Posted in SMSF
Do you have any Lost Money or Lost Super?
Posted
on 9 September 2013
Unclaimed Money
The Australian Securities and Investment Commission (“ASIC”) hold the federal records for all unclaimed monies.
Unclaimed money can originate from: Banks and other Authorized Deposit-taking Institutions; Life Insurance companies and Benefit Fund Friendly Societies; First Home Saver Accounts; Companies with unclaimed money such as resulting from the liquidation of a company.
Money is transferred to the ASIC un...
The Australian Securities and Investment Commission (“ASIC”) hold the federal records for all unclaimed monies.
Unclaimed money can originate from: Banks and other Authorized Deposit-taking Institutions; Life Insurance companies and Benefit Fund Friendly Societies; First Home Saver Accounts; Companies with unclaimed money such as resulting from the liquidation of a company.
Money is transferred to the ASIC un...
Posted in:SuperannuationData MatchingCashCash flowStrategy2014SMSFAdmin | 1646 Comments |
Superannuation Binding Death Benefit Nominations
Posted
on 22 June 2013
Following the death of a member of a super fund the trustee is responsible for administering the members balance by way of payout to beneficiaries or by allocating to a reversionary pension.
To remove this uncertainty we recommend that members consider a Binding Death Benefit Nomination.
Many of our funds have non-binding nominations in place that can be used by the trustee as a guide when distributing death benefits. The problem is that ultimately with a non-binding nominatio...
Posted in:SuperannuationNominationSMSFBDBNBinding Death Benefit NominationsPlanning2013TrusteeMemberBeneficiaryAdmin | 4 Comments |