This module provides the relevant references to paying benefits from a self-managed superannuation fund (SMSF) in the event of the death of a member. It revisits the trustee requirements on death, the benefit payment options and references the appropriate taxation. The module also investigates the ways in which a member can direct the trustees of their fund to pay their benefit when they pass away.

Following on from the death of a member, this module looks at a number of taxation deductions available to the fund once a death benefit has been paid and finally provides a guide to winding up the SMSF.

LEARNING OUTCOMES

On completing this module, you should be able to:

• identify the different types of nominations that can be made to a superannuation fund
• differentiate between a Superannuation Industry (Supervision) Act 1993 (Cth) dependant and a tax dependent
• calculate an anti-detriment benefit and deduction
• calculate the future liability to pay a benefit deduction
• wind-up an SMSF.