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Paying death benefits from super funds presentation

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.

Author profile:

Tony SIMMONS
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 Current at 23 October 2007 Click here to expand/collapse more articles by Tony SIMMONS.
 

 

This was presented at 40th South Australian State Convention: Let's Celebrate .

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