PI for bookkeepers and BAS agents covers claims that an error in a client's books, BAS or payroll cost them money. If you are a registered BAS agent, the Tax Practitioners Board requires it.
Source: https://piinsurance.com.au/bookkeepers/, fetched from the preview https://pi-react-4ee768.pages.dev/bookkeepers/ on 10 Nov 2026; site dated 3 Nov 2026. Preview wording, not yet broker-reviewed. General information, not advice.
Site label: Required for registered BAS agents.
Why you need it: TPB registration and clients
Registered BAS agents must hold PI that meets the Tax Practitioners Board requirements as a condition of registration. The minimum depends on your turnover. Check the TPB's current guidance for your band. Bookkeepers who are not registered usually buy it because clients ask.
Typical limits
The TPB sets the minimum by turnover, starting at $250k for the smallest practices. Many bookkeepers choose $1m.
What can go wrong
Illustrative scenarios, not real claims.
A BAS lodged with the wrong GST
A coding error over several quarters means a client underpays GST. The ATO adds interest and the client claims it from you.
Payroll that underpaid super
Super for staff is calculated on the wrong base. The client pays the shortfall charge and claims it.
Common exclusions to watch
- The tax or super itself (it was always owed)
- Fines imposed on you
- Dishonesty of your own staff unless covered
- Work as a tax agent if you are not registered as one
Wording differs between policies. Read the policy wording, or ask us to point out what it says.
Types of bookkeepers and BAS agents
Registered BAS agents
PI is a registration condition. Your policy must meet the TPB's requirements.
Payroll bookkeepers
Super and award errors are the common claims.
Common questions
Do bookkeepers and BAS agents need professional indemnity insurance?
Registered BAS agents must hold PI that meets the Tax Practitioners Board requirements as a condition of registration. The minimum depends on your turnover. Check the TPB's current guidance for your band. Bookkeepers who are not registered usually buy it because clients ask.
How much PI cover do bookkeepers and BAS agents need?
The TPB sets the minimum by turnover, starting at $250k for the smallest practices. Many bookkeepers choose $1m.