The recent case of Dawson v Dawson [2019] NSWSC 826 recently handed down by the New South Wales Supreme court serves as a solemn reminder of what can go wrong when families, particularly blended families, with SMSFs, are in conflict with incomplete documentation. In this blogpost, we explore the circumstances of the case and what…
It is one of the most contentious issues for members of a SMSF when it comes to the payment of a super income stream and their estate planning wishes – in the event of death, what document will take precedent? An auto-reversionary pension or binding death benefit nomination (BDBN)? Well, the answer ultimately depends upon…
With Treasury Laws Amendment (2018 Measures No. 4) Bill 2018 finally passing the Senate late in 2018, it required further amendments to be passed by the House of Representatives before this ‘fix’ would apply to allow for certain reversionary pensions to continue or move into the retirement phase. Importantly, we have now seen this legislation on…
The benefit of hindsight is a wonderful thing, in particular when it came to the way many practitioners dealt with the payment of income streams for their SMSF clients. Before 1 July 2017, where a member was 60 years or over, it really didn’t matter how the benefit payments were paid as the pension was…
As we’ve moved through a phase of implementation with the superannuation reforms from 1 July 2017, a range of relatively small, but important issues have been flagged with Government regarding the treatment of Market Linked Pensions, and death benefit rollovers. Market Linked Pension commutations For Market Linked Pensions, any pre-existing income stream was initially…
