Published on 05 May 06
by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE
This presentation deals with the taxation consequences of the death of a member of a SMSF. Issues arising with death benefits are demonstrated by way of case studies. In particular the presentation reviews:
the rules relating to the payment of death benefits
the tax consequences of payment including a consideration of Lump Sum Death Benefit ETPs
the tax consequences of non excessive and excessive components of death benefit ETPs including RBL considerations
the payment of pensions after the death of a member
if an SMSF can pay pensions to children and any estate planning opportunities that might exist
the tax consequences of a life insurance payout received by a deceased estate
binding death benefit nominations.
Anthony Simmons CTA
Tony leads the Private Wealth team for BDO in South Australia supporting clients to protect and grow their wealth. Tony has substantial experience in providing financial advice to high net worth individuals and small-medium sized business owners. He advises on financial planning matters, ranging from personal risk insurance advice to next generation succession. He is a member of the firm's professional practice and hospitality sector teams, and works closely with the Superannuation team in supporting advice around self-managed superannuation funds. Current at 05 April 2016
The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009.
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