Article published by RJS Wealth Management Pty Ltd
An anti-detriment payment enables the refund of contributions tax paid during a fund member’s lifetime, which is then paid as a lump sum to certain dependent/s (spouse, former spouse, child including adult child) of a deceased fund member.
From 1 July 2017, anti-detriment payments will no longer be able to be made.
What if I die before July 2017?
If a super fund member dies before 1 July 2017, then an anti-detriment payment is still possible up to 30 June 2019. From 1 July 2019, no anti-detriment payments are available for fund members who died before July 2017.
Superannuation can be complicated. To find out how these and other superannuation reforms affect you, what action you should take or to simply ask a question, contact an RJS Wealth Management Professional on 1300 256 526. In many circumstances, it may be ideal to take action now.
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