Whilst Tax Audits were historically targeted at big businesses and the wealthy, increasingly the ATO and other government agencies are turning their attention to small to medium businesses and individuals, particularly those who own rental properties, operate trusts, and/or have a self-managed superannuation fund. When you couple this with the fact that the rate of random audits is increasing, there has never been a better time to get audit protection.
Why purchase Audit Insurance?
The audit process can be very time consuming with the preparation time and time it takes in responding to audit findings. The professional fees involved can quickly run into thousands of dollars.
Audit Insurance protects you from these unexpected costs.
- Covers costs associated with responding to any official inquiry, investigation, review, examination or audit conducted by a government authority
- Provides the ability to cover your family members, trusts, SMSFs, and/or business under one policy
- Provides the flexibility for you to choose the level of cover you are comfortable with
- Policy limit options ranging from $10,000 to $50,000
- Premiums are fully tax deductible
- No claims excess
- Covers audits for prior returns submitted on behalf of the Insured
Contact us to discuss your needs:
+61 3 9810 0700