Superannuation 2022

Superannuation death benefits: nomination options

Source: Taxation In Australia Journal Article

Published Date: 1 Sep 2022


Self-managed superannuation funds are a flexible investment structure for housing superannuation savings. However, care is required to ensure that the opportunities are able to be successfully navigated. While unplanned tax is often the main consequence of inappropriate superannuation structuring, when it comes to death benefits, there can be wider implications, including the usurp of the member's legacy objectives. A common misconception is that a person's will is sufficient to ensure that their superannuation lands where they expect it to. Other misconceptions include a broader range of potential beneficiaries than the law permits and, for SMSFs, to whom, and how, death benefits can be paid. Recent case law has provided further guidance on the correct interpretation of SMSF death benefit processes and helps to provide some clarity around the common misconceptions. This article provides a guide to considerations for appropriate superannuation succession planning by straddling the various laws and judicial interpretations.

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  • Published By: Kym Bailey
  • Published On:1 Sep 2022

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Superannuation 2022

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