Notes Online
Welcome to Notes Online.
We offer chapters and articles for individual purchase and we hope you benefit from using our Notes Online.
Disclaimer
These notes are intended to be a guide only. None of the comments contained in these seminar notes are intended to be advice, whether legal, financial or professional. You should not act solely on the basis of the information contained in these notes because many aspects of the material have been generalised and the tax laws apply differently to different people in different circumstances. Further, as tax and related laws change frequently, there may have been changes to the law since the notes were written. Specific advice should always be obtained from a tax professional.
Price
$33.00
Document Type
Article
Pages
15
Notes Online Home 2015 Super Schools Day 1 Latest Developments with Paying Benefits from an SMSF
Recent developments affecting the payment of death benefits from an SMSF
In this segment of the notes, we discuss the changes that affect the payment of death benefits from an SMSF. In particular, the following:
- Background to paying death benefits from an SMSF under the compulsory cashing rules
- Recent decision highlights the dangers with incorrectly drafted Binding Death Benefit Nominations (‘BDBNs’)
- Paying death benefits to grandchildren – the concept of ‘financially dependent’
- Paying lump sum death benefits to a surviving spouse by way of journal entry – new ATO guidelines
- Applying the minimum payment rule for a pension that ceases upon a member’s death – latest ATO approach