An Interesting Case Study about ACC Levies…

Mark is an Electrician who earned taxable income of $80,000 pa. and paid $2,986 in ACC Cover Plus standard levies.

Mark also paid $4,696 a year for personal Income Protection and Life & Trauma Insurance on his wife and himself, plus Medical Insurance for his family of 5.

Total cost of Protection $7,682.

Mark switched to CoverPLus Extra, dialed back his ACC to 40% of his taxable income.

Mark now only pays $ 1,731 a year to ACC.

Total cost of Protection $ 6,427 a year. Saving him $1,255 a year!

**If you’re interested in reducing your ACC levies, feel free to email me at mike@prosperityplus.co.nzand I will be more than happy to assist you.

June Reading Round-Up

Mary Holm: Let’s make most of KiwiSaver (Click here…)

Mary answers readers’ questions about KiwiSaver and exchange rates. (NZ Herald)

Bernard Hickey:Why I’m a grumpy whinger (Click here…)

It’s been just over 4 years since US banks began reporting heavy losses on sub prime mortgages, triggering the worst Global Financial Crisis in almost a century. (NZ Herald – Show Me the Money Blog)

NZ needs working boomers (Click here…)

New Zealand needs to tap into the economic potential of the retiring baby-boom generation if it is to offset the cost of supporting them, a new report says. (NZ Herald)

Amanda Morrall: How much rent can you afford? (Click here…)

With good reason there is a lot of doubt about official numbers lately, be it Budget forecasts, inflated returns, IMF reports, Standard & Poor ratings or media reports regurgitating the figures and accepting them at face value.

Squeeze may hit Wellington’s housing (Click here…)

The Government’s $1 billion belt-tightening could put the brakes on Wellington’s housing market recovery, ASB says. (Stuff)

Inflation tipped to hit 20-year high (Click here…)

Inflation could blow out to 10 per cent over the next five years, well above the Reserve Bank target of 1 per cent to 3 per cent, according to funds management company NZ Funds. (Stuff)

Cheaper power checks urged (Click here…)

A campaign to help households reduce their power bills could save consumers up to $240 million a year. (Stuff)