If you become disabled for any period of time, who would maintain your business? Would a locum generate the same amount of income as you do ? Or would you be faced with the prospect of watching your ongoing expenses eat away at your income?

All self employed people and small business owners have a number of on going fixed expenses, such as rent, loan repayments, rates, SGC super payments, leasing commitments, .... just to name a few.

Unfortunately, even though you may be forced to stop working for a while, the ongoing fixed expenses of your business will still have to be met on a regular basis.

Tax Deductibility:- The cost of your business insurance policy will generally be an allowable deduction as an expense of the business, under section 51 (1) of the income tax assessment act. This means that the net cost to your business for this type of cover is reduced accordingly.

If you are the policy owner, this deductibility applies regardless of whether you are self employed or an employed person.

The above tax information is a general statement only. it is based on the continuance of present tax laws and their interpretation. Individual circumstances may differ from this general statement. We recommend that you discuss any questions that you might have with your tax advisor. 

Some Key Features of Fixed Business Insurance

  • Guaranteed Renewable.
  • Cover for fixed business expenses.
  • Locum cover.
  • Provision for fluctuating expenses.

Insurance Analysis If the insurances described on these pages are of interest to you don't hesitate to contact New Wealth Directions to provide an Insurance quote for you. If you already have Insurance, we can do a review of your current Insurance policies. Usually we can save 30 - 40% from your current premiums.