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27 Jun 13 Deceased member’s benefits cashed to member’s child – SMSFD 2013/1

On 26 June 2013 the ATO released Self Managed Superannuation Funds Determination SMSFD 2013/1, which is concerned with the question: where a deceased member’s benefits in a self managed superannuation fund are cashed in the form of a pension or an annuity to a child of the deceased member in accordance with reg 6.21(2A)(b)(ii)(B) of the Superannuation Industry (Supervision) Regulations 1994, does reg 6.21(2B) require the trustee to determine whether the child has a disability of the kind described in that regulation on the day the child turns 25 (or an earlier date, if applicable under reg 6.21(2B)(a)), in order to determine whether the pension or annuity being paid to the child is exempt from the requirement to be commuted and cashed as a lump sum on that day?

The answer is yes, in those circumstances, reg 6.21(2B) requires the trustee to determine whether the child has a disability of the kind described in s 8(1) of the Disability Services Act 1986 (Cth) on the day the child turns 25 (or an earlier date, if applicable under reg 6.21(2B)(a) of the SIS Regulations).

This Determination was not previously issued in draft.

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