The Australian Taxation Office (ATO) uses more than 600 million pieces of third-party data to track activity and income, which is why everyone is at risk of being selected for an audit, enquiry, investigation or review… regardless of how accurate your lodgement is, or how good an Accountant you have! Our Audit Shield service covers you for the payment of professional fees incurred during a review process instigated by the ATO or other relevant government revenue agencies.
The cost of being properly represented during an audit can add up pretty quickly, when even a simple enquiry can sometimes require hours of work. Our Audit Shield service provides a cost-effective solution to guard against these unbudgeted costs if a current or retrospective tax audit is sprung on you.
What is covered?
All professional fees are covered when you engage us in audit activity matters, with no excess to be paid. 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 stand-alone policy;
- Retrospective cover, so all previously lodged returns are included (even if they weren’t lodged through us);
- The assurance that you are covered during a stressful situation;
- Payment for your participation is tax deductible.
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.
Is it right for you?
All of our clients can take advantage of our Audit Shield service, with specific levels of cover available for individuals, businesses and SMSFs.
Data matching capabilities are profound, and are increasing the level of audit activity of both compliant and non-compliant taxpayers, which is why anyone can be targeted – even if their lodgements are accurate. With this in mind, we offer you the opportunity to protect yourself with Audit Shield.
If you’d like peace of mind with our Audit Shield policy, just call us on 9887 8751 or send us an email and we’ll get you covered.