It’s vital to know what is and what is not a death benefit pension because the consequences of not paying the minimum pension payment on the wrong one could have dire consequences, a leading adviser said.
Tensions in the Middle East have rattled global markets. Both equities and bonds have experienced losses amid great uncertainty, and oil prices have spiked, creating a challenging dynamic.
As the establishment of new SMSFs continues to rise, the ATO is reminding potential trustees to ensure they are aware of the different requirements depending on whether their fund has individual trustees or a corporate trustee.
Super used to be clearly the “best” option due to low tax rates but the increasing complexity of things like Division 296 tax, compliance risk, and death benefits tax is narrowing that advantage, a top specialist said.