Can in-specie benefit payments be made from a pension account?

The ATO’s recent determination SMSFD 2013/2 has offered SMSFs a “green light” to pay “in-specie” benefits to members. This has changed the traditional view that “in-specie” benefits cannot be paid from pension accounts. However, there are still some conditions that trustees need to watch for, which has been summarised as follow:

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Reliance Auditing Services is a specialist independent auditing services firm providing quality audits to SMSFs, companies, not-for-profits and AFS licensees all over Australia. Reliance Auditing places a huge emphasis on educating our clients to ensure they fulfil their reporting obligations.Call: 1300 291 060 or email info@relianceauditing.com.au.

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