In this episode of the DBA Lawyers Podcast, Zacharia Galloway, Lawyer and William Fettes, Senior Associate, discuss family law superannuation splitting in respect of SMSFs.
Where a relationship breakdown occurs, special attention must be given to the splitting of the superannuation benefits as there are quite a number issues to consider. In this episode, William provides a brief overview of how superannuation splitting works in the context of SMSFs.
Zac and William discuss the different approaches to superannuation splitting orders (eg, base amount or percentage interest split) and how a combination of the approaches can be used in order to achieve the desired outcome. They then discuss what can go wrong when planning a superannuation split, the consequences of not complying with a splitting order and briefly discuss other tax and CGT considerations.
They also address a client’s query regarding whether a reversionary pension can be paid to a former spouse in the situation where the client no longer has a spouse.
William will be presenting DBA Network Pty Ltd’s SMSF Online Update on 16 April 2021 and will be discussing this topic in detail. To register, please click here.
For a chance to have your SMSF query addressed on the show, please send your questions to [email protected].
Related articles and links below.
Hosts (in order of appearance): Zacharia Galloway, Lawyer and William Fettes, Senior Associate
30 March 2021