Services
At Bechini & Associates we aim to provide you with advice when you need it, not just when you ask for it.
We can help you manage every aspect of you business & financial affairs. And as we establish a one-on-one relationship with each of our clients, our advice is tailor-made for your business.
We have developed our traditional accounting services into innovative client-focused services. Our flexibility and adaptability ensure we help you get the best results whether it be tax, business or financial matters.
Listed below are the services we offer and our team of friendly staff are happy to talk about any services not listed here that you might require.
Tax & Accounting Services
- Bookkeeping/Accounting
- Budgeting
- Business Start-up
- Cash Flow Forecasting
- GST
- Management Consulting
- Office Duties
- Payroll Services
- SMSFs start up
- Software Solutions
- Strategic Planning
- Taxation
We can relieve you and your staff of the enormous burden of all your bookkeeping and accounting needs, such as the preparation of your annual accounts and periodic management accounts for tax, business appraisal, and planning purposes.
We will discuss with you your requirements and provide relevant information to your particular situation, as well as constructive advice, all on a regular basis.
A budget is a necessity in a good business plan. It is one of the best business tools you can have, enabling you to set financial targets and measure your performance.
In addition to helping with goal-setting, budgets will improve your chances of acquiring funding. Banks often require budgets as a prerequisite for funding approval.
The techniques we utilise to form financial projections enable you to consider future scenarios and provide you with goals to strive for in your business.
Let us show you how a budget can provide feedback that helps you prepare for the future of your business!
If you have a good idea for a new business venture but don't have expertise in the legal or financial aspects of creating a new business, we can help you:
Decide on the most suitable structure for your business (should it be a Sole trader, a partnership, or a limited company )
Prepare a business plan with cash flow projections, budgets, & trading forecasts
Assess your finance needs, provide advice on the best sources of finance, and draw up the necessary proposals as well
Establish a good working relationship with your bank
Register for an Australian Business Number with the ATO
Complete registration procedures with the Australian Securities and Investments Commission
Deal with company secretarial issues
Set up a recording system for your internal use and for complying with statutory requirements
Let us help you turn your business venture idea into a reality!
Surviving in today's business world requires you to spend time working on your business and not just in the business.
We can provide you with accurate, timely, informative cash flow forecasting reports that enable you to:
Realise and understand when cash is available
Plan and prepare for expansion, stock control, and taxes
Analyse and anticipate key expenses
Once you have this information, we'll work with you to develop an action plan that will improve your bottom line.
The GST system is complex and can be confusing. At Bechini & Associates we keep up to date with any GST changes, enabling us to offer you accurate advice.
Every transaction can have an associated GST issue. We are experienced in these issues and can offer expert advice on the GST implications for your business. The GST-related services we offer include:
Advice on registering for GST Filing and adjusting GST returns ATO audit assistance
Our aim is to ensure your business achieves the potential it is capable of. We have helped many business make better business decisions and help them run there business more effectively.
We are experienced in acting as a sounding board for management, bringing years of experience in business growth to the relationship. We can identify key performance indicators in your business, which will help you make positive changes to improve your business.
We will check that your business is as competitive, focused, and profitable as it can be, and then offer flexible strategies, designed to address the issues that matter to your business.
So let us give your business a health check! Take the practical advice we can provide to see how your business can fly high.
Here at Bechini & Associates we understand that day-to-day office duties are not everyone's favourite activity and so we are happy to do some or all of the following services:
Processing wages
Paying creditors and processing payments
Collecting and banking debts
Various other admin tasks
Paying your staff can be time-consuming and can divert you from your core business activities. And payroll & employment laws are complex & often change.
We can remove you of this burden by providing a comprehensive & confidential payroll service that includes:
Customised payslips
Administration of PAYG, statutory sick pay, and annual leave
ATO filing
Summary and analysis of staff costs
Administration of bonuses schemes and termination payments
Even if you only have a few employees, you will save by engaging us to administer your payroll.
There are several laws and legal requirements for setting up a self-managed superannuation fund (SMSF). Typically you need to:
Create a trust deed (rules for the fund)
Appoint trustees (to run the fund, should it be a company structure or individuals)
Sign trustee declarations
Apply to become a regulated fund
Obtain a TFN and an ABN
We can provide the professional advice you need to set up your own fund and greatly simplify the process for you.
A decent accounting system will help you keep track of your cash flow and make completing GST returns easy. Choosing the right system for your business can be difficult as there many different accounting packages available.
At Bechini & Associates we can recommend the best accounting software solution for your business. Let us help you make the right choice of accounting software!
The pressures of running your business can often mean strategic planning takes a back seat, but to have a successful business it is vital to plan ahead. We willl help you develop a strategic plan that examines where you want your business to be in the next 3-5 years and exactly how you can achieve these aims and objectives.
Your strategic plan will:
Define where you want your company to be in the next three to five years
Identify your competitors
Define your objectives and financial goals
Include an implementation strategy to achieve your goals
At Bechini & Associates we offer a full range of taxation services. Our accountants are experienced taxation consultants with nationally recognized accreditation and so we are able to give you advice to minimise your tax.
We provide a complete service of assistance and advice in each of these areas:
Preparing activity statements and advice on tax payments
GST/FBT obligations
Advice & implementation of tax effective trust structures for asset protection and tax minimisation
Managing any ATO audits or disputes
Specialist Services
- Company Secretary
- Estate Planning
- Rental Property
- Risk Management
- Selling a Business
- Succession Planning
- Trusts
- Home & Business Loans
- Equipment Finance & Leasing
- Superannuation (incl. SMSFs)
- Financial planning
- Retirement Planning
- Wealth protection
- Life insurance
- Income protection
- Trauma & TPD cover
Company laws require businesses to perform several admin tasks that take up a lot of valuable time. The last thing you need as a business owner is to be stressed out trying to ensure you comply with the various Laws concerning companies. The threat of penalties for failing to keep up with the changing rules is too great a risk to take.
At Bechini & Associates we can relieve this burden for you. Our services include:
General advice on company law
Company formations
Filing annual returns on your behalf
Preparing all documentation related to minutes and resolutions
Maintaining statutory books
Assistance with changes of directors, shareholders, addresses, and office details
Share transfers
Registered office facility
Please contact us for further information on how we can help you get back to running your business.
As unpleasant as the task is, estate planning (what to do with your assets if you pass away) is one of the necessities of life. Knowing your hard-earned assets will be dealt with in the manner you choose can provide you with peace of mind. Plus it will make things easier for the loved ones you leave behind.
And for business owners, a plan for succession of ownership is essential. We can guide you through the process of providing for the continuation of your business.
When it comes to wills, the executor and trustee are required to perform a number of duties.
The areas in estate administration that we can assist with include:
Meeting to discuss objectives for your estate
Confirming assets — Valuations, inventories, and appraisals
Court approval for a grant of administration
Documentation involved in estate planning
Protecting assets
Paying taxes & debts
Distribution of the estate assets
At Bechini & Associates we have the expertise required to assist you in a variety of areas relating to your investments in residential and commercial property.
The services we offer include:
Advice on purchasing a property (include projections for revenues & potential growth)
Reviews of lease or rental agreements
Advice on how to fund your purchase
Advice on how to reduce your tax on
Advice on the most appropriate ownership structure
Periodic reviews to ensure your returns are maximised
Contact us today for more information on how we can assist you in the business of rental properties!
A huge number of risks exist in today's business environment. At Bechini & Associates we pride ourselves in our ability to accurately assess risk and protect you from potential risks in your business. An effective risk management strategy improves the performance of your business, enables you to complete goals, and protects the value of your business.
Our risk assessment includes:
Gathering relevant information about your business
Identifying the major risks facing your business
Developing a risk strategy
Implementing risk management procedures
Selling a business can be a difficult time and the tasks involved can seem particularly tough and complex. At Bechini & Associates we take the unwanted burden from you.
The services we provide for preparing to sell a business include:
Obtaining comparative results to establish a realistic sale price
Taking the business to the market
Negotiating with potential purchasers
Drafting a contract
Our friendly, professional team will help you obtain a maximum return for your business.
To ensure the long-term success of your business, it is critical to establish a well-designed succession plan. Coordinating the transition of your business to your successors can be a difficult process. However, with our years of experience we can address the complex issues of business continuation, take the stress away from you.
Contact us for more information about forming a plan that results in a hassle-free continuation of your business!
A trust provides a valuable way to protect the assets you have accumulated for the benefit of others. Our extensive experience with trusts enables us to offer specialist advice on forming trusts and ensure all the legal requirements are met. Obligations for trustees can often be difficult, and our assistance in trust admin can prove invaluable.
We can assist with:
Preparing and executing the documents required for trust formation
Attending to the special requirements involved in reporting for trusts
Completing the trust admin:
Minute-keeping service
Annual accounts
Taxation
Asset management
Investment monitoring
Income distribution
Contact us today to ensure your trust is formed and administered as effectively as possible, covering all legal requirements and guaranteed to fulfill its purpose!
Financial Services
We can assist you to arrange Home, Investment and Business loans via our referral partners. This might be for the purchase or refinance of your new home, an investment property or commercial property, purchase of a business, debt consolidation, or even borrowing within a Self Managed Super Fund. And since we are accountants we can help with the structuring of the loan to maximise tax advantages
Please contact Sandro or Peter should you wish to discuss you financing options further. See also the section on Leasing and Equipment finance for other business finance needs.
Making the decision to lease business equipment could have a noticeable effect on the success of the business, so it is a choice worth considering with an adviser – and even worth the time for established business owners to re-consider as well.
Leasing (or ‘asset finance') is a way of purchasing equipment, machinery or other assets without having to pay the full amount upfront. You are essentially paying a regular amount to ‘rent' the equipment from the ‘lessor.'
Almost anything can be leased or purchased as long as the asset will be used more than 50% of the time to earn assessable income (for a business prurpose). This includes vehicles cars, utes, trucks, tractors etc), computers, machinery and other types of equipment.
Applicants for a lease can be Companies, Individuals, Trusts, Partnerships, or Independent Traders.
You must have home equity and produce tax returns for the last two years for your business to be eligible.
Leasing through us can help you:
Free-up capital – Why buy equipment and pay the entire cost upfront when it could take years to reach its full earning potential? We can arrange leases with repayment terms suited to your needs.
Avoid inflation and currency movements – fixed repayments / rentals allow you to purchase equipment at today's prices and precisely plan your future budget.
Save time and money – we will compare quotes (and ensure there are no hidden fees) and do all the paperwork for you so you can obtain finance within days.
Pre-approved credit limits can also be arranged .
Maximise your depreciation and tax deductions - We will look at your business's overall circumstances to structure an equipment finance option that will help you minimise your tax bill and maximise your profits.
Claim back the entire GST quickly in your next BAS – We can advise you on the most tax-advantaged way to claim back the GST on the asset, quickly and efficiently.
What are the advantages of leasing?
It allows you to acquire assets with minimal initial expenditures and often without an upfront deposit.
Leasing can be a convenient way to reduce equipment expenses paid by the partners of a joint venture.
Your lease payments are usually tax deductible to your business which can often reduce the net cost of the lease.
Leases are usually easier to obtain and have more flexible terms than loans for buying equipment. This can be a significant advantage if you have bad credit or need to negotiate a longer payment plan to lower your costs.
Equipment that needs to be updated, like computers, can simply be replaced for new, higher-end equipment after your lease expires. This can help your business keep up-to-date with the latest technology.
Super & Retirement planning – superannuation, income streams, Centrelink entitlements;
Debt management – home and investment loans, loan refinancing, equipment finance for businesses and consumers; and,
Tax planning strategies – strategies to reduce the tax you pay and build your wealth.
Investment reviews - Successful investors know that the only way to ensure they achieve their personal financial goals is to regularly review and fine-tune their investments. Not having your investments regularly reviewed can cost you thousands of dollars in unnecessary taxation, poor performance and missed opportunities. That's why we offer an investment review service.
Even if you think your plan and investment strategy is effective, let us review it. We may just surprise you. We are uniquely qualified to give tax-effective wealth creation advice and look to for ways to help you reach your goals sooner.
We can review your:
Superannuation strategy – ensure you are saving enough for a comfortable and financially secure retirement;
Investments – analyse what can be done better;
Review your insurance needs to ensure your wealth creation strategy is protected; and,
Identify any financial risk areas not meeting your wealth creation goals.
Pay less tax
As we are are also professional accountants, we are well-qualified to provide you with specific advice on the best way to minimise the tax on your investments.
Practical Wealth Solutions Pty Ltd (formerly the financial planning arm of Bechini & Associates) is a Corporate Authorised Representative and Corporate Credit Representative of Securitor Financial Group Ltd.
Peter and Sandro are Authorised representatives of Securitor.
Securitor details are:
ABN 48 009 189 495. AFS & Aust. Credit Licence Number 240687.
A financial plan is the best way to make sure your finances meet your immediate and future needs. A financial plan outlines your goals and how you will financially achieve them. It can include an analysis of your financial situation covering your income, debts/loans, spending habits and level of current savings. A review of your wealth protection needs and ensure you are adequately covered. Tax-effective wealth creation strategies using investment vehicles, tailored to your individual financial needs. Retirement planning strategies to maximise your superannuation and ensure you save enough for a comfortable retirement.
You don't need to wait until tax time to do a financial plan. Contact us and start your financial plan now!
Bechini & Associates offers advice on a wide range of financial needs including:
Wealth creation – investing, platforms, managed funds, share trading;
Wealth protection – life, TPD, trauma and income protection insurance;
Super & Retirement planning – superannuation, income streams, Centrelink entitlements;
Debt management – home and investment loans, loan refinancing, equipment finance for businesses and consumers; and,
Tax planning strategies – strategies to reduce the tax you pay and build your wealth.
Investment reviews - Successful investors know that the only way to ensure they achieve their personal financial goals is to regularly review and fine-tune their investments. Not having your investments regularly reviewed can cost you thousands of dollars in unnecessary taxation, poor performance and missed opportunities. That's why we offer an investment review service.
Even if you think your plan and investment strategy is effective, let us review it. We may just surprise you. We are uniquely qualified to give tax-effective wealth creation advice and look to for ways to help you reach your goals sooner.
We can review your:
Superannuation strategy – ensure you are saving enough for a comfortable and financially secure retirement;
Investments – analyse what can be done better;
Review your insurance needs to ensure your wealth creation strategy is protected; and,
Identify any financial risk areas not meeting your wealth creation goals.
Pay less tax
As we are are also professional accountants, we are well-qualified to provide you with specific advice on the best way to minimise the tax on your investments.
Practical Wealth Solutions Pty Ltd (formerly the financial planning arm of Bechini & Associates) is a Corporate Authorised Representative and Corporate Credit Representative of Securitor Financial Group Ltd.
Peter and Sandro are Authorised representatives of Securitor.
Securitor details are:
ABN 48 009 189 495. AFS & Aust. Credit Licence Number 240687.
Super & Retirement planning – superannuation, income streams, Centrelink entitlements;
Debt management – home and investment loans, loan refinancing, equipment finance for businesses and consumers; and,
Tax planning strategies – strategies to reduce the tax you pay and build your wealth.
Investment reviews - Successful investors know that the only way to ensure they achieve their personal financial goals is to regularly review and fine-tune their investments. Not having your investments regularly reviewed can cost you thousands of dollars in unnecessary taxation, poor performance and missed opportunities. That's why we offer an investment review service.
Even if you think your plan and investment strategy is effective, let us review it. We may just surprise you. We are uniquely qualified to give tax-effective wealth creation advice and look to for ways to help you reach your goals sooner.
We can review your:
Superannuation strategy – ensure you are saving enough for a comfortable and financially secure retirement;
Investments – analyse what can be done better;
Review your insurance needs to ensure your wealth creation strategy is protected; and,
Identify any financial risk areas not meeting your wealth creation goals.
Pay less tax
As we are are also professional accountants, we are well-qualified to provide you with specific advice on the best way to minimise the tax on your investments.
Practical Wealth Solutions Pty Ltd (formerly the financial planning arm of Bechini & Associates) is a Corporate Authorised Representative and Corporate Credit Representative of Securitor Financial Group Ltd.
Peter and Sandro are Authorised representatives of Securitor.
Securitor details are:
ABN 48 009 189 495. AFS & Aust. Credit Licence Number 240687.
Protecting your wealth and your family – What do we mean? From Peter our financial planner.
In having plans for the future, we need to consider whether our health is a risk factor that could knock those plans apart.
After all, it is our good health that allows us to work, earn an income, and share good times with our families.
Before the Age of 70:
2 in 3 Men will have experienced a Critical Illness such as Heart Disease, Cancer;
1 in 2 Women will have experienced a Critical Illness Heart Disease, Cancer;
In addition, there is the chance of injury through Accidents
(Based on someone who is 30 yrs old now, source MLC)
So if you do experience a significant injury or illness, just what is it that wealth protection or insurance can do?
There are 4 important things it can provide for you.
1. Protect the lifestyle you have worked hard to build – you have worked so hard to get to where you are – would you let this work be blown away in the event of an injury or illness?
2. Provide the best chances of recovery by allowing you to focus on getting better – how focused will you be on your rehabilitation and recovery if you and your partner are stressed about paying the bills and mortgage?
3. Provide support to those closest to you – it is likely that your partner / family may be focused on helping you get better. Will they need support in the form of home assistance services?
4. Provide choices in case important decisions need to be made – It is not uncommon for people to take stock when they experience a significant illness or injury. Having some financial relief could help you make positive decisions you would otherwise be unable to even consider.
Well, there are 4 main types of cover. They are covers for different reasons:
Life / Terminal Illness Cover
Total & Permanent Disability
Trauma (Critical Illness)
Income Protection
Together they form a package, which is the foundation to your financial protection strategy
Income Protection will provide you with a monthly income stream, of 75% of your employment income, in case you cannot work because of illness and injury. Depending on the type of cover you have, the cover commences after 30 days (allowing you to use your sick and annual leave), and can continue up to Age 65.
So if you have a serious condition it can cover you for the rest of your working life.
Income protection can be a tax deduction too.
On the other hand
Life, Total & Permanent Disability, and Trauma Cover will pay you a lump sum, which will depend on the amount you applied to be covered for.
The great news is that MOST (but not all) of these covers can be paid for through superannuation. Some even if finances are tight, you maybe able to use your super fund to ensure you have wealth protection.
Life and TPD Cover are nearly always available via superannuation.
Income Protection is often available too, although the cover available via many super funds is nowhere near as comprehensive as it could be. We will cover this later.
Trauma cover is not available via super under any circumstance – this is because of the legislation that covers superannuation, does not allow it to be.
What cover should you have? And how much cover? This all depends on your wants, your debts, your lifestyle, how long you want cover to last etc
We can help you decide all this by providing you with specialist advice and support which means we can help you:
Determine the amount of cover that you require
Select the right products
Determine the funding strategy
Reduce the possibility of a nasty surprise at claim time
Help you in the event of a claim
What to do next is really up to you?
However given the importance that we place on our health, and the lifestyle we try so hard to build for our families, I do believe that financial protection is crucial in protecting your family. We cover this topic if you come in for advice but even if you don't want full advice, at least have a think about wealth protection.
My suggestion would be to:
Discuss this further with your partner or family. Determine what your priorities would be if a significant illness or injury were to happen to any of you.
Contact us to talk about wealth protection, the first appointment is at our expense
Peter is an Authorised Representatives of Securitor Financial Group Limited and director of Practical Wealth Solutions Pty Ltd.
Practical Wealth Solutions Pty Ltd (formerly the financial planning arm of Bechini & Associates) is a Corporate Authorised Representative and Corporate Credit Representative of Securitor Financial Group Ltd.
Securitor (ABN 48 009 189 495. AFS & Aust. Credit Licence Number 240687)
Protecting your wealth and your family – What do we mean? From Peter our financial planner.
In having plans for the future, we need to consider whether our health is a risk factor that could knock those plans apart.
After all, it is our good health that allows us to work, earn an income, and share good times with our families.
Before the Age of 70:
2 in 3 Men will have experienced a Critical Illness such as Heart Disease, Cancer;
1 in 2 Women will have experienced a Critical Illness Heart Disease, Cancer;
In addition, there is the chance of injury through Accidents
(Based on someone who is 30 yrs old now, source MLC)
So if you do experience a significant injury or illness, just what is it that wealth protection or insurance can do?
There are 4 important things it can provide for you.
1. Protect the lifestyle you have worked hard to build – you have worked so hard to get to where you are – would you let this work be blown away in the event of an injury or illness?
2. Provide the best chances of recovery by allowing you to focus on getting better – how focused will you be on your rehabilitation and recovery if you and your partner are stressed about paying the bills and mortgage?
3. Provide support to those closest to you – it is likely that your partner / family may be focused on helping you get better. Will they need support in the form of home assistance services?
4. Provide choices in case important decisions need to be made – It is not uncommon for people to take stock when they experience a significant illness or injury. Having some financial relief could help you make positive decisions you would otherwise be unable to even consider.
Well, there are 4 main types of cover. They are covers for different reasons:
Life / Terminal Illness Cover
Total & Permanent Disability
Trauma (Critical Illness)
Income Protection
Together they form a package, which is the foundation to your financial protection strategy
Income Protection will provide you with a monthly income stream, of 75% of your employment income, in case you cannot work because of illness and injury. Depending on the type of cover you have, the cover commences after 30 days (allowing you to use your sick and annual leave), and can continue up to Age 65.
So if you have a serious condition it can cover you for the rest of your working life.
Income protection can be a tax deduction too.
On the other hand
Life, Total & Permanent Disability, and Trauma Cover will pay you a lump sum, which will depend on the amount you applied to be covered for.
The great news is that MOST (but not all) of these covers can be paid for through superannuation. Some even if finances are tight, you maybe able to use your super fund to ensure you have wealth protection.
Life and TPD Cover are nearly always available via superannuation.
Income Protection is often available too, although the cover available via many super funds is nowhere near as comprehensive as it could be. We will cover this later.
Trauma cover is not available via super under any circumstance – this is because of the legislation that covers superannuation, does not allow it to be.
What cover should you have? And how much cover? This all depends on your wants, your debts, your lifestyle, how long you want cover to last etc
We can help you decide all this by providing you with specialist advice and support which means we can help you:
Determine the amount of cover that you require
Select the right products
Determine the funding strategy
Reduce the possibility of a nasty surprise at claim time
Help you in the event of a claim
What to do next is really up to you?
However given the importance that we place on our health, and the lifestyle we try so hard to build for our families, I do believe that financial protection is crucial in protecting your family. We cover this topic if you come in for advice but even if you don't want full advice, at least have a think about wealth protection.
My suggestion would be to:
Discuss this further with your partner or family. Determine what your priorities would be if a significant illness or injury were to happen to any of you.
Contact us to talk about wealth protection, the first appointment is at our expense
Peter is an Authorised Representatives of Securitor Financial Group Limited and director of Practical Wealth Solutions Pty Ltd.
Practical Wealth Solutions Pty Ltd (formerly the financial planning arm of Bechini & Associates) is a Corporate Authorised Representative and Corporate Credit Representative of Securitor Financial Group Ltd.
Securitor (ABN 48 009 189 495. AFS & Aust. Credit Licence Number 240687)
Protecting your wealth and your family – What do we mean? From Peter our financial planner.
In having plans for the future, we need to consider whether our health is a risk factor that could knock those plans apart.
After all, it is our good health that allows us to work, earn an income, and share good times with our families.
Before the Age of 70:
2 in 3 Men will have experienced a Critical Illness such as Heart Disease, Cancer;
1 in 2 Women will have experienced a Critical Illness Heart Disease, Cancer;
In addition, there is the chance of injury through Accidents
(Based on someone who is 30 yrs old now, source MLC)
So if you do experience a significant injury or illness, just what is it that wealth protection or insurance can do?
There are 4 important things it can provide for you.
1. Protect the lifestyle you have worked hard to build – you have worked so hard to get to where you are – would you let this work be blown away in the event of an injury or illness?
2. Provide the best chances of recovery by allowing you to focus on getting better – how focused will you be on your rehabilitation and recovery if you and your partner are stressed about paying the bills and mortgage?
3. Provide support to those closest to you – it is likely that your partner / family may be focused on helping you get better. Will they need support in the form of home assistance services?
4. Provide choices in case important decisions need to be made – It is not uncommon for people to take stock when they experience a significant illness or injury. Having some financial relief could help you make positive decisions you would otherwise be unable to even consider.
Well, there are 4 main types of cover. They are covers for different reasons:
Life / Terminal Illness Cover
Total & Permanent Disability
Trauma (Critical Illness)
Income Protection
Together they form a package, which is the foundation to your financial protection strategy
Income Protection will provide you with a monthly income stream, of 75% of your employment income, in case you cannot work because of illness and injury. Depending on the type of cover you have, the cover commences after 30 days (allowing you to use your sick and annual leave), and can continue up to Age 65.
So if you have a serious condition it can cover you for the rest of your working life.
Income protection can be a tax deduction too.
On the other hand
Life, Total & Permanent Disability, and Trauma Cover will pay you a lump sum, which will depend on the amount you applied to be covered for.
The great news is that MOST (but not all) of these covers can be paid for through superannuation. Some even if finances are tight, you maybe able to use your super fund to ensure you have wealth protection.
Life and TPD Cover are nearly always available via superannuation.
Income Protection is often available too, although the cover available via many super funds is nowhere near as comprehensive as it could be. We will cover this later.
Trauma cover is not available via super under any circumstance – this is because of the legislation that covers superannuation, does not allow it to be.
What cover should you have? And how much cover? This all depends on your wants, your debts, your lifestyle, how long you want cover to last etc
We can help you decide all this by providing you with specialist advice and support which means we can help you:
Determine the amount of cover that you require
Select the right products
Determine the funding strategy
Reduce the possibility of a nasty surprise at claim time
Help you in the event of a claim
What to do next is really up to you?
However given the importance that we place on our health, and the lifestyle we try so hard to build for our families, I do believe that financial protection is crucial in protecting your family. We cover this topic if you come in for advice but even if you don't want full advice, at least have a think about wealth protection.
My suggestion would be to:
Discuss this further with your partner or family. Determine what your priorities would be if a significant illness or injury were to happen to any of you.
Contact us to talk about wealth protection, the first appointment is at our expense
Peter is an Authorised Representatives of Securitor Financial Group Limited and director of Practical Wealth Solutions Pty Ltd.
Practical Wealth Solutions Pty Ltd (formerly the financial planning arm of Bechini & Associates) is a Corporate Authorised Representative and Corporate Credit Representative of Securitor Financial Group Ltd.
Securitor (ABN 48 009 189 495. AFS & Aust. Credit Licence Number 240687)
Protecting your wealth and your family – What do we mean? From Peter our financial planner.
In having plans for the future, we need to consider whether our health is a risk factor that could knock those plans apart.
After all, it is our good health that allows us to work, earn an income, and share good times with our families.
Before the Age of 70:
2 in 3 Men will have experienced a Critical Illness such as Heart Disease, Cancer;
1 in 2 Women will have experienced a Critical Illness Heart Disease, Cancer;
In addition, there is the chance of injury through Accidents
(Based on someone who is 30 yrs old now, source MLC)
So if you do experience a significant injury or illness, just what is it that wealth protection or insurance can do?
There are 4 important things it can provide for you.
1. Protect the lifestyle you have worked hard to build – you have worked so hard to get to where you are – would you let this work be blown away in the event of an injury or illness?
2. Provide the best chances of recovery by allowing you to focus on getting better – how focused will you be on your rehabilitation and recovery if you and your partner are stressed about paying the bills and mortgage?
3. Provide support to those closest to you – it is likely that your partner / family may be focused on helping you get better. Will they need support in the form of home assistance services?
4. Provide choices in case important decisions need to be made – It is not uncommon for people to take stock when they experience a significant illness or injury. Having some financial relief could help you make positive decisions you would otherwise be unable to even consider.
Well, there are 4 main types of cover. They are covers for different reasons:
Life / Terminal Illness Cover
Total & Permanent Disability
Trauma (Critical Illness)
Income Protection
Together they form a package, which is the foundation to your financial protection strategy
Income Protection will provide you with a monthly income stream, of 75% of your employment income, in case you cannot work because of illness and injury. Depending on the type of cover you have, the cover commences after 30 days (allowing you to use your sick and annual leave), and can continue up to Age 65.
So if you have a serious condition it can cover you for the rest of your working life.
Income protection can be a tax deduction too.
On the other hand
Life, Total & Permanent Disability, and Trauma Cover will pay you a lump sum, which will depend on the amount you applied to be covered for.
The great news is that MOST (but not all) of these covers can be paid for through superannuation. Some even if finances are tight, you maybe able to use your super fund to ensure you have wealth protection.
Life and TPD Cover are nearly always available via superannuation.
Income Protection is often available too, although the cover available via many super funds is nowhere near as comprehensive as it could be. We will cover this later.
Trauma cover is not available via super under any circumstance – this is because of the legislation that covers superannuation, does not allow it to be.
What cover should you have? And how much cover? This all depends on your wants, your debts, your lifestyle, how long you want cover to last etc
We can help you decide all this by providing you with specialist advice and support which means we can help you:
Determine the amount of cover that you require
Select the right products
Determine the funding strategy
Reduce the possibility of a nasty surprise at claim time
Help you in the event of a claim
What to do next is really up to you?
However given the importance that we place on our health, and the lifestyle we try so hard to build for our families, I do believe that financial protection is crucial in protecting your family. We cover this topic if you come in for advice but even if you don't want full advice, at least have a think about wealth protection.
My suggestion would be to:
Discuss this further with your partner or family. Determine what your priorities would be if a significant illness or injury were to happen to any of you.
Contact us to talk about wealth protection, the first appointment is at our expense
Peter is an Authorised Representatives of Securitor Financial Group Limited and director of Practical Wealth Solutions Pty Ltd.
Practical Wealth Solutions Pty Ltd (formerly the financial planning arm of Bechini & Associates) is a Corporate Authorised Representative and Corporate Credit Representative of Securitor Financial Group Ltd.
Securitor (ABN 48 009 189 495. AFS & Aust. Credit Licence Number 240687)