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Albany and the Great Southern
Local, personable and assured legal services - Albany and the Great Southern

What does an interdependency relationship mean when paying superannuation tax-free?

The recent Federal Court decision of Williams v IS Industry Fund Pty Ltd [2016] FCA 524 provides some clarity on this question. The Deceased was a man of 31 years  with no spouse or children. The trustee of the Super Fund, when payment the death benefit (which included significant insurance) considered that the father was not [...]

By | 2019-02-05T05:57:09+00:00 December 10th, 2018|Administration of Estates, Springdale News|Comments Off on What does an interdependency relationship mean when paying superannuation tax-free?

Can super proceeds be paid to an Estate then a dependant and still remain tax-free?

The answer is yes. Section 302.10 of the ITAA 1997 is entitled Superannuation death benefits paid to trustee of deceased estate. It applies to you if: you are the trustee of a deceased estate; and  you receive a superannuation death benefit in your capacity as trustee.   To the extent that 1 or more beneficiaries of the estate who were  death benefits dependants of the [...]

By | 2019-02-05T06:07:51+00:00 December 4th, 2018|Administration of Estates, Springdale News|Comments Off on Can super proceeds be paid to an Estate then a dependant and still remain tax-free?

Capital Gains in a deceased estate…

As a general rule, the trustees and beneficiaries of a deceased estate are able to disregard any CGT implications from the sale of a deceased person's principal residence, provided the sale of that property settles within two years of the deceased's death. The ATO has been very strict on this rule as part of the [...]

By | 2019-02-05T06:25:23+00:00 September 13th, 2018|Administration of Estates, Springdale News|Comments Off on Capital Gains in a deceased estate…