Don’t Let an Injury Wipe Out Your Income: Review Your Cover This Tax Time
As a builder or tradie, you work in one of Australia’s most physically demanding and high-risk industries. One wrong step on-site, one accident with a power tool, and suddenly you’re off the tools for weeks, or even months.
Now imagine trying to cover rent or mortgage payments, groceries, and bills… without your regular income.
That’s where Income Protection Insurance becomes more than just a ‘nice to have’, it becomes your financial lifeline. And tax time is the smart time to make sure you’ve got the right protection in place.
Why Income Protection Matters—Especially in Construction
The construction industry has some of the highest rates of workplace injury in Australia. Whether you’re scaling scaffolds, laying concrete, operating machinery, or just working in unpredictable outdoor environments, the risk of being sidelined due to injury is real.
Without income insurance, many tradies are left scrambling, dipping into savings, borrowing money, or falling behind on essential payments. And when you’re self-employed or subcontracting, there’s no sick leave or WorkCover safety net to rely on.
What to Check at Tax Time
EOFY isn’t just about deductions—it’s a smart time to take stock of your business and personal finances. While you’re looking over your books, take a moment to ask:
Do I have any income protection cover in place?
If not, now’s the time to get it sorted.
If I got injured tomorrow, how long could I survive without income?
Be honest, most people don’t have more than a few weeks’ worth of savings.
Is my current cover enough to match my real income and expenses?
As your business grows, your cover should grow too.
Could I claim my premiums as a tax deduction?
In many cases, yes! Income Protection premiums for policies held outside of super are often tax-deductible.*
*Always confirm with your accountant or financial advisor.
Talk to Someone Who Gets Tradies: Agent for Life
If you’re a TAG member, you’ve got a head start. Agent for Life is TAG’s preferred supplier for Income Protection, Life Insurance, and TPD and they specialise in working with Aussie tradies.
Amanda and her team understand the challenges you face and will give it to you straight.
They’ll:
- Review your current cover (or help set up new protection)
- Explain your options in plain English
- Tailor a policy that fits your life, your work, and your budget
- Help you take advantage of any possible tax benefits
Don’t Wait Until You’re Off the Tools to Think About Cover
Injuries don’t give warnings and neither do bills. If you haven’t reviewed your income protection in the last 12 months, now’s the time.
Contact Amanda at Agent for Life for a free policy review and expert advice.
You’ve worked hard to build your business. Let’s make sure you’re still covered if life throws a curveball.
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