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ARTICLE · 27 JULY 2013

Super funds keep pension exemption after death

Moore Australia
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The law now provides certainty for deceased estates when a person dies while receiving a superannuation income stream.

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The government has made amendments to "provide tax certainty for deceased estates in situations where a person has died while in receipt of a superannuation income stream".

Broadly, a superannuation fund is entitled to a tax exemption for income that supports the payment of superannuation income stream benefits (i.e., superannuation pensions).

Under the amendments, where a complying superannuation fund member was receiving a superannuation income stream immediately before their death, the superannuation fund will continue to be entitled to the earnings tax exemption in the period from the member's death until their benefits are cashed:

  • by paying them out as a lump sum; and/or

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