Is Life Insurance Tax Deductible - Life Insurance

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Scrap fund changes, says IFSA: budget changes The Australian

21.04.10

"As a result, the caps will reduce the number of people that would otherwise be able to self-fund their retirement rather than rely, in whole or in part, on the age pension."

IFSA has asked the government to either raise the caps or introduce greater flexibility by permitting the use of averaging or by allowing the caps to be carried forward when people spend time out of the workforce.

It has also called for the proposed re-introduction of the government's $1.50 per $1 co-contribution matching rate to happen soon.

For financial advice, the association wants the cost of an initial meeting with a financial adviser to be tax-deductible.

Currently only ongoing advice, such reviewing asset allocation, is tax-deductible.

"IFSA believes that providing tax-deductibility for all financial advice is essential to maintaining and improving the affordability of financial advice and ensuring that any distortions are removed," the submission says.

Source:

Education Saving Strategies

Many parents consider college or university education important. In fact, statistics provided by the Government of Canada indicate that a high school graduation is three times more likely to  be unemployed than a university graduate.
If you are thinking of saving for your child’s education, here are five savings strategies you can use.

Source: Canadian Tax Resource

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