Variability of season is an unfortunate factor that farmers are faced with. Fortunately over the last few years there has been a tool introduced to the Australian market to lessen the loss occurring due to seasonal variability – Multi-Peril Insurance. In general terms Multi-Peril Insurance (MPI) is an insurance policy taken out to mitigate risk […] Read More
GST on insurance claims
A common question we are often asked is about GST on insurance claims. This comes about when clients are completing their insurance claim form, where there are questions as to the ability to claim Input Tax Credits (ITC). The questions refer as to whether the business is registered for GST and if so, what percentage […] Read More
Private Health Insurance, know your Gap
As Accountants we often end up discussing private Health insurance for the taxation-based reason of reducing the Medicare Surcharge Levy (1% additional tax). Another reason that under 30’s buy Private Health insurance is to lock in at the ’30 year old’ rate for life. (It gets progressively more expensive after age 30). Although these are […] Read More
Are you a Contractor? Do you have Income Protection?
This blog is covering a topic that I have no doubt has been blogged before. The reason I am bringing it up again is that I have witnessed a stark reminder of the need for Personal Insurances. I have observed a situation of a worker being injured and being unable to work for a period […] Read More
Why You Should Consider Life Insurance…
Over the last couple of years but in particular the last couple of months, the relevance of life insurance has become even more prominent. I have had close friends, clients and relatives (none of them at an age that would be considered “old”) all suffer serious illnesses with potentially devastating long-term consequences. All of which have […] Read More
Insurance: Have you got your priorities right?
Insurance is often a grudge purchase, whether it be insuring personal assets, your business or personal risk insurances such as Life or Total Personal Disability etc. Many people will have insurance on belongings such as their cars and houses paying thousands of dollars a year for cover, either by choice or due to lenders requiring […] Read More