Our philosophy includes helping you protect your assets so we offer our clients the opportunity to insure against the accounting costs you might incur in a tax audit. Below are some commonly asked questions regarding tax audit insurance.
The Australian Taxation Office (ATO) and other state and federal government agencies conduct audits, reviews and investigations to ensure business owners and taxpayers comply with all the various tax and legislative requirements including:
- Income Tax
- GST
- Workers Compensation
- SMSF
- Employer Obligations
- FBT
- Land Tax
- Payroll Tax
- Record Keeping
- Superannuation Guarantee
We can offer you an Audit Shield Service which can relieve you of these fees to a capped limit. The policy provides for the payment of the professional fees incurred as a result of you being selected for an audit, review or investigation by the ATO or other Government body. The Audit Shield Service provides a fixed, cost effective solution to guard against these costs.
The service covers all professional fees up to a prescribed limit (with no excess) when responding to, or representing you in an audit, review or investigation. These include not only our fees, but also legal fees, bookkeeping fees and specialist professional advisor fees (e.g. quantity surveyors, valuers, and actuaries).
