News : Death benefits

ATO, Death benefits

Six-month death benefit guidance removed

The ATO has amended the rules regarding the acceptable timeframe in which trustees can implement when making death benefit payments.

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Death benefits, Superannuation

Benefits payable to grandchildren

Cooper Grace Ward, Scott Hay-Bartlem, superannuation death benefit, Grandchildren, Will, SMSF, financial dependant, interdependency relationship

The nature of the relationship between a grandparent and their grandchildren will be the key driver determining if superannuation benefits can be paid to the latter.

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Death benefits, Legislation, SMSF, Superannuation

Benefit dispute highlights SMSF value

DBA Lawyers, William Fettes, BDBN, AFCA, Federal Court, Richard Lynn, Australian Prudential Regulation Authority, APRA, SMSF death benefit, SMSF lawyer,

A death benefit payment that was ruled on by AFCA and the courts has demonstrated the advantages of nominations and succession planning inside an SMSF.

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Death benefits, Superannuation

Financial abuse move now a certainty

Both major political parties have committed to amending the law to stop perpetrators of financial abuse from benefiting through superannuation.

Both major political parties have committed to amending the law to stop perpetrators of financial abuse from benefiting through superannuation.

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Death benefits, SMSF, Superannuation

Family violence super changes endorsed

The government’s vow to prevent perpetrators of family violence from profiting from a victim’s superannuation has been applauded.

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Death benefits, Trusts

Lapsed BDBN a matter of discretion

A trustee can consider the directions of a lapsed BDBN when paying benefits, but should no longer view it as obligatory and should use discretion instead.

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Death benefits, Documentation

Limit attorneys to prevent BDBN changes

Attorney, BDBN, EPOA, binding death benefit nomination, Cooper Grace Ward, Scott Hay-Bartlem, enduring power of attorney, authorisations, SMSF trust deed, conflict

An attorney with unchecked authority is able to alter BDBNs, but SMSF documentation can force them to act within limits chosen by the trustees.

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Death benefits, financial advice, SMSF

Ambiguous BDBNs need legal specialists

Binding Death Benefit Nomination, BDBN, Cooper Grace Ward Lawyers, Hayley Mitchell, SMSF Association National Conference 2025,

Advisers must self-evaluate their capability to negotiate problems with BDBNs they create and if unsure delegate that work to legal specialists.

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ATO, Business News, Death benefits, SMSF, Superannuation

Death pension doubt from TR 2013/5

Tax Ruling 2013/5, TR 2013/5, superannuation, income stream, death benefit pensions, minimum payment, Colonial First State, Craig Day, SMSF Association National Conference 2025, ATO

The update to TR 2013/5 has created uncertainty as to the treatment of a death benefit pension if the required minimum payment has not been met.

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Death benefits, Insurance, Legislation, SMSF, Superannuation

Caution needed with terminal illness benefits

SMSF practitioners should not adopt common rollover or pension strategies with terminal illness benefits as they should probably exit the super system.

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