Technical Advice & Resources

Concessional contribution checklist

From 1 July 2017, eligible clients can claim a tax deduction for personal super contributions regardless of their employment status. The concessional contribution checklist will assist you in determining:

1. The available concessional contribution cap available to claim a tax deduction on personal, tax deductible contributions, and
2. Project future available concessional contribution amounts available with the 5-year carry-forward provision (commenced 1 July 2018 where any remaining concessional cap from 2018/19 is carried over to 2019/20).

Non-concessional contribution – Decision Tree

The non-concessional contribution decision tree can help you to determine your client's non-concessional contribution cap for the 2019/20 financial year. 

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COMPARISON OF INSURANCE PREMIUMS FUNDED INSIDE VS OUTSIDE OF SUPER

This guide can be used with clients to help them compare the value of $1,000 worth of premium and how much it will cost when paying with pre-tax dollars versus paying with after-tax dollars. Examples shown are a visual guide, comparing the gross cost at each individual tax rate. 

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Life and TPD Insurance Inside/Outside Super Comparison Table

The life and TPD comparison table compares the key factors to consider when owning life and TPD insurance inside/outside of super. 

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Super Life And TPD Insurance Tax Calculators

The super life and TPD insurance tax calculator will assist you in determining the tax payable for claims paid in the 2020/21 financial year:

1. By a non-tax dependant beneficiary (e.g. independent adult child) upon receipt of a super lump sum death benefit, and
2. By a super fund member upon receipt of a super lump sum benefit following permanent incapacity.

By knowing what the likely tax impost is, advisers will be able to more precisely gross up the sum insured for a given client scenario.
 

(Refer to disclaimer at bottom of page) 

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