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The life and death of an SMSF pension: Tax and succession planning
Published on 01 Dec 11 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE
While much wealth is now accumulated in self-managed superannuation funds (SMSFs), the full potential and versatility of SMSFs is often not realised until entering the pension phase. This article considers some of the topical tax and succession planning issues that arise in relation to SMSF pensions, especially in the light of the Commissioner of Taxation's draft taxation ruling TR 2011/D3. The new draft ruling provides considerable insight into the Commissioner's views of when a superannuation income stream commences and ceases, and will have significant implications for SMSF pensions. The article sets out to demonstrate that careful planning and documentation can avoid undesirable outcomes and optimise results in the life and death of a superannuation pension.
Author profile
Peter Slegers CTA
Peter Slegers, CTA, heads Cowell Clarke’s Tax & Revenue, Superannuation and Private Client practice groups. Peter advises and acts for a wide range of public and private companies and high net worth individuals and families. Peter’s areas of expertise include income tax (as it impacts on business and high net worth clients), capital gains tax, goods and services tax, state taxes, trust law and superannuation law. Peter has published numerous papers on trust structures and has considerable experience in this area. Peter is also a co-author of the Tax Institute’s SMSF Income Stream Guide and Cowell Clarke’s Australian Agribusiness Advisers’ Guide.
- Current at
16 April 2024
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