Your clients will receive their Tax Notices, where possible, via email or alternatively via post. These letters will be available on your AIA Adviser Site for your convenience.
 

Tax Notices will display total premiums paid during the 2022/23 financial year together with the proportion attributable to benefits deemed to be for insurance against the loss of employment income. Any alterations or payments requested close to 30 June 2023 may not be reflected in this year notice.

 

For each respective IP Plan, this proportion has been determined in accordance with the formula set out in the table below. 

Please note that where the sum insured has been increased by non-tax deductible portions as listed in the table above, the premiums for the non-tax deductible benefits have been excluded before applying the deductible percentage relevant to the premium for each benefit. 
 

Should you, or your client, have any questions about the taxation implications of the information in the Notice, please seek specialist taxation advice or contact the Australian Taxation Office on 13 10 20. 

If you have any further questions, please don’t hesitate to contact your Client Development Manager or the Sales Support Team on 1800 033 490, Monday to Friday, excluding public holidays