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Exposure Draft - Terminal Medical Condition Insurance Premiums – Income Tax Deductibility by Funds and Retirement Savings Account Providers

Date:

Friday, 9 July 2010

Content ID:

1855

Abstract:

As part of the 2010-11 Budget, the Treasurer announced an amendment to the tax law to allow superannuation funds and Retirement Savings Account (RSA) providers to deduct the cost of providing terminal medical condition benefits to fund members and RSA holders. Legislation has been developed to give effect to this decision through an amendment to the Income Tax Assessment Act 1997.

Making a submission

Interested parties are invited to comment on the exposure draft legislation, explanatory material and discussion paper. While submissions may be lodged electronically or by post, electronic lodgement is preferred. For accessibility reasons, please submit responses sent via email in a Word or RTF format. An additional PDF version may also be submitted.

All information (including name and address details) contained in submissions will be made available to the public on the Treasury website unless you indicate that you would like all or part of your submission to remain in confidence. Automatically generated confidentiality statements in emails do not suffice for this purpose. Respondents who would like part of their submission to remain in confidence should provide this information marked as such in a separate attachment. Legal requirements, such as those imposed by the Freedom of Information Act 1982, may affect the confidentiality of your submission.

Closing date for submissions: Friday, 30 July 2010

Address written submissions to:
Manager
Superannuation Benefits & Regulation Unit
Personal & Retirement Income Division
The Treasury
Langton Crescent
PARKES ACT 2600

Email: SuperAmendments@treasury.gov.au

For enquiries, please call Louise Lilley (02) 6263 3327 or Adriana Siddle (02) 6263 3373.

Documents Available:


Acrobat (PDF) documents

 Acrobat (PDF)

Exposure Draft  14.65kb
Explanatory Material  226.11kb

Microsoft Word (RTF) documents

 Microsoft Word (RTF)

Exposure Draft  73.71kb
Explanatory Material  208.30kb

Related Items:

Submissions: Exposure Draft - Terminal Medical Condition Insurance Premiums – Income Tax Deductibility by Funds and Retirement Savings Account Providers - 25/11/2010

Treasury received two submissions in response to the exposure draft on Terminal Medical Condition Insurance Premiums – Income Tax Deductibility by Funds and Retirement Savings Account Providers. One of these is a public submission and one is confidential. The public submission is listed below and is accessible by selecting the author.

The opinions expressed in the submissions are those of the authors and do not necessarily reflect the views of the Government or the Treasury.

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