January 2, 2020 @ 5:30 am - January 2, 2030 @ 5:30 am$275
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 relevant taxation considerations.
This 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 whether taxation deductions are available to the fund once a death benefit has been paid. This module concludes with a discussion and guide to winding up an SMSF.
On completing this module, participants should be able to:
- identify the different types of superannuation death benefit nominations that can be made
- differentiate between a Superannuation Industry (Supervision) Act 1993 (Cth) dependant and a tax dependant
- identify the different tax deductions that may be available to a superannuation fund following the death of a member
- explain how to wind-up an SMSF and associated advice considerations.