ATO’s data matching capabilities are becoming more and more sophisticated, which makes it simpler for tax payers to encounter audit activity, despite compliancy.
Here are some key features and benefits of AuditShield insurance:
- It covers investigations related to Capital Gains Tax, GST, Income Tax, Workers Compensation, Superannuation Guarantee and more.
- It covers audits for previous years too (e.g for 2017, 2019 FY and so on)
- The premium is tax deductible.
It’s important to note that AuditShield insurance does not cover any additional taxes, penalties, or interest that may be imposed by the ATO as a result of the audit or review. Its primary purpose is to cover the professional fees (e.g accountant or lawyer) incurred in managing the process.
Please read the AuditShield Information Brochure or feel free to contact us for more information.