Sep 9, 2023 | Accessing Superannuation, Blog, Death Benefits, Superannuation, Superannuation Tax
This superannuation death benefit calculator is designed to help you calculate the death benefit payable to each beneficiary and the tax payable by the recipients. A superannuation death benefit is a payment made to from a superannuation account to the beneficiary of...
Sep 9, 2023 | Blog, Death Benefits, SMSF, Superannuation
The difference between lapsing and non-lapsing superannuation nominations is that a lapsing nomination is generally valid for 3 years; whereas a non-lapsing nomination does not expire. Superannuation death benefit nominations are legal directives to a trustee of a...
Sep 5, 2023 | Blog, Death Benefits, Retirement Income Streams, Reversionary Pensions, Superannuation, Superannuation Tax
The tax on superannuation death benefits varies depending on the recipient of the benefits, the components that make up the benefit and the for in which the benefit is paid. Tax on superannuation death benefits can be quite considerable and have a significant impact...
Sep 4, 2023 | Blog, Death Benefits, Reversionary Pensions, SMSF, Superannuation, Superannuation Tax
A Non-Binding Death Benefit Nomination is a declaration made to the trustee of your super fund. A superannuation fund trustee is responsible for the management of your superannuation savings on your behalf. You are able to submit a nomination to the trustee detailing...
Sep 2, 2023 | Accessing Superannuation, Blog, Death Benefits, Superannuation
What is a non-binding beneficiary in superannuation? A non-binding beneficiary is a the person that you would like to receive your superannuation balance (and any insurance benefits within super) upon your death. A person becomes a non-binding beneficiary of your...
Sep 1, 2023 | Blog, Death Benefits, Reversionary Pensions, SMSF, Superannuation
There are a number of advantages and disadvantages of superannuation binding death benefit nominations. A superannuation binding death benefit nomination is akin to a Will for your super. Your Will does not control who receives your super if you die. The distribution...
Sep 1, 2023 | Blog, Death Benefits, Insurance in Super, Reversionary Pensions, SMSF, Superannuation
A lapsing binding death benefit nomination is a super nomination that has an expiry date. There are various death benefit nominations you can make. Generally, a non-binding nomination will be non-lapsing. A binding nomination can be lapsing or non-lapsing. The type of...
Sep 8, 2020 | Accessing Superannuation, Blog, Featured, Retirement Income Streams, Superannuation, Superannuation Tax
What is the taxable component in superannuation? There are two main tax components that make up a superannuation balance. These components are the Taxable Component and the Tax-Free Component (sometimes referred to as the Exempt Component). The Taxable Component is...
Feb 13, 2019 | Accessing Superannuation, Blog, Retirement Income Streams, Reversionary Pensions, Superannuation
This article discusses how a reversionary pension is treated for transfer balance cap purposes. A reversionary pension is a pension income stream that automatically reverts to another individual upon death of the original pension member. The term original pension...
Oct 3, 2018 | Accessing Superannuation, Blog, Contributing to Super, Death Benefits, Retirement Income Streams, SMSF, Superannuation, Superannuation Tax
This superannuation recontribution strategy calculator allows you to calculate the benefits of a recontribution strategy. Specifically, this recontribution calculator shows how the taxable and tax-free components are affected by the strategy. The benefits of a super...