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Expected annual turnover
This is the total income derived by your business throughout the year. Turnover is not to be confused with your profit, which is revenue minus expenses.
You can refer to the amount shown at G1 on your Business Activity Statement (BAS) to help calculate turnover. Other business records can also help you, such as cash books, bank statements, invoices, and your business plan.
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Adelaide, SA 5001
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Depending on your individual or business’s circumstances, you could be entitled to claim a deduction for a number of insurance products.
Public Liability Insurance and Professional Indemnity are important insurance covers for businesses. From covering accidents and injuries to providing a professional duty of care, getting the right cover just got easier. – Read More
Running a business from home? Don’t risk being under-insured. Make sure you have the right type of insurance cover for you business.
FAQS
Public Liability relates to third party injury or third party property damage whilst you’re on the job, and Products Liability relates to injury to third parties or damage caused by any products you distribute, supply or manufacture.
Public Liability and Professional Indemnity cover different types of risks.
Public Liability covers your legal liability to pay compensation for injury or damage to property caused to a third party in connection to your business. For example, if a customer slips and trips while on your business premises.
You can visit the GIO claims page for more information.
According to the ATO, "you can generally claim a deduction for most operating expenses in the same income year you incur them".
Each business is different, and as such has different needs when it comes to insurance. However, you may want to keep in mind what contracts you work on, and the conditions of your licence when making a decision.
We understand that sometimes our customers need extra care and support at different points in their lives. We also know that everyone’s situation and needs will be different. We are committed to looking after your needs with sensitivity, dignity, respect and compassion. Find out more
Expected annual turnover
This is the total income derived by your business throughout the year. Turnover is not to be confused with your profit, which is revenue minus expenses.
You can refer to the amount shown at G1 on your Business Activity Statement (BAS) to help calculate turnover. Other business records can also help you, such as cash books, bank statements, invoices, and your business plan.
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