What happens when it’s time to exit the SMSF due to the death of the remaining member? Is there a way to do it tax effectively and efficiently? This session provides tips and traps around winding up or vesting a self-managed superannuation fund, including:

• Check the trust deed:
  • What provisions do you need to look for in relation to winding up the fund?
• Withdrawing money before death to avoid the death benefits tax:
  • Does the trust deed permit?
  • When is it worthwhile?
• Paying out or rolling over superannuation:
  • Do beneficiaries satisfy a condition of release?
  • Can assets be transferred in specie to beneficiaries?
• Satisfying any liabilities
• Compliance obligations
  • Completing the final SMSF audit
  • Completing the final SMSF annual return and paying any outstanding taxes

Nicholas Ali, Executive Manager – SMSF Technical Support, SuperConcepts, Melbourne

This webinar is suitable for accountants advising in superannuation matters – Australia wide. FASEA – category “Technical Competence” – 1 hour. This webinar is for practitioners with some knowledge in this area and looking to improve their knowledge.

Accountants can claim up to 1 CPD/Training hour.  This webinar has been designed to run for 1 hour, however, webinar lengths can vary depending on the level of questions and discussion.