transaction records
Attention points
Cash can still create attention points.
Liquidity is useful, but trustees also need to understand concentration, maturity timing and how cash fits the wider strategy.
01
Idle cash
Large cash balances may need to be considered against the fund’s investment strategy and return objectives.
02
Maturity timing
Term deposits can restrict access to cash when pensions, expenses or investment decisions require liquidity.
03
Account ownership
Accounts should remain clearly connected to the SMSF and its legal ownership position.
04
Movement context
Transfers and withdrawals should remain explainable within the wider fund record.
How SMSF Home helps
Keep the liquidity position visible.
01
Account register
See each cash account and term deposit as a separate fund position.
02
Maturity prompts
Surface upcoming maturity and review dates before they are missed.
03
Income evidence
Keep interest statements and annual records attached to the account.
04
Fund-wide liquidity
Understand how available cash supports expenses, pensions and future decisions.
Bring the liquidity position home
Keep cash, term deposits, maturity dates and evidence visible in one fund workspace.
Home Helper™ source and review record
Primary guidance sources
This educational summary is not a substitute for the current law, regulator guidance or advice based on the fund's circumstances. Use the primary sources below to check the rule and later changes.
- ATO - Investment strategy (opens in a new tab)
Source checked 2026-08-21
- ATO - What are the SMSF investment restrictions? (opens in a new tab)
Source checked 2026-08-21
- ATO - Valuation guidelines for self-managed super funds (opens in a new tab)
Source checked 2026-08-21
Resource version 1.0.0 / Content reviewed 2026-08-21