Tax Paid Bonds

As an Adviser, are you looking for Estate Planning solutions for your clients? Di Ranger, National Sales Manager, Financial Services at KeyInvest, gives an overview of just how simple & effective Tax Paid Bonds can be in this space.

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Exempt Asset Limit remains unchanged at $13,500

From 1 July 2021 the Funeral Bond exempt asset limit remained at $13,500. Funeral Bond holders can have up to $13,500 of contributions in a Funeral Bond and the whole balance is exempt from the Age Pension asset and income tests. Conditions do apply, so contact KeyInvest or Centrelink for more information.

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New Legislation Regarding Consent To Deduct Advice Fees

From 1 July 2021, an Advice Fee Consent Form must accompany all new business applications for the Life Events Bond and Funeral Bond that have ‘ongoing advice fee’ arrangements.

The Royal Commission made recommendations to introduce annual renewal of ongoing fee arrangements and a requirement that advisers cannot receive ongoing advice fees without first obtaining consent from their client.

Below are links …

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