Maximising the benefits offered by SMSF structures case study and solutions paper

Published on 01 Nov 12 by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE

Advisers have concentrated on the benefits offered through contributions to SMSFs, investments in SMSFs and the payment of lump sums and pensions. With aging SMSF members, is there more advisers could be doing to optimise the benefits a SMSF structure can provide to members and their families? This practical paper is aimed at investigating strategies and techniques on how to manage benefits during accumulation, retirement and death, for the benefit of the member and their family. Using a range of real life case studies to examine and demonstrate some of the potential benefits and legal isses of implementing these strategies, areas covered include:

• the concept of members interests and segregation of fund investments
• creation of different reserves in funds
• taxation of members’ benefits and reducing tax on death
• SMSFs as a multi-generational wealth transfer structure.

Author profile

Stephen Heath CTA

Stephen Heath, CTA, is a Partner in the Taxation & Revenue section of Wallmans Lawyers, with his principal practice areas being superannuation and tax. He also works on general commercial matters with a focus on tax planning, business structuring and insurance. Steve is a recent past member of The Tax Institute’s State Council and National Council. - Current at 08 July 2019

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