Is it tax time
again? We wish to remind members of our practice for several years now, where ASWF members will no longer receive individual letters advising the amount of contributions for the financial year.
Members will find the total amount of contributions listed in the last pay slip issued to you for the end of the financial year (not your PAYG statement), and 5/6ths is claimable on your tax return as a deduction.
Deductions can be claimed under Section D15 – Other Deductions as an Income Protection, Sickness and Accident Insurance Premium.
1/6th of your ASWF premium relates to the Death Benefit payable which is not claimable for tax purposes. Of course, when all else fails.. we can help! call us on 8340 1800