" Yes My Accountant sent out a Form letter covering these new requirements. He said "insurance' for members was "compulsorary". "
Maybe you can ask your accountant what level of insurance the ATO is insisting on !!!!
I do not believe insurance is compulsory as it states that insurance must be considered.
Every member of every fund will have different requirements - we don't require insurance in our case and that is how it is reflected in our strategy detailed with the the rationale, and then minuted.
What the rules now mean is that insurance for members must be reviewed and considered on a yearly basis.
DYOR.
If you find that basic advice from your accountant is incorrect, incomplete or misleading, then it may be time for another review!
