SMSF Estate Planning under the new reforms | February 2018

Knowledge Test

Knowledge Topics

SMSF Estate Planning under the new reforms

From 1 July 2017, the introduction of the transfer balance cap (TBC) impacted the amount of capital that an individual could use to support an income stream in retirement phase. The TBC also applies to death benefit income streams and therefore changes the way we must think about estate planning.

Briefly, the changes will now force amounts of superannuation to leave the system, earlier and larger than in the past, upon the death of a member. Therefore, members must have an estate plan set up early to ensure their death benefits go where they intend.

We recommend that you gain the advice of an SMSF Specialist. To find your nearest SMSF Specialist, use our Find a Specialist function.

If you are not yet a member of the SMSF Association Trustee Knowledge Centre, become a member today to access a wide range of benefits including key SMSF resources, updates and exclusive offers. If you are a member, please login to access this content.

Become a member