13. Insurances

(a) Income Protection Insurance

On 1 January 2018, Corey took out a 12-month sickness and accident insurance policy with Pinnacle Insurance to insure himself against the loss of income in the event of serious illness or an accident. He paid $2,000 for this policy. The policy was in respect of the period 1 January 2018 (12:00 am) to 31 December 2018 (11:59 pm).

(b) Concessional and Non-Concessional Personal Superannuation Contributions

Corey advises you that apart from the compulsory 9.5% superannuation contributions made by his employer, The Daily Mail into his AMP superannuation fund, during the 2018 income year he also made pre-tax salary sacrifice (ie. concessional) superannuation contributions of $6,800 into his complying superannuation fund.

This amount has correctly been reported by his employer on his 2018 PAYG Payment Summary as a reportable employer superannuation contribution (see Item 1).

Furthermore, in addition to these pre-tax superannuation contributions, Corey also advises you that throughout the 2018 income year, he made after-tax (ie. non-concessional) superannuation contributions of $2,600 into his AMP superannuation fund.

All of the relevant paperwork has been processed by the superannuation fund including acknowledging Corey's written intention to the superannuation fund regarding claiming these post-tax superannuation contributions as a tax deduction in his own personal tax return as well as the superannuation fund's acknowledgement.

All of Coreys pre-tax and post-tax cash superannuation contributions were received by AMP superannuation fund prior to 30 June 2018.

Details relating to the superannuation fund are outlined below:

Name of Superannuation Fund: AMP Superannuation Fund

Funds Australian Business Number: 39 780 311 675

Funds Tax File Number: 188 128 215

Coreys Account Number: 288471

Please identify any possible tax deductions for a and b