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Business Owner?

Business Owner?

How to reduce your ACC Levies

 
Did you know there are 2 types of ACC cover?  One suits salary and wage earners, the other is for the self-employed and business owners.
 
Some of the benefits of a business owner being on the right ACC cover are:
 
  1. You know exactly what you’ll get paid by ACC at claim time.
 
  1. You have a wide degree of control over the ACC cover you take and therefore the levies you pay.
 
  1. You can drastically reduce your ACC levies.
 
  1. You can use levy savings to get full income protection cover so you are covered for accident and illness.  ACC does not cover you for illness.
 
  1. You can receive an ACC benefit on the income you have split between spouses.
 
  1. You will be paid 100% of your Agreed ACC benefit until you are working 30 hours or more per week.
 
  1. You will not be paying for an ACC benefit you will not receive when it comes time to claim.
 
  1. If you are new to business you can still be covered by an Agreed amount of ACC cover.
 
None of these above benefits happen unless you are on the right type of ACC cover for a business owner.
 
So how do you know if you’re on the right ACC cover?  That’s easy, if you have to ask that question then you are not!  Don’t beat yourself up about that, most self-employed business owners are not on the best ACC cover to meet their needs.
 
However the reality is ACC will not guide business owners in this regard because they are not permitted to give advice in this area.  There is a way to get professional guidance though to ensure you have the right ACC cover and that is to talk to a professional who specialises in this area.
 
Russell
 
Russell Johnson – Iconic Financial Ltd 
As one of New Zealand’s foremost and respected business risk management specialists he helps businesses achieve Stability, Certainty and Security through the effective identification and management of the risks that all business owners face simply by being in business.
 
This includes helping business owners restructure their ACC, helping a business survive the disability of a key person and ensuring the funds are available to purchase the shares from a deceased or disabled shareholder.