"Considering I will be the only member, Individual seems the right way to go as I'll just nominate a family member as my 2nd trustee even though they won't use it."
This is why so many funds are in the ATO's sights. If you have a member who has a zero balance for a full tax year then that person no longer is a member. As they are no longer a member they cannot be a trustee. You now have 1 individual trustee which means you fund is no longer a complying fund.
This is straight from Graham Colley, one of the most respected authorities on SMSF's in Australia.
