Did you know that The Australian Taxation Office (ATO) uses more than 600 million pieces of third-party data to track activity and income? That’s why everyone is at risk of an audit, enquiry, investigation or review… regardless of how accurate your lodgement is, or how good an Accountant you have!
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 by the ATO or other government revenue agency.
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;
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. And payment for your participation is, of course, tax deductible.
Is it right for you?
All our clients can take advantage of our Audit Shield service, with specific levels of cover available for individuals, businesses and SMSF’s.
With the ATO’s profound data-matching capabilities increasing the level of audit activity of both compliant and non-compliant taxpayers, get some peace of mind and protect yourself with Audit Shield. Just call us on 9887 8751 or send us an email and we’ll get you covered.