Division 296 Has Passed - Why Personal Injury Recipients May Be Exempt For Life

Division 296 Has Passed – Why Personal Injury Recipients May Be Exempt For Life

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Division 296 introduces a new tax on high superannuation balances, but individuals who make structured settlement contributions from personal injury compensation may qualify for a lifetime exemption. Understanding how these rules apply can make a significant long-term financial difference.
ABC News Australia

Andy Reynolds Featured on ABC News: Why Abuse Survivors Need Financial Guidance After Compensation

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Our founder and principal adviser, Andy Reynolds, was recently featured in an ABC News investigation examining how child abuse survivors are being required to repay Centrelink, Medicare, and private health insurance benefits out of their compensation settlements.
Queensland Police

A tax win for Queensland Police Officers receiving a TPD Claim

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Last week the ATO ruled in our clients favour, that our client's 'date of disability' to be used in the TPD tax-free uplift, should be the actual date that the person stopped being capable of employment due to disability and NOT the date that a doctor signs a report to confirm this.

Super TPD Claims & Financial Considerations – Webinar for Law Firms

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The purpose of this webinar was to explain what happens after a superannuation total & permanent disability (TPD) claim is approved, how the tax works and what are the financial considerations and consequences when the claimant completes their superannuation withdrawal form.

Super TPD claims and Child Support

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Will my superannuation TPD claim impact my child support payments? The answer is yes, the taxable portion of your superannuation withdrawal after a TPD claim being approved, is counted as taxable income, and will impact your child support arrangement.

$5,000 tax refund for TPD claimants

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Some TPD claimants will now be entitled to a $5,000 refund at the end of the tax year, if they have no other taxable income (and don’t have any other tax payments/deductions) thanks to recent changes in marginal tax rates.
claim multiple TPD policies

Can you claim on multiple TPD policies?

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With total and permanent disability (TPD) insurance cover, there is no limit on how many different policies a person may have, and then if they suffer and illness or injury and don’t expect to be able to work again, they can make a claim against all these policies.
Tax on TPD payout

Tax on TPD payout

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The TPD claim itself is not taxable, however, the subsequent withdrawal from the superannuation account will be taxable if the person is under age 60.

Successful TPD Claims

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This article aims to help you understand the different types of Total & Permanent Disability (TPD) insurance claims and the different financial implications following a successful TPD claim.

TPD Claim Stories

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We are a financial advice firm and talk to people all over Australia that are about to, or have recently had a superannuation TPD claim approved and wanting to understand the financial options and implications following a successful claim.