Guides, insights and tools on tax, accounting, wealth and business growth from Fortuna Advisory's WA and Sydney specialists. Stay informed and ahead.

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Redundancy can come as a shock, even if you had a feeling it might be coming.
One week everything feels steady and predictable, and the next you&rsquo;re wondering how you&rsquo;ll manage the mortgage, keep up with bills, and plan for what&rsquo;s ahead.
If you&rsquo;ve recently been made redundant or know someone who has, you&rsquo;re not alone. Many people across the Bunbury, Busselton and Mandurah regions are finding themselves in this same situation and feeling the same worries -&nbsp;how to pay the bills, what happens to their super, and what the future might look like now that everything has changed.
These are big questions, and it&rsquo;s completely normal to feel anxious or unsure about what to do next. The good news is that there are practical steps you can take to regain control and move forward with confidence.
<h3 data-start="1201" data-end="1238">Take a Breath and Get Clarity</h3>
When a redundancy happens, it&rsquo;s easy to feel pressure to make quick decisions&nbsp;about your payout, your debts, or how to use the money wisely. But before doing anything, it helps to take a step back and understand exactly where you stand.
Knowing what your redundancy payment includes, how it&rsquo;s taxed, and what options you have can make a huge difference. Taking a little time now to get clear on your financial position can save you a lot of stress and help you make the right choices for yourself and your family.
<h3 data-start="1767" data-end="1799">Get Advice You Can Trust</h3>
This is one of those times when having the right advice makes all the difference. Every redundancy package and every personal situation is unique,&nbsp;which is why getting guidance that&rsquo;s specific to you is so important.
Our&nbsp;Fortuna Wealth Management team&nbsp;is here to support you through this transition. We&rsquo;re offering&nbsp;1-hour redundancy consultations&nbsp;with&nbsp;Financial Planner Andrew O&rsquo;Neil&nbsp;at our&nbsp;Bunbury office, 16 Stirling Street, for&nbsp;$350, discounted in light of the current local circumstances.
During your session, Andrew will take the time to understand your situation, explain your options, and help you make sense of what comes next - whether that&rsquo;s managing your payout, reviewing your super and insurance, or putting a short-term plan in place while you look for your next opportunity.
<h3 data-start="2893" data-end="2934">You Don&rsquo;t Have to Face This Alone</h3>
Redundancy doesn&rsquo;t define your future. It&rsquo;s a moment of change, and with the right support, it can become an opportunity to reset, refocus and make choices that strengthen your financial wellbeing for the long term.
If you or someone you know has been affected by redundancy, we encourage you to reach out for help or share this article with anyone who might need it.
<a href="mailto:bunbury@fortunaadvisors.com.au">To book a consultation with Andrew O&rsquo;Neil, contact Tracy at Fortuna Advisory Group on (08) 9721 6922 or email&nbsp;</a><a rel="noopener" data-start="317" data-end="347">bunbury@fortunaadvisors.com.au</a>
Our team is here to guide you through the next steps and help you feel back in control.

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Facing Redundancy? How to Protect Your Finances and Plan Ahead

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<h2>Key Takeaways</h2>
<ul>
<li>
Workers&rsquo; Compensation Insurance in WA is more than a legal requirement,&nbsp;it safeguards your employees and your business.
</li>
<li>
The right cover ensures compliance with&nbsp;WorkCover WA, reduces risks, and supports staff morale.
</li>
<li>
Partnering with an experienced insurance broker like&nbsp;Fortuna Advisory&nbsp;makes it easier to tailor cover, manage claims, and keep costs under control.
</li>
</ul>
<hr>
<h2>&nbsp;</h2>
<h2>Why Workers&rsquo; Compensation Insurance Matters</h2>
<a href="https://www.fortunaadvisors.com.au/business-general-insurance/" target="_blank" rel="noopener">Fortuna Insurance</a>&nbsp;knows that running a business in Western Australia means taking care of more than just the bottom line. Your employees are at the heart of everything you do&nbsp;and ensuring their safety and wellbeing is essential.
Accidents and workplace injuries can happen in any industry, which is why&nbsp;Workers&rsquo; Compensation Insurance&nbsp;is critical.
This insurance provides financial protection for both employers and employees.
If someone is injured at work, it covers medical expenses, wage replacement, and rehabilitation.
For business owners, it minimises financial exposure, reduces legal risks, and helps maintain a safe and supportive workplace culture.
It&rsquo;s about&nbsp;compliance, care, and confidence.
&nbsp;
<h2>Workers&rsquo; Compensation Insurance WA: What You Need to Know</h2>
In WA, all employers are legally required to hold workers&rsquo; compensation cover under the&nbsp;Workers&rsquo; Compensation and Injury Management Act 1981, overseen by&nbsp;WorkCover WA.
A policy will typically cover:
<ul>
<li>
Medical expenses &amp; rehabilitation&nbsp;for workplace injuries
</li>
<li>
Income replacement&nbsp;if an employee can&rsquo;t work
</li>
<li>
Support for permanent impairment or disability
</li>
<li>
Death and funeral benefits&nbsp;for dependents
</li>
<li>
Return-to-work programs&nbsp;to help employees back into safe duties
</li>
</ul>
Understanding your obligations and ensuring the right level of cover is essential&nbsp; as it not only to avoid penalties but also to protect your people.
&nbsp;
<h2>The Benefits Beyond Compliance</h2>
Many business owners see workers&rsquo; compensation as a &ldquo;tick-the-box&rdquo; requirement.
But when done right, it offers far more:
<ul>
<li>
Risk mitigation: shields your business from costly claims.
</li>
<li>
Employee trust: shows staff they&rsquo;re valued and protected.
</li>
<li>
Stronger safety culture: proactive injury management reduces incidents.
</li>
<li>
Premium management: brokers can help keep premiums fair through claims support and negotiation.
</li>
<li>
Reputation: businesses that look after their people attract and retain top talent.
</li>
</ul>
<h2>Common Mistakes to Avoid</h2>
<ul>
<li>
Delaying incident reporting&nbsp;&rarr; increases disputes and costs.
</li>
<li>
Underinsuring casuals or contractors&nbsp;&rarr; leaves gaps in cover.
</li>
<li>
Choosing based on lowest premium&nbsp;&rarr; may lead to exclusions or poor claims service.
</li>
<li>
Neglecting safety training&nbsp;&rarr; more claims, higher premiums.
</li>
</ul>
A proactive approach with expert support prevents these issues and keeps your business compliant and competitive.
&nbsp;
<h2>Why Choose Fortuna Insurance?</h2>
At&nbsp;Fortuna Insurance, our experienced team of insurance brokers in Perth specialise in tailoring workers&rsquo; compensation solutions for WA businesses. We help you:
<ul>
<li>
Stay compliant with&nbsp;WorkCover WA&nbsp;obligations
</li>
<li>
Get the best policy for your workforce and industry
</li>
<li>
Streamline claims management and disputes
</li>
<li>
Build risk-management strategies that lower premiums over time
</li>
<li>
Create safer workplaces that support employees and business growth
</li>
</ul>
We don&rsquo;t just sell policies, we partner with you to protect your most valuable asset: your people.
<h2>Next Steps</h2>
<ol>
<li>
Review your current workers&rsquo; compensation policy&nbsp;for gaps.
</li>
<li>
Assess your workforce risks&nbsp;(casuals, contractors, high-risk tasks).
</li>
<li>
Strengthen safety systems and reporting&nbsp;to reduce claims.
</li>
<li>
Speak with Fortuna Advisory&nbsp;to compare options and get tailored cover.
</li>
</ol>
Workers&rsquo; Compensation Insurance in WA&nbsp;isn&rsquo;t just about meeting your legal obligations,&nbsp;it&rsquo;s about protecting your people, building trust, and safeguarding your business.
With the right broker on your side, you can turn compliance into confidence.
Ready to review your policy?
<a href="https://www.fortunaadvisors.com.au/insurance-broking-products/workers-compensation-insurance/" target="_blank" rel="noopener">Contact Fortuna Insurance&nbsp;today</a>&nbsp;to discuss the best workers&rsquo; compensation cover for your business.
&nbsp;
<hr>
<blockquote>
&nbsp;Disclaimer: This blog is intended for general information purposes only. It does not take into account your specific needs or circumstances. For personalised advice, please speak directly to one of our qualified insurance professionals at&nbsp;Fortuna Insurance.
</blockquote>
<hr>
&nbsp;

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Workers’ Compensation Insurance in WA: Protecting Your People and Your Business

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When it comes to aged care, too many families wait until a health crisis strikes before making decisions. This can lead to rushed choices, limited options and unnecessary stress. By planning ahead, you can take control of your future and make confident, informed decisions for yourself or your loved ones.
With new residential care fee structures coming into effect on 1 November 2025, now Is the time to review your options and understand how these changes could impact you.
The Three Phases of Retirement
Retirement isn&rsquo;t just about stopping work &ndash; it unfolds in three phases:
<ol>
<li>Active phase &ndash; a time of independence, travel and lifestyle enjoyment.</li>
<li>Supportive phase &ndash; Some at-home help with housework, meals, or personal care becomes valuable.</li>
<li>Care phase &ndash; when residential or higher level care is needed.</li>
</ol>
Recognising these stages helps you prepare both financially and emotionally for the journey ahead.
Aged Care Options
There&rsquo;s no one size fits all solution. Your choices may include:
<ul>
<li>Support at home &ndash; services that help maintain independence</li>
<li>Retirement villages &ndash; offering community, lifestyle and varying levels of support</li>
<li>Residential care &ndash; a fully supported environment, providing accommodation, meals and personal care.</li>
</ul>
The right pathway depends on your health, finances and personal preferences.
Residential Care and November 1 Rules
Residential care is often considered later in life &ndash; but waiting can reduce your choices. From November 1 2025, updated fee structures will apply, with rates subject to indexing.
What will you pay?
<ul>
<li>A combination of accommodation costs, daily fees and means tested contributions.</li>
<li>Options for paying for your room include lump sums, daily payments, or a mix of both.</li>
</ul>
Understanding these rules early ensures you&rsquo;re financially prepared and avoids being caught off guard in an emergency.
Key Takeaways
<ul>
<li>Don&rsquo;t wait for a crisis &ndash; start planning today</li>
<li>Understand the three phases of retirement and the support you may need</li>
<li>Be aware of the November 1, 2025, fee structure changes</li>
<li>Seek professional advice to explore how your home and assets affect your options.</li>
<li>Planning ahead ensures freedom, choice, and peace of mind.</li>
</ul>
Every situation is unique, and the right choices depend on your personal financial circumstances. Speaking with a specialist financial planner ensures your plan is tailored to your needs &ndash; helping you and your family face the future with confidence.
At Fortuna Wealth Management, we help you prepare for aged care with clear advice, practical solutions and peace of mind.

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