This edition covers the ATO’s view on the re-classification of pension payments into lump sums once the pension payment has been received by a member.
This issue of Technically Speaking, written by the Association’s Technical Manager, Mary Simmons:
- Unpacks how the superannuation and tax laws interact to outline the issues that must be considered before withdrawing a lump sum;
- Outlines some advantages of paying amounts in excess of the minimum pension as a partial commutation;
- Reinforces the importance of satisfying the minimum pension drawing requirements;
- and much more…
The contents of this resource are taken to be correct at the time of publication.
Disclaimer: Technically Speaking bulletins contain general advice only and are prepared without taking in to account particular objectives, financial circumstances and needs. The information provided in this bulletin is not a substitute for legal, tax and financial product advice. Before making any decision based on this information, you should assess its relevance to the individual circumstances of your client. While the SMSF Association believes that the information provided in this bulletin 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 bulletin is not considered financial product advice for the purposes of the Corporations Act 2001. © SMSF Association