Insurance Personal Sickness and $559 The cost of personal income and accident Accident/Income insurance (also called income protection insurance) will vary depending on the Basic policy, based on 80% of health history, the amount of individual’s income for 52 weeks, 30 day income insured, the period of time after an waiting period. Assumes driver is accident before benefits are payable and travelling intrastate only. the maximum period over which benefits are paid. Assumes driver has no pre-existing conditions. Maximum age limit of 60 years. These fixed costs have been calculated at 100%. Insurance Public Liability $474 Assumes policy for public liability claims up to $10 million. These costs have been calculated at 100%. Insurance $2,449 The rate is current as at 2018-2019 and is Workers’ Compensation subject to change. Assumed at the rate of 4.5% for the assumed labour rate of the The rate charged for workers’ business owner of $54,417. compensation insurance may vary depending on whether the vehicle is Assumes vehicle is primarily travelling short or long distances and travelling intrastate. whether the vehicle is travelling interstate. The rate may also vary depending on the claims history. driver’s Yard and Parking $2,460 The rate is based on $205 per month. GPS and Mapping System $256 The rate is based on a monthly rate of $21.33 Business Administration Costs $2,838 Accounting/bookkeeping fees may be lower if the business prepares its own BAS Includes maintenance of records, and accounts. preparation of tax returns, mobile phone charges, consumer price Mobile phone charges will vary index and sundry business depending on level of use. expenses. These fixed costs have Other costs: Professional association fees, been calculated at 100% accommodation costs, parking fees, bank charges, and other costs should be allowed
Insurance Personal Sickness and Accident/Income Basic policy, based on 80% of income for 52 weeks, 30 day waiting period. Assumes driver is travelling intrastate only. Assumes driver has no pre-existing conditions. Maximum age limit of 60 years. These fixed costs have been calculated at 100%. $559 The cost of personal income and accident insurance (also called income protection insurance) will vary depending on the individual’s health history, the amount of income insured, the period of time after an accident before benefits are payable and the maximum period over which benefits are paid. Insurance Public Liability Assumes policy for public liability claims up to $10 million. These costs have been calculated at 100%. $474 Insurance Workers’ Compensation Assumed at the rate of 4.5% for the assumed labour rate of the business owner of $54,417. Assumes vehicle is primarily travelling intrastate. $2,449 The rate is current as at 2018-2019 and is subject to change. The rate charged for workers’ compensation insurance may vary depending on whether the vehicle is travelling short or long distances and whether the vehicle is travelling interstate. The rate may also vary depending on the driver’s claims history. Yard and Parking $2,460 The rate is based on $205 per month. GPS and Mapping System $256 The rate is based on a monthly rate of $21.33 Business Administration Costs Includes maintenance of records, preparation of tax returns, mobile phone charges, consumer price index and sundry business expenses. These fixed costs have been calculated at 100% $2,838 Accounting/bookkeeping fees may be lower if the business prepares its own BAS and accounts. Mobile phone charges will vary depending on level of use. Other costs: Professional association fees, accommodation costs, parking fees, bank charges, and other costs should be allowed
Tandem-Tip-Truck-GVM-22.5-Less-Than-5-Years-Old-2018-2019.docx