Professional Indemnity Insurance – What Can I Claim?
You can salary package the cost of professional indemnity insurance premiums that relate to your work activities using pre-tax income if your employer offers this benefit, the policy covers liabilities owed to third parties arising from the professional services you provide, and you have paid the premium directly.
What you can claim
- Professional indemnity insurance premiums paid by you
- Policies that cover liabilities owed to third parties, such as a client, arising from professional services you provide
- Premiums where you can provide the current policy document and proof of payment
What you can't claim
- Insurance that was not paid directly by you
- A policy that does not relate to professional indemnity cover for professional services
- Claim without a current insurance policy document and proof of payment
Documentation Requirements
What documents do I need?
You’ll need a copy of your current professional indemnity insurance policy, either for a new policy or renewal. The policy should show your name, the insurer’s name, the policy type, the premium amount, and any stamp duty or GST if available.
What proof of payment can I provide?
You can provide a receipt, BPAY payment confirmation, direct debit details shown on the policy document, or a financial institution statement showing the direct debit payment(s).
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Examples
Can I salary package my professional indemnity insurance premium?
Emily paid her professional indemnity insurance premium directly, and the policy covers liabilities arising from the professional services she provides. Professional indemnity insurance is an eligible expense, so Emily can submit a claim as long as she provides a copy of the insurance policy, along with proof of payment.*
Can I claim insurance paid by someone else?
Noah has a professional indemnity insurance policy in his name, but the premium was paid by another person. Professional indemnity insurance premiums can only be claimed when paid directly by the claimant, so Noah cannot submit a claim for this expense.*
Can I claim without the policy document?
Sophia paid her professional indemnity insurance premium directly but does not have a copy of her current policy document. Professional indemnity insurance claims require both the current policy document and proof of payment, so Sophia cannot submit a claim until she provides the required supporting documentation.*