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At Preston Coe & Ring it isn't just about the numbers, it is about you and what you want to achieve in life. We have a saying "Living for today, saving for tomorrow and protecting in between"; that really symbolises what we are about. We help our clients Live Life and guide them through the journey with our skills and expertise as trusted business advisors, accountants and financial planners.
If you are new and considering using Our Services please look at the Our Clients section. Here you will find some useful information and get an understanding of our culture. Like anything we enjoy working with like-minded people with whom we can really help. You will find some great client testimonials by clicking here.
If you have visited before welcome back and I hope you enjoy the visit.
How We Help
The start of the journey
Business & Accounting Tax
- Tax Planning
- Tax Returns
- Financial Statements
- Asset Protection Review
- Risk Management
Individual Client information
- Assets & Liabilities
- Income and Expenses
- Initial Goals
- Estate Planning
Plan For Living Life
What you are aiming for
When You're Gone Plan
Strategy Advice (Financial Advice)
- Shares/Managed Funds/Gearing
- Debt Reduction
- Home Loans
Staying On Track
Measure, review, adjust
Business Management Reports
Board Strategy Meetings
Business Annual General Meeting
Asset Protection Review
Review investment Strategy
Like you dreamed it!
Future Generation Planning
At the age of 35, I am currently in the worst financial position of my adult life. To get Myself into a better position, I knew things had to change.
After being referred to Peter Marmara-Stewart, I called him and asked for his help. He made the trip from Morwell to Frankston to see me. From the moment I met him, I knew he was going to be the one to not only help me escape my current financial position, but also be the one to help me towards my goal of financial freedom.
Peter is the depiction of genuine. It is evident he genuinely cares and wants to help people. Everything he does demonstrates that. I run a small business and compared with other businesses, Peter and his team help; I am small fish, yet Peter has a way of making me feel like I am his only client.
To Peter and the team at Preston Coe & Ring, thank you for helping me believe I can, not only get out of my current financial circumstance, but for also giving me the belief that I can achieve financial freedom.
I’d recommend Peter to anyone, no matter where you are in the world; he will make you feel like you are there with him in the same town.
"Preston Coe & Ring's help with my tax and finances has made it less stressful and given me more free time for the things I enjoy."
Preston Coe & Ring helps provide me predictability and new ideas to help with my finances, thus giving me security to have a better life.
“They make things simple & easy to understand; which makes life easy.”
Preston Coe & Ring make it easy to do tax and compliance as well as give good advice on major purchases like a car or business.
Preston Coe & Ring make tax easier by making sure it is right and help reduce our tax where possible. This gives me more time do things I would rather be doing
Preston Coe & Ring have helped put us on the right road to tomorrow in doing this we have been able to achieve some personal goals much sooner than we thought possible.
How does it work?
Your business contributes your premiums to your super fund and the business gets the tax deduction. On top of that the super fund gets the tax deductions for the life insurance premiums it pays.
Option 1 – Pay $5,000 premium outside of super.
No tax deduction.
Option 2 – Pay $5,000 Life Insurance premium inside super.
Business pays the super fund as a contribution. Tax deduction. At 49% tax rate that is a $2,450 tax saving.
Contribution is income in the fund @ 15% = $750 tax payable
Life Insurance premium is deduction in the fund @15% = $750 tax refund.
NET TAX SAVINGS $2,450
What do you need to make sure you can get this tax deduction:
- A business or an employer that allows you to salary sacrifice to super.
- A chat with one of our team.
- To take action before 30th June.
Why are life insurance premiums not tax deductible outside of super?
You are not allowed to claim the premiums outside of super because you don’t pay tax on the money that you receive.
How much would I have to earn pre-tax outside of super for that premium?
If you are on the highest marginal tax rate of 49% you would have to earn $9,803. But even if you are on the 34.5% tax bracket you would have to earn $7,633.
Does this strategy apply to other insurances?
This strategy can apply to TPD (Any Occupation) and Income Protection Insurance as well. Income Protection insurance is tax deductible outside of superannuation also.
Other insurances such as Home, Car & Pet insurances are not able to be paid through superannuation.