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ARTICLE · 08 SEPTEMBER 2013

When a superannuation pension commences and ceases - ruling

Moore Australia
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The ATO published a ruling about "starting and stopping a new superannuation income stream" (a superannuation pension).

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The ATO has published a Ruling about "starting and stopping a new superannuation income stream" (i.e., a superannuation pension).

The Ruling applies to complying superannuation funds (including SMSFs) which commence an 'account-based pension', including a 'transition to retirement pension', and focuses on when a pension commences and when it ceases and, consequently, when a pension is payable.

These concepts are relevant to determining the income tax consequences for both the superannuation fund (including the availability of the pension exemption) and the member in relation to superannuation income stream benefits paid.

The ATO states there has been a lot of interest as to when a pension ceases, and the most common circumstances for a pension ceasing are summarised as follows:

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