Special Tax & Superannuation Topics 2023-24 - Part 2: Essential SMSF estate planning - Post death
This session highlights the key estate planning issues post the death of an SMSF member, including required fund processes and procedures. We will also look at the tax outcomes for both the beneficiaries and the SMSF, and ways that this can be managed.
We will cover:
- Trustee obligations and reporting requirements when paying death benefits
- Tax issues for SMSF trustees to consider around Exempt Current Pension Income
- Trustee options around tax deductions for insurance policies vs. claiming a future service period deduction
- Issues that need to be considered around controlling individuals
Learning outcomes
On successful completion of this topic, participants should be able to:
- Understand the regulators' expectations around SMSF processes and payments for death benefits
- Identify fund-specific requirements and trustee compliance obligations for the processing of death benefit payments
- Understand the tax issues and outcomes relevant to both the SMSF and the recipient of a death benefit payment post the death of a member
- Understand the relevant considerations for the funds' ongoing structure, including tax and SIS compliance considerations.
Benefits
This session forms part of the Special Tax & Superannuation Topics Series. These concise 1.5-hour sessions have been specifically designed for an online platform to ensure training is informative, immersive, and even fun. These sessions will:
- Ensure you get the critical knowledge you need while minimising your time out of the office.
- Assist you in providing proactive tax and superannuation advice and identifying tax planning opportunities early
- Help you avoid any possible traps and pitfalls
- Give you answers to the questions most relevant to you
Our partnership with Thomson Reuters gives you the most up-to-date information, updated regularly and enhanced by our technical specialists.
Continuing Professional Development Hours
The content covered in this topic constitutes verifiable CPD for CA ANZ, has been assessed for ASIC and FASEA CPD, and also meets the Tax Practitioners Board's CPE requirements.
PER SESSION | |
| CA ANZ | Up to 1.5 CPD hours |
| Tax Practitioners Board | Up to 1.5 CPD hours |
Related packages
Looking for more? Our Essential Tax & Superannuation Updates perfectly complement these special topic sessions.
This series is presented by our Senior Tax & Superannuation trainers:
James McPhedran, Senior Tax and Superannuation Trainer, CA ANZ
James has 18 years’ experience in the industry, including roles at the Big Four accounting firms and advisory roles at mid-tier firms. He has been an educator with Chartered Accountants ANZ for 9 years. His advanced knowledge of taxation and superannuation has allowed him to focus on small to medium enterprises and high net worth individuals. James holds a bachelor’s degree in law and economics from the University of Queensland and a Master of Taxation from the University of Sydney .
Lydia Kovacevich, Senior Tax and Superannuation Trainer, CA ANZ
Lydia has over 20 years of experience in the tax and accounting industry working for, at various times, a ‘big four’ accounting firm, a second-tier firm, a global oil and gas service company, a tax training organisation and the Australian Taxation Office.
During this time Lydia acquired extensive experience in tax and accounting matters relevant to various types of entities and industries and gained a wealth of experience in writing about tax. Lydia has strong analytical and technical abilities and is very passionate about tax education.
EVENT DETAILS
Topic: Tax
Sub-Topic: Income Tax
Format: Recorded Webinar
Proficiency Level: Intermediate, Advanced
CPD: Upto 1.5 hours