Hi guys,
Just got a letter from my property manager advising us to take out Workers’ Compensation Insurance.
It says from Nov 2004 “working directors” of companies will no longer be able to obtain workers compensation cover through their own company. However, if they are injured whilst working for the purpose of the trade or business of a Principal then the working director will be able to claim compensation benefits from that Principal.
If a working director carries out work on an investment property then the owner of that property may well be liable to pay compensation benefits if the director sustains injury.
We strongly recommend that you purchase workers’ compensation insurance to protect yourself from this potential liabilty.
Has anyone taken out this insurance?
Thanks, Mei
Is this in WA..
It’s still up in the air from what I’ve heard??
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorHi Redwing,
Yes, in WA.
Mei
I’d wait and see what the outcome is..one of my PM’s notified me about 8-9 months ago..and suggested we get it, speaking to our other PM’s..the whole thing is still ‘up in the air’.
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorThanks again Redwing,
We’ll wait and see what the outcome is as well.
Mei
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