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From 1 July 2017, the need for specialist advice is as important as ever, with the introduction of the transfer balance cap (TBC) impacting on the amount of death benefits that a beneficiary can receive as an income stream. Clients who have already put plans in place to direct their superannuation where they want it to go on their death will have to redesign those plans. Advisers talking to clients about putting such plans in place will need to refresh their thinking around the relevant considerations to be addressed in the advice they provide.
Where the recipient of a death benefit pension exceeds their own TBC, they will need to take any excess as a lump sum death benefit. Different rules apply to modify the TBC rules for a child beneficiary and for a reversionary beneficiary. The amount of money that can now be retained within the superannuation environment upon the death of a member as either a pension account or an accumulation account of the recipient member has been materially curtailed.
This is a significant shift in relation to superannuation death benefits and estate planning, making it paramount to review all succession plans involving superannuation benefits.
Join Peter Hogan, the Head of Technical and Education in our November Masterclass.
The Masterclass workshop will provide you with specialised knowledge and skills to analyse your client’s information and provide solutions to their complex situations.
Get hands-on practice at determining the best course of action and subsequent outcomes for particular clients through the interactive discussion, activities and examples.
To ensure that you get the most out of the Masterclass, we will be providing
• A pre-course quiz to help us develop the Masterclass to suit your needs
• A webinar which will acquaint you and fellow participants with the course format and content as well as introducing content to be covered that we will later build on.
• A pre-course assignment which embeds the themes introduced in the webinar. It includes pre-reading material and a case study to analyse.
• A 3-hour intensive face-to-face course where you will explore and discuss all aspects. For most of the course we will look at some strategies you can use to get the best outcomes for your clients, and tackle some tricky real-life situations which will get you thinking outside the box.
Take advantage of an exclusive membership + Masterclass bundle by following this link for further instructions:
Peter Hogan is the SMSF Association’s Head of Education and Technical. He is one of Australia’s foremost SMSF specialists, having worked in the sector over many years. A lawyer by training, he cut his teeth in the ATO before joining some of Australia’s largest financial institutions to work in key superannuation, investment and taxation roles. His enormous industry experience and knowledge, especially as they pertain to tax issues, means he is in constant demand on the SMSF speaking circuit. Away from the world of SMSFs, he is a keen weekend golfer when he is not providing a taxi service to junior sporting events. Peter is an SMSF Association Specialist Adviser and former Chair and National Board member of the Association.
Price for Members
Price for Non-Members
8 Mar 2017 - 31 Dec 2017
27 Feb 2017 - 27 Feb 2018