Underpaying an SMSF pension could land you in serious tax trouble
There are eye-watering costs involved if a self-managed superannuation fund fails to make the correct pension payment or, worse, does not make any payments at all.
Most self-managed superannuation pensions are a flexible way to draw down super savings in retirement, but there are rules. Arguably one of the most important is that each year, the pension payments must meet a prescribed minimum level.
But what happens if the payment falls short? Or, even worse, no payment is made at all?
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Meg Heffron is managing director at SMSF specialist firm Heffron.
