News : Death benefits

Review fund deed when circumstances change

February 26, 2024

BDBN Seperation De facto Trust deed SMSF

It is crucial to review the trust deed of a fund in the breakdown of a spousal relationship to ensure estate planning strategies can continue to operate as intended.

Division 296 exemptions narrow

Division 296 tax Personal injury Contributions Death benefit pension Exemption

February 20, 2024

Darin Tyson-Chan

Superannuation members subject to a specific set of circumstances will not be caught by the proposed tax on total super balances over $3 million.

Case shows need for BDBN paper trail

SMSF BDBN Capacity Death benefit NSW Supreme court

February 1, 2024

Todd Wills

The NSW Supreme Court has deemed a BDBN made on the day of an SMSF member’s death valid, despite a challenge in relation to the deceased’s capacity to execute the document.

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Death benefits

Remove lump sum restrictions

Death benefit lump sum limits IFPA Institute of Financial Professionals Australia Pre-budget submission

January 25, 2024

Jason Spits

Limits on the number of death benefit lump sums from superannuation are restrictive and should be removed to prevent breaches of the super regulations.

Equity rule key to benefit payments

Equity SMSF Death benefit BDBN Reversionary pension

January 25, 2024

Todd Wills

Understanding the rules of equity is essential in determining how superannuation death benefits will be paid out in a legal case.

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Death benefits, Regulation, Tax

Death benefit payment delay risky

Death benefit Payment Pension Lump sum ECPI

January 24, 2024

Todd Wills

SMSF trustees have been urged to promptly distribute death benefits as doing so is believed to reduce the likelihood of unintended consequences.

Non-cash payouts can be a great solution

ATO Death benefit member benefit Superannuation benefit Redemption of investments

January 18, 2024

Jason Spits

A recent ATO private ruling regarding death benefits could have had a different outcome if an alternate redemption process had been used.

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Death benefits, Pensions, Tax

$3m super tax pension risk

SMSF Reversionary pension $3m soft cap tax Pension

January 17, 2024

Todd Wills

Reversionary pension beneficiaries may be at risk of an additional tax hit due to a provision contained within the draft legislation for the $3 million soft cap measure.