When reviewing Ron’s ACC and Insurance Policy’s it become clear that ACC’s June 2010 classification changes could be employed. This meant that Ron could change his classification from Landscape construction to Architect a considerable saving, by changing him from Cover plus over to Cover plus extra resulted in his original levies for the 2010 tax year of $5190 being reduced to $1178.
Ron had a number of life insurances polices that had been in place for years, each year they increased in value. Over the years he had considerably reduced his debt and on review found out he had 8 times the life cover he needed. On the other hand he had nothing in place to protect his most important asset his future income. The majority of the life cover was canceled which was enough to fund his income protection policy, meaning if Ron gets sick he’s now got income to continue living.
“This meant that Ron could change his classification from
Landscape construction to Architect a considerable saving, by
changing him from Cover plus over to Cover plus extra resulted in
his original levies for the 2010 tax year of $5190 being reduced to
$1178.” Where I have been able to read about this?