Is my Business Insurance expense tax deductible?

You will need to seek independent tax advice relating to your individual situation, however according to the ATO , ‘you can generally claim a deduction for most operating expenses in the same income year you incur them. Insurance premiums, including accident or disability, fire, burglary, professional indemnity, public risk, motor vehicle, loss of profits insurance, or workers’ compensation’ are included in the definition of operating expenses. LEARN MORE ABOUT BUSINESS INSURANCE

What is the difference between employees and subcontractors?

An employee works for and is part of your business. An employee is generally: paid a wage has set hours of work entitled to paid holiday leave and sick leave entitled to superannuation guarantee charge (SGC), and covered by Workers Compensation Insurance. A contractor/subcontractor operates their own business (they will generally have their own ABN) and is not entitled to any of the above benefits from the business that has entered into an agreement to contract their services. Contractors are required to purchase their own insurance prior to work being carried out, to cover themselves from liability risks or personal injury. Businesses that hire contractors should ensure that they have their own insurance policies covering them if they are injured on site, as well as if they cause property damage or bodily injury to a third party while working in connection with your business. LEARN MORE ABOUT BUSINESS INSURANCE

How do I make a claim?

You can visit the GIO claims page for more information. If you prefer, you can also call us at 13 14 46, 24 hours a day, 7 days a week to speak to one of our dedicated claims staff. Please note that no quotes are required before you call us. We will advise you on the claim process and what you need to do next during the call. You can also email us at lodgeclaim@gio.com.au with your policy number and a short description of the claim.

Business Insurance

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Business Insurance

Frequently Asked Questions

According to the ATO, "you can generally claim a deduction for most operating expenses in the same income year you incur them".

An employee works for and is part of your business, whilst a subcontractor operates their own business while contracting their services to you.

You can visit the GIO claims page for more information.

Renew your policy

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Lodge or track a claim

We keep your claims journey short and simple, and keep you updated along the way.

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Get in touch

Speak to a GIO Business Insurance consultant between 8am-6pm AEST, Mon-Fri.

Call 13 10 10

Other ways to get in touch

Phone

Give us a call on 13 10 10.

Monday - Friday
8am - 6pm (AEST time)

Translating and interpreting
services available

Postal addresses:

GIO Business
GPO BOX 2470,
Adelaide, SA 5001

Customers in need of extra help and support

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 commited to looking after your needs with sensitivity, dignity, respect and compassion.

Find out more

Dispute Resolution

Explore our Dispute Resolution page to find out how we can help with any questions or complaints you have regarding our service or products.

Service of legal documents

GIO is a part of the Suncorp Group, and the contact details for service of legal documents (including writs, subpoenas, and garnishee orders) are the same across the Group.

Insurance Council of Australia

Find out more about the General Insurance Code of Practice.

Agency Stores

Did you know GIO has stores in New South Wales and Victoria? Visit one of our Agency stores, where our knowledgeable Agents can provide personalised service to meet your insurance needs.