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Draft Regulations - Streamlining Deductions for the Cost of Disability Insurance through Superannuation


Wednesday, 3 August 2011

Content ID:



Amendments to the Income Tax Assessment Act 1997, contained in the Tax Laws Amendment (2011 Measures No. 4) Act  2011, streamline the process for claiming tax deductions for the cost of total and permanent disability (TPD) insurance provided through superannuation.  Specifically, the amendments provide for the percentage of certain TPD insurance premiums (or the cost of self‑insurance) that is deductible to superannuation funds to be specified in regulations.

The attached draft regulations contain the deductible percentages for certain TPD insurance premiums, and the definitions of the associated TPD insurance policies.

Making a submission

Interested parties are invited to comment on the draft regulations. While submissions may be lodged electronically, by post or by facsimile, 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 12 August 2011

Address written submissions to:
Benefits and Regulation Unit
Personal and Retirement Income Division
The Treasury
Langton Crescent

Fax: (02) 6263 4471

Email: SuperAmendments@treasury.gov.au

For enquiries, please call Adriana Siddle on (02) 6263 3373 or Michael Dalton on (02) 6263 3713.

Documents Available:

Acrobat (PDF) documents

 Acrobat (PDF)

Explanatory Memorandum  88.92kb
Exposure Draft  161.57kb

Microsoft Word (RTF) documents

 Microsoft Word (RTF)

Explanatory Memorandum  108.07kb
Exposure Draft  385.57kb

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