News : Insurance

Insurance, Pensions, Tax

Life insurance has pension decision role

The ability for an SMSF member to receive a payout from a life insurance policy can favour making an income stream reversionary.

The ability for an SMSF member to receive a payout from a life insurance policy can favour making an income stream reversionary.

read more
Insurance, Superannuation

Thousands deprived of insurance cover

The unintended consequences of super reforms in 2019 mean thousands of people are missing out on millions of dollars in life insurance cover.

The unintended consequences of super reforms in 2019 mean thousands of people are missing out on millions of dollars in life insurance cover.

read more
Compliance, Insurance, Regulation, SMSFA

PI insurance not a fix for failures

Four associations have rejected the view professional indemnity insurance can fix sector failures and called for better regulatory enforcement.

Four associations have rejected the view professional indemnity insurance can fix sector failures and called for better regulatory enforcement.

read more
Insurance, SMSF

SMSF trustee insurance product released

An insurance policy that protects SMSFs and trustees from the impact of failures, fraud and regulatory action has been launched.

An insurance policy that protects SMSFs and trustees from the impact of failures, fraud and regulatory action has been launched.

read more
Auditing, Insurance

Auditor PI should cover all action

Auditors should check if their PI insurance covers legal action from both clients and regulators as some policies limit their claims.

Auditors should check if their PI insurance covers legal action from both clients and regulators as some policies limit their claims.

read more
Division 296, Financial Advice, Financial Planning, Insurance, SMSF, Superannuation, Tax

Revisit insurance set-up for Div 296

The treatment of insurance within an SMSF will need to be revisited as to determine the effect of policies on a member’s division 296 tax liability.

read more
Insurance, Regulation, SMSF, Superannuation

Birth date impacts bring-forward NCCs

Non-concessional contributions, Craig Day, Linda Bruce, Colonial First State, CFS,

The provisions allowing SMSF members to trigger the NCC bring-forward rules in a subsequent financial year are birth-date sensitive.

read more
ATO, Contributions, Insurance

Fund insurance proceeds get new treatment

Insurance proceeds, institute of Financial Professionals Australia, IFPA, Natasha Panagis, ATO, income Tax Regulations,

A new method to treat insurance proceeds received by a super fund has been unexpectedly included in draft Taxation Ruling 2010/1DC2.

read more
ATO, Insurance

Compassionate sum must be net of tax

Early payments made from SMSFs on medical compassionate grounds must have tax deducted before they are received by the relevant member.

Early payments made from SMSFs on medical compassionate grounds must have tax deducted before they are received by the relevant member.

read more

Copyright © SMS Magazine 2026

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.