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Re: Income protection

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Newbie

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This is such a great service. Thank you guys at the ATO.

My question is about income protection, and can you claim anything from my yearly premiums I’ve payed?

Thanks Keith.
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ATO Certified

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Hi @Keithdorman76

 

Welcome to the ATO Community page.

 

Generally yes, provided the policy isn't held in a superannuation environment.

 

Check out this page.

 

Thanks, Michael.

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ATO Certified

Megastar

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Hi @Keithdorman76

 

Welcome to the ATO Community page.

 

Generally yes, provided the policy isn't held in a superannuation environment.

 

Check out this page.

 

Thanks, Michael.

Taxicorn

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As long as the income protection is for re-imbursing you for lost wages and not for a disability type payout then they are 100% deductable.

 

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