Accountants ‘at epicentre’ of growth in non-bank finance
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READ MORESMSFs cautioned on ‘antiquated rule’ with death benefit payments
SMSF clients should pay close attention to the two-lump-sum restriction for death benefits, as breaching this standard could have potential implications for how the payment is assessed.
Speaking in a recent webinar, DBA Lawyers senior associate William Fettes explained that sub-regulation 6.12(2)(a) of the SISR specifies that the payment of death benefits not in the form of a pension must comprise a single lump or an interim and a final lump sum.
Read more at SMSF Adviser
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