Skip to content Skip to main menu
I'd like to…

News

Mandatory Professional Indemnity for Tax Body

By John Paul Whitbread on

Tax Agents will be required by the Tax Practitioners Board to have Professional Indemnity Insurance as of July 2011.

The requirement applies to all tax and business activity statement (BAS) advisers who provide tax and BAS services for a fee.

The Tax Practitioners Board is proposing a minimum level of cover of $250,000 for turnover of up to $75,000. 

The insurance must cover contractors and employees, and must include run off cover if the agent stops providing services. The excess must be no more than 4 per cents of the agent’s turnover, or less than $1,000.

If you currently do not have Professional Indemnity Insurance and would like a quote to ensure your business has the required insurance cover in place, please contact Holger Schnabel on 1300424627.

 

Whitbread Contact Us

 

The Whitbread Channel

News
shutterstock 302056082 cropped
Ben Bowen

Ben Bowen, Whitbread’s General Manager | Broking, shares his insights into the perils of importing goods into Australia, and the things to watch out for when it comes to your insurance.

Insight
Cyber padlock image Copy2
Holger Schnabel

A tarnished reputation has the potential to reduce the number of individuals that trust, and are willing to donate to a NFP. Given the heavy reliance most NFPs have on donor contributions, as well as the fierce competition in attracting donor dollars, a cyber breach, coupled with possible legal action...

×

Sign up to our newsletter

Please Enter Valid Email Address

Please Enter First Name

Please Enter Last Name