At the other end of the superannuation lifecycle, the ATO has recently announced that if a member of a fund does not take out the required amount of pension payments for the year as required, the pension member will lose the tax exemption on the investment earnings of the fund.

 

As a result, we suggest that anyone who is taking a pension from their super fund, confirm what their minimum pension withdrawal amounts are for the 2010 financial year and take it out prior to 30 June 2010. If you need to check these amounts for self managed super funds that we administer, please call Cathy Walley of our office.