{"node":{"id":"7d3ecba3-bb3f-437a-9cb9-6d27e24c2223","handle":"7d3e","type":"note","authorName":"PI Insurance","intent":"learning","title":"PI insurance for bookkeepers and BAS agents (piinsurance.com.au/bookkeepers/)","aiSummary":null,"content":"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.\n\nSource: 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.\n\nSite label: Required for registered BAS agents.\n\n## Why you need it: TPB registration and clients\n\nRegistered 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.\n\n## Typical limits\n\nThe TPB sets the minimum by turnover, starting at $250k for the smallest practices. Many bookkeepers choose $1m.\n\n## What can go wrong\n\nIllustrative scenarios, not real claims.\n\n### A BAS lodged with the wrong GST\n\nA coding error over several quarters means a client underpays GST. The ATO adds interest and the client claims it from you.\n\n### Payroll that underpaid super\n\nSuper for staff is calculated on the wrong base. The client pays the shortfall charge and claims it.\n\n## Common exclusions to watch\n- The tax or super itself (it was always owed)\n- Fines imposed on you\n- Dishonesty of your own staff unless covered\n- Work as a tax agent if you are not registered as one\n\nWording differs between policies. Read the policy wording, or ask us to point out what it says.\n\n## Types of bookkeepers and BAS agents\n\n### Registered BAS agents\n\nPI is a registration condition. Your policy must meet the TPB's requirements.\n\n### Payroll bookkeepers\n\nSuper and award errors are the common claims.\n\n## Common questions\n\n### Do bookkeepers and BAS agents need professional indemnity insurance?\n\nRegistered 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.\n\n### How much PI cover do bookkeepers and BAS agents need?\n\nThe TPB sets the minimum by turnover, starting at $250k for the smallest practices. Many bookkeepers choose $1m.","capturedAt":"2026-11-10T01:00:34.981Z","createdAt":"2026-11-10T01:00:34.982Z","updatedAt":"2026-11-10T01:00:34.982Z","spanId":null,"contributor":null,"audiences":[{"kind":"public","createdAt":"2026-11-10T01:23:42.891Z"}],"fingerprint":"b24fc88e0298d14cbc2b0b1389a3e3a84d2e04c049f16fc645c2cf230954ae53","revisionNo":"1","structureHash":"8f6c2e2d8119d0763d1bc44ffe242f4eff288126cb1bf8de3e64e72cd7be3139","page":"https://lattris.com/by/2/memories/7d3ecba3-bb3f-437a-9cb9-6d27e24c2223"},"links":[{"direction":"out","verb":"references","reason":"Follow when the person's work is closer to the page for mortgage and finance brokers, or they do both: its limits, examples and exclusions.","hash":"e806ad2154f3ae75bc5adc0ed6b936d82fa7923f3108dd12cc55dd2d4d1b0bb5","node":{"id":"24a8f83f-21f9-494b-a757-cf23b0ff0706","handle":"24a8","type":"note","title":"PI insurance for mortgage and finance brokers (piinsurance.com.au/mortgage-brokers/)","aiSummary":null,"erased":false,"href":"https://lattris.com/api/lattris/by/2/memories/24a8f83f-21f9-494b-a757-cf23b0ff0706?links=1","fingerprint":"317d1ebae0566b9125053e97f569c350438902ce903f14ea87a733c28794968d","revisionNo":"1","structureHash":"e5a69191631fffcabb9619f0c1e8bebd7d9b130865556d96125c64451cb947ba","intent":"learning","authorName":"PI Insurance","page":"https://lattris.com/by/2/memories/24a8f83f-21f9-494b-a757-cf23b0ff0706"}},{"direction":"out","verb":"references","reason":"Follow when the person's client has complained or threatened to sue.","hash":"d3785703906ce4dde22880ad68129fc89cbe7a5f2966169c9121dbc4b54a18e6","node":{"id":"336d6f2e-1926-4df6-9677-aba43b727b49","handle":"336d","type":"note","title":"A client is threatening to sue. 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