Tax Audit Insurance

Audit activity is on the rise and anyone can be targeted.

Our Audit Shield service provides for the payment of professional fees incurred by a client when audits, inquiries, investigations, reviews or examinations (audi t activity) of lodged returns or financial compliance obligations are instigated by the Australian Taxation Office (ATO) and other government revenue authorities.

The cost of being properly represented can be quite considerable depending on the circumstances. Even a simple inquiry can require hours of work. Our Audit Shield service provides a fixed, cost effective solution to guard against these unbudgeted costs.

What is covered?

All professional fees, up to a prescribed limit (with no excess) are covered when you engage us in audit activity matters. When you choose to participate in our Audit Shield service you will receive the following benefits, plus more:

  • Protection from any unplanned professional fees resulting from audit activity.
  • A cost effective solution when compared to a standalone policy.
  • Retrospective cover, so all previously lodged returns are included.
  • The assurance that you are covered during a stressful situation.
  • A tax deduction should ordinarily be claimable for your participation fees.

Income Tax, GST, BAS, PAYG Withholding, Fringe Benefits Tax, Land Tax, Stamp Duty, Superannuation Guarantee, WorkCover and Self Managed Superannuation Funds (SMSFs) are just a few items included in the extensive Audit Shield service coverage!

All of our clients can take advantage of our Audit Shield service. Specific levels of cover are available for individuals, businesses and SMSFs.

Anyone can be targeted, even if their lodgements are accurate. Data matching capabilities are profound, and are increasing the level of audit activity of both compliant and non-compliant taxpayers. With this in mind, we offer you the opportunity to protect yourself with Audit Shield.

If you would like to know more about our Audit Shield service, please contact us.

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