Future Service Benefit
Section 295-470 of the ITAA (Future Service Benefit) allows a Fund to claim an income tax deduction on the payment of: 1. a superannuation death benefit; or 2. a terminal illness benefit; or 3. a disability superannuation benefit or 4. a temporary incapacity income stream. The deduction, also known as the Future Liability deduction, is available irrespective of whether the benefit...