Published on 28 May 09
by NEW SOUTH WALES DIVISION, THE TAX INSTITUTE
This paper looks at certain taxation and SIS compliance aspects of managing the treatment of benefits emerging from superannuation funds on the death of members and considers some options that could be presented to clients including:
- requirement to pay death benefits
- tax outcomes in the accumulation and pension phases
- concepts of SIS and tax dependency
- use and types of death benefit nominations
- the role of term life cover
- practical issues for the continuing control and operation of the trustee.
Hugh Taylor FTIA is a Client Director in the Tax Consulting Group, and an authorised representative of the Financial Planning Division, at Pitcher Partners Sydney. Hugh has over 20 years experience in chartered accounting and specialises in superannuation, retirement planning and administration of self managed funds. Hugh joined Pitcher Partners Sydney in 1984.
Current at 5 June 2008
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