Death benefits: Everything under the sun

  • Presentations, Technical Resource
  • Death benefits

Technical Summit 2022

You arrive at the office and sit down at your desk in the morning and review your task list for the day. Then you receive your first call for the day, it’s a very distraught client who tells you that their spouse has just passed away. What happens next?
 
In this interactive workshop, Mark Ellem (the accountant) and Clinton Jackson (the lawyer) will consider the administration, tax and legal issues and challenges of dealing with the death of an SMSF member from the time the phone rings right through to the payment of the death benefit. How can the accountant and the lawyer work together with the client to ensure that the relevant superannuation and tax compliance requirements are met and they can all stay out of court!
 
This session will also explore issues associated with common headline topics such as binding death benefit nominations, reversionary pensions and dependants. But it will go further to ensure CGT consequences are not overlooked, opportunities to claim future deductions in the SMSF are maximised and strategies to minimise the overall taxation of death benefits are identified.

Death benefits: Everything under the sun

Technical Paper
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The contents of this resource are taken to be correct at the time of publication.

Disclaimer: Technical Papers contain factual information only and are prepared without considering particular objectives, financial circumstances and needs. The information provided is not a substitute for legal, tax and financial product advice. The information contained in this document does not constitute advice given by the SMSF Association to you. If you rely on this information yourself or to provide advice to other persons, then you do so at your own risk. The SMSF Association is not licensed to provide financial product advice, legal advice or taxation advice. We recommend that you seek appropriate professional advice before relying upon the information in this technical paper. While the SMSF Association believes that the information provided is accurate, no warranty is given as to its accuracy and persons who rely on this information do so at their own risk. The information provided in this paper is not considered financial advice for the purposes of the Corporations Act 2001. © SMSF Association