Tax Audit Insurance

The ATO is continually increasing its audit activity, putting individuals, businesses, SMSFs and trusts at risk of being selected for a random audit or review. The Australian Tax Commissioner predicts that 1 in 10 businesses will be subject to some form of tax audit.

If you are selected to be audited, your accountant’s fees can be as much as four to five times greater than the fee charged for the original work.

For information on the people and industries who are on the current “hit list”, contact us. 

Protect yourself from the financial impact of an audit by taking out Audit Insurance. This is an insurance policy that reimburses the professional fees that you incur from your accountant to assist you with the audit process.

The Benefits:

• Cost of taking up the cover compared with the cost of an audit
• Access at no additional cost to professional accounting services from Peter Vickers and Associates
• Avoid the stress caused by the financial impact of an audit
• No unbudgeted expenses to worry about
• Tax deductible premium