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Published on 29 Aug 13
by NATIONAL DIVISION, THE TAX INSTITUTE
Insurance is sometimes a “forgotten area” for SMSFs. This paper addresses the crucial role of insurance in SMSFs, by considering the following:
does insurance have a role to play in SMSFs?
can group life be offered to SMSFs?
what happens to insurance after commencement of an income stream?
is there a role for insurance in connection with an SMSF borrowing strategy?
deductions for premiums/assessability of insurance proceeds
insurance applications: life, disability, trauma, terminal illness, income replacement
tax effectively managing receipt of taxable component/element untaxed inthe fund
allocation of insurance proceeds to reserve and availability of tax deductionsfor death benefit payments.
Craig has been a senior member of the FirstTech team since 1999 and has over 12 years experience in the financial services industry. Besides representing Colonial First State at a range of industry and regulatory forums, Craig is actively involved in both course development and presenting for Kaplan and is a SPAA specialist adviser. Current at 14 May 2008
The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009.
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