Published on 12 Sep 13
by NATIONAL DIVISION, THE TAX INSTITUTE
The theory relating to benefit payments is well known as are some of the strategies on how to pay benefits in the most tax-effective manner. This paper explores the less common, possibly forgotten strategies that surround the laws on benefit payments by:
- recapping on the taxation arrangements on lifetime and death benefits
- discussing the implications of electing for a payment not to be treated as anincome stream
- exploring the benefit of rolling back a pension now and commencing a new onelater
- planning for income and salary sacrificing to maximise benefits
- considering the opportunities with estate planning.
Phil is a principal of Sladen Legal and heads its superannuation team. He is a member of a number of superannuation related committees. This includes being the co-chair of The Tax Institute’s superannuation committee and the chair of SISFA’s technical and policy committee. He is also a member of a number of the ATO’s superannuation liaison groups including the Superannuation Industry Relationship Network (SIRN) and the Superannuation Industry Stewardship Group (SISG). Phil is also heavily involved in liaising with Treasury and ATO in relation to the implementation of new super laws and administrative practices. Phil’s areas of practice include superannuation, duties and state taxes, estate planning and succession, trusts, federal tax and business structuring. Phil was listed in the 2020 and 2021 Best Lawyers Australia for superannuation law and was the winner of the SMSF Association’s SMSF Specialist Advisor (SSA) Top Achiever Award in 2019. His articles have featured in The Tax Institute’s Taxation in Australia Journal and CCH’s Super News. He has presented at seminars and conferences conducted by The Tax Institute, the SMSF Association, the Television Education Network, Legalwise and various accounting bodies.
- Current at
23 February 2021