There are strategic reasons why you might not claim a tax deduction on life or Total and Permanent Disability (TPD) insurance premiums within an SMSF, particularly related to how it impacts the tax components of a superannuation death benefit — specifically the untaxed element.
We will look at the basic concepts and then look at an example.
To read this fact sheet in its entirety download the PDF version here.
The ability to bring-forward future year entitlements to make non-concessional contributions has been in place for many years now. Prior
From 1 July 2017 a cap was introduced to limit how much can be transferred to a retirement phase pension
The General Transfer Balance Cap (GTBC) was introduced from 1 July 2017 and is a cap on the how much
An individual’s Transfer Balance Cap (TBC) and Total Superannuation Balance (TSB) are calculated differently and are separate concepts. When the
AFSL 485643
Copyright © 2019 – 2020 SuperGuardian Pty Ltd ABN 57 113 986 968
Liability limited by a scheme approved under Professional Standards Legislation
