A previous legislative technical defect in the operation of reversionary transition to retirement income streams (TRIS) has been resolved by the Treasury Laws Amendment (2018 Measures No. 4) Bill 2018.

Before the passing of this bill, if a recipient of TRIS, who was in pension phase, died and the reversionary TRIS was paid to reversionary beneficiary who did not qualify for retirement phase, the reversionary TRIS would cease to be in retirement phase. Following the legislative amendment, all reversionary TRIS’s will continue in or move into retirement phase upon the death of the original TRIS recipient.

To discuss this further or for more information please contact:

 Alasdair Woodford
Senior Associate
T: 03 5225 5217
E: awoodford@ha.legal