FSC joins calls for tax deductible adviceBY MARK SMITH | MONDAY, 10 FEB 2014 12:15PMThe Financial Services Council (FSC) has recommended the government implement tax deductions for those seeking financial advice. Related News |
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It was during a family sojourn to the seaside town of Pescara, Italy, Rob DeDominicis first laid eyes on what would become the harbinger of his future. Andrew McKean writes.
On what basis shoud up front fees relating to advice on, say, life insurance and superannuation funds be deductible?
If these organisations are looking to make the cost of advice more palatable for lower income families, a deduction is going to have minimal impact. What will be better is some form of tax offset, which has greatest benefit for low income earners.