Coming up to the new financial year, everyone talks about tax deductions, etc. One way of getting full value of your life insurance and income protection policies this year is to pay the premiums upfront.
Why would you do that?
Well, firstly, you receive the full deduction for this financial year, and;
Secondly, your premiums reduce by up to 10%.
If you pay your premiums through super, which many people do these days, you may contribute the amount into your super fund as a personal contribution depending on your circumstances.
Fore more information or advice on getting the most of your deductions from your personal insurances, have a chat with a broker on the details below:
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