shopping_cart

Your shopping cart is empty

Divorce and SMSFs

Member Price: $22.00
Non Member Price: $28.00

DisclaimerThis material is copyright. Apart from any fair dealing for the purposes of private study, research, criticism or review, as permitted under the Copyright Act, no part may be reproduced by any process without written permission from The Tax Institute.
Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

Published on 01 Mar 16 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE

When parties to a marriage divorce, there may be a need to split superannuation between them, where they are members of a self-managed superannuation fund (SMSF). The splitting process is governed by the Family Law Act 1975 (Cth). It is in two stages: first, an order or agreement, the effect of which is to bind the trustee to split payments as and when those payments are due to be paid to the member; and second, service of the payment splitting order on the trustee, giving rise to the operating standards under Pt 7A of theSuperannuation Industry (Supervision) Regulations 1994 (Cth).

This article examines a number of common problems that arise in implementing the splitting process, and discusses solutions to those problems, including the tax consequences of superannuation splitting, and failure to take account of those consequences. Cases which illustrate SMSF difficulties are discussed.

Author profile

Stephen Bourke ATI
Stephen holds an Arts/Law degree and received the prize for excellence on graduation awarded by the Australian Institute of Management. He is an accredited specialist with the Self-Managed Superannuation Fund Association (SMSFA). Stephen Bourke is a Director in a boutique legal practice, Certus Law, a practice that specialises in trusts and estates, together with superannuation law, property and tax law. Stephen Bourke is author of the text “Super Splitting for Family Lawyers” published in February 2011 and contributes regularly to the professional literature in superannuation law and estate law. - Current at 27 November 2015
Click here to expand/collapse more articles by Stephen BOURKE.

 

Copyright Statement