News : Death benefits

ATO, Death benefits

ATO tightens view on death benefit dependency

A series of ATO private rulings has shown the regulator taking a limited view on who is regarded as a dependant when claiming super death benefits.

A series of ATO private rulings has shown the regulator taking a limited view on who is regarded as a dependant when claiming super death benefits.

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Death benefits, Legislation, Superannuation

Family abuse super reforms released

Consultation is being sought on reforms to prevent the perpetrators of domestic and family violence from accessing the superannuation of victims.

Consultation is being sought on reforms to prevent the perpetrators of domestic and family violence from accessing the superannuation of victims.

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Death benefits, Division 296, Legislation, Regulation, Superannuation, Tax

Div 296 death rules a critical change

The application of Division 296 to deceased superannuants is a critical change to the revised bill and may have a significant tax impact.

The application of Division 296 to deceased superannuants is a critical change to the revised bill and may have a significant tax impact.

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Death benefits, Superannuation

Death benefit regime out of date

The payment of death benefits needs to be realigned with modern definitions of who may be considered a family member or dependant.

The payment of death benefits needs to be realigned with modern definitions of who may be considered a family member or dependant.

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Death benefits, Strategy, Tax, Trusts

Recent PBR a win for minor trusts

A recent ATO private binding ruling has confirmed income earned in a minor’s trust relating to a super death benefit can avoid punitive tax rates.

A recent ATO private binding ruling has confirmed income earned in a minor’s trust relating to a super death benefit can avoid punitive tax rates.

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Death benefits

Law will decide member benefit treatment

Whether a benefit drawdown request made before a member dies but not processed is treated as a death benefit will ultimately be decided by the courts.

Whether a benefit drawdown request made before a member dies but not processed is treated as a death benefit will ultimately be decided by the courts.

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Death benefits

No need to accept death benefits

Individuals can refuse to accept receipt of a superannuation death benefit if their personal situation is not suitable for them to take the payment.

Individuals can refuse to accept receipt of a superannuation death benefit if their personal situation is not suitable for them to take the payment.

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Compliance, Death benefits, Pensions

TR 2013/5 impacts death pensions

Additional rules must be followed beyond those in Taxation Ruling 2013/5 when a death benefit pension fails to make minimum payments.

Additional rules must be followed beyond those in Taxation Ruling 2013/5 when a death benefit pension fails to make minimum payments.

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