Tax Audit Insurance
Tax audits are an in-depth examination to verify the accuracy of information reported to the Australian Tax Office (ATO) or other authorities. Each year, the ATO continues to announce increases in their audit activity as they target “dodgy” and inconsistent claims.
When you or your business is audited, documents detailing company structures, ownership entities, financial flows, asset acquisitions and more may need to be compiled. Explanatory notes and detailed calculations might be required to support claimed deductions, and legal interpretations and justifications may also need to be provided. This is not only time-consuming, but often requires the services of professionals such as accountants and lawyers and can cost thousands of dollars.
Tax Audit Insurance protects you and your business from the cost of an unexpected audit. We have offered all of our clients a comprehensive Tax Audit Insurance policy with a competitive premium. As a 100% Australian owned insurer, you can trust that you’ll be supported by a team of specialists that understand the Australian tax system.