Why buy
Tax Audit Insurance ?
If your business is subjected to an audit by tax authorities the policy will help cover the cost of professional fees and other expenses for that audit. A tax audit can be a stressful event for a small business; and therefore a Tax Audit policy provides peace of mind and enables you to focus on managing and building your business.
What is Tax Audit Insurance ?
Covers the costs associated with a tax audit, in particular accountants’ fees.
Tax Audit claims example
A small business owner failed to deal correctly with sub-contractors’ superannuation entitlements, this triggered an audit from the ATO with $20,000 in costs.
What is Covered?
Tipically it covers things like:
Professional fees of accountants, lawyers and others
Expenses of actuaries and valuers
What is not covered?
Examples of typical exclusions are:
Investigations regarding returns which were not prepared by an accountant or other tax professional
Fines or penalties imposed on you
Contact
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