Category Archive for : ‘insurance’

As an employer, it is your responsibility to make sure your
workers are insured for work-related injury. 
In Queensland, WorkCover Accident Insurance Policy is a compulsory cover
for all ‘workers’ as defined under the Workers’ Compensation and Rehabilitation
Act 2003.  This insurance covers you
against all statutory and damages claim costs in the event of a work-related
injury to your workers. There are no limits or caps to the number of claims
that can be made against your policy and you cannot pay any of your own claim
costs in Queensland.

Who is a Worker

From 1 July 2013 a

Most superannuation funds offer life insurance to their
members.  In fact, without ever having
made an election you may find you already have insurance cover in your super
fund.  Great, but it is still important
you take the time to review your cover and make sure you are appropriately
insured.  There are three types of life
insurance cover typically provided to super fund members:

Death cover (also known as life
insurance) – is part of the benefit your beneficiaries receive
when you die, either as a lump sum or as an income stream.Total and permanent disability (TPD) cover
– pays you a benefit if you become

Having the right insurance cover such as illness and accident cover within your super fund is very important as it provides a level of security for members of the fund along with their families. Choosing the right insurance cover can be arranged by the SMSF trustee/s.
Generally, there are three types of insurance that are available through super, with these being:

Income Protection Cover (IP) – this type of cover is relevant when you cannot work due to a temporary illness or disability. It provides an income stream whilst you are off

Is Audit Insurance right for your business?  The ATO has received additional funding (several hundred million dollars) to undertake more audits this year. Each year, the ATO identifies specific occupations where it pays particular attention to claims for deductions and seeks to ensure that those people don’t try and claim deductions which they aren’t entitled to. This year, the careers which are getting specific attention are real estate workers, flight attendants, carpenters and joiners and earthmovers. Another area of focus will be people who make a living from eBay. Anyone

Audits coming your way?

The Federal Government has proposed a 55% increase in audit funding over the next four years with an anticipated target of $3.7 billion in revenue raising as a result. So what does this mean for you? With the ATO not discriminating and targeting individual, businesses and SMSF lodged returns, everyone’s now on the hit list.

What can you do to combat an Audit?

Be in the know
Gain a better understanding of your financial position and tax situation by reviewing and talking with your PJT accountant. We can conduct a risk assessment,