Through our trusted partner Accountancy Insurance, we can offer you peace of mind that should the ATO target you, we are available to assist you at no cost.
This is done in the form of insurance. For a small annual fee, our insurance provider will pay for the professional fees incurred in defending an audit. This means that you can effectively hand over the audit to us knowing that it won't cost you a cent to deal with.
A typical ATO audit that is primarily dealt with by an accountant can end up costing thousands of dollars in fees. Often an audit starts out as an audit of one area (e.g. GST) and as issues are uncovered the range is expanded to include other areas (e.g. superannuation). As such, the costs of dealing with an audit can spiral out of control very quickly.
ATO audits aren't the only ones covered, audits initiated by other government or statutory bodies such as State Government payroll tax and Workcover are also included in the policy.
To discuss how audit insurance can benefit you further, and/or to get a quote, please contact us.
It is important to note that only professional fees in dealing with the audit are covered, not any taxes, penalties, or other amounts payable resulting from the audit.