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The benefits of a binding death nomination

Posted on Jul 29, 2015 by editor

Signing a binding death nomination can help your beneficiaries make the most of tax savings in super.

A binding death nomination compels your super fund’s trustees to direct your super to the chosen dependent beneficiary upon your death. It also means your beneficiaries can receive any assets within the tax-effective structure of super. This is especially relevant for surviving spouses, so they can continue to receive tax-free income streams or superannuation payout upon death.

Those who do not sign a binding death nomination will most likely have their super passed to the beneficiaries at your will’s direction, which can result in assets falling outside the taxation structure of super.

Those who do elect to sign a binding death nomination will need to update it every three years unless they have a non-lapsing nomination. Non-lapsing nominations are available in some newer trust deeds, and can be helpful for looking after dependent children.

ATP Accounting knows what it takes to run a successful business. They will position you at the cutting edge of business growth.
Take the step and get help to grow your business, minimise tax and protect your hard-earned assets.
Call us today on (02) 8850 3888, send us an email to or send us a message here.

The benefits of a binding death nomination The benefits of a binding death nomination The benefits of a binding death nomination The benefits of a binding death nomination The benefits of a binding death nomination

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