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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.
Tony has been a Partner with PKF Adelaide for the last five years. Tony's principal areas of practice are Business Services, Superannuation Consulting and Financial Planning. He is an Authorised Representative of PKF Financial Services Pty Ltd and provides advice to a range of PKF clients for retirement planning and provides advice on investment and risk insurance needs for clients. He has been in Professional Practice for over 25 years. Current at 23 February 2006
The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009.
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