The tax treatment of premiums depends on the type of cover and how it is structured.
For example:
- Income protection premiums are often tax deductible when held outside superannuation.
- Life, TPD and trauma premiums are generally not tax deductible when held personally.
Tax implications can vary based on ownership and structure, so personalised advice is important.
Other FAQs
The appropriate amount of life insurance depends on your individual circumstances. Factors typically considered include: Outstanding debts (such as a mortgage) Ongoing living expenses Income replacement needs Children’s education costs [...]
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Depending on your loan, penalty fees could apply if you’re paying off your current mortgage early. But these may be offset by repayment savings when you switch home loans. We’ll [...]
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Because Financial Advice is personal and no two situations are the same. Fees vary depending on your goals, financial position and the scope/complexity of advice required. You can see our [...]
Yes. Insurance can be held either inside or outside superannuation, and sometimes a combination of both is appropriate. Holding cover outside super may: Provide greater flexibility in certain claim situations [...]
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If you’re having a hard time saving for your first home, your family can help you with a cash gift to put towards your deposit A gifted deposit home loan [...]
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In many circumstances, yes. One of the unique features of SMSF commercial property investment is that an eligible business may be able to lease commercial premises owned by the SMSF, [...]
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Off-the-plan apartments are often pitched heavily at investors due to the tax* benefits that come with depreciation on new properties and rental guarantees. Tax savings will depend on your individual [...]
