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Deductability of Fees - Insurance Premiums and Management Fees

Discussion in 'Accounting, Tax & Legal' started by archangelsupreme, 12th Feb, 2011.

  1. archangelsupreme

    archangelsupreme Well-Known Member

    7th Sep, 2007
    Hello friends,

    A general tax deductability question:


    1) Life Insurance Premium Fees within Super

    I'm a member of a staff super fund. Within this fund they give you general TPD and income insurance cover. There is a premium associated with this which i've seen on my online super account.

    Is this insurance fee tax deductible anywhere in the individual tax return?


    2) Management Funds - Management Fees

    I have a couple of management funds. They normally send you a tax statement each year which lists where you should place certain amounts (i.e. gains, international income..etc).

    However, as part of management funds - they also charge you management fees. This is not seperated in the annual tax statement the funds give you.

    Is this management fee tax deductible (i.e. add up all quarterly statement fees). Normally a few hundred dollars.