ACC COVERPLUS EXTRA
It is recommended that you consider this cover rather than ACC CoverPlus if:
|Your income varies from year to year|
|You have not been self-employed for long|
|You can continue to receive business income after injury|
|You want a guaranteed level of compensation|
|You are in a partnership|
|You are a non-PAYE shareholder-employee|
WHAT ARE THE BENEFITS?
|You can tailor the level of cover to suit your own personal circumstances.|
|If you make a claim, there is no need to prove your earnings, as the weekly compensation will already have been agreed.|
|You’ll receive 100% of the amount of weekly compensation purchased until you are fit for full-time work.|
HOW MUCH DOES IT COST?
|The differences in rates between your normal entitlement and the nominated weekly compensation|
These amounts are for the 2005/06 levy year, and are subject to changes due to indexation each year.
|The minimum level of weekly compensation that you can nominate is $14,976 each year|
|The maximum level of weekly compensation that you can nominate is
$75,381 each year.
|Established in self-employment – means you have passed more than one balance date (last day in the tax year)|
|Recently self-employed – means you have passed only one balance date and therefore may not have an entire year of liable earnings|
|Newly self-employed – means you have not been in self-employment
long enough to lodge a tax return with Inland Revenue.|
IN A PARTNERSHIP?
|Cover can be negotiated based on 100% of the partnership’s income rather than on a maximum of 80% of each individual’s income (provided all partners apply for CoverPlus Extra at the same time)|
|Where one member of a partnership is a “passive earner” (with
little involvement in the actual management or operation of the
business), the other partner’s/partners’ level of cover can be
negotiated to take into account the total partnership liable earnings.|
If we can assist further, please email TotalAccounting as follows:
CONTACT TOTALACCOUNTING BY EMAIL BY CLICKING ON THIS LINK
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