Our Audit Shield insurance service ensures coverage for the payment of professional fees that arise if you are chosen for an audit, enquiry, investigation, or review initiated by the ATO or other pertinent Australian Government bodies.
Don’t find yourself without the safeguard of audit shield insurance; the expenses tied to obtaining proper representation can escalate significantly based on the situation. Even a basic enquiry can demand extensive hours of effort. Since 2003, Audit Shield has been a reliable guardian for clients. Each month, Audit Shield disburses over $1,000,000 in claim payments to its clients across Australia, New Zealand, and Canada.
When you engage us in audit activity concerns, we cover all professional expenses up to a certain level (with no excess). Our fees are covered, in addition to legal fees, bookkeeping fees, and any specialised professional advisor fees necessary to help us in responding. Audit Shield is retroactive, which means that it covers all previously filed returns. Audit Shield Insurance protects you against audits, inquiries, investigations, and reviews of:
Income Taxes, Payroll Taxes, Capital Gains, Keeping Tax Records, GST & BAS, Land Tax, Stamp Duty, SMSFs, Employer Obligations, PAYG, FBT, Guarantee of Superannuation, Workers Compensation / WorkCover, Tax Break for R&D (ATO Only)
Audit Shield is available to all of our clients. There are many levels of coverage available for salary and wage individuals, various-sized enterprises, and SMSFs.
Anyone can be targeted, even if their reports are correct. It has nothing to do with the calibre of your accountant’s job. With this in mind, we provide Audit Shield, which allows you to defend yourself. You should assess if it is appropriate for your circumstances, just like any other sort of insurance.
- There are no unanticipated costs.
- Coverage for your whole group, not just the primary entity (subject to client group 25% ownership limits)
- Coverage for filed taxes for the current and past years.
- A comprehensive policy framework. Audit Shield continues to be one of the most comprehensive and cost-effective coverages on the market.
- Each year, data matching among Australian Government Authorities grows increasingly advanced. This makes it easier and significantly more probable for previously untargeted taxpayers to be audited despite compliance. With the Audit Shield service, you can be confident that our professional costs will be paid, as well as the accounting and taxes work associated with audit activities. These fees are frequently higher than the fees we may charge you for completing the return (s).
Audit Shield Insurance costs $107 for individual salary and wage workers, $340 for SMSFs, and as little as $341 for a small firm with less than $500,000 in turnover. The cost of company audit shield insurance is determined by the total revenue of your business group. All Audit Shield Insurance costs are GST included and subject to change.