Tax Audit Insurance protects a business from unexpected costs incurred in the event that it is selected by the Australian Tax Office (ATO) for compliance auditing. An audit insurance policy covers the costs of accountants, other professional fees and associated costs incurred in the course of an audit.
Increasingly, the ATO are focusing on small to medium businesses and individuals, particularly those with more complex affairs such as trusts, self managed super funds and rental properties. Conducting an audit can be time-consuming, depending on the type of audit and timeframe being audited, and therefore potentially expensive.
In a competitive market, we suggest Express Insurance as a solution to provide small business operators with audit insurance.
Key policy features are:
- Cover for all accounting fees and related costs incurred in responding to an audit or compliance obligation by a government authority.
- Underwritten by leading Australian Insurer CGU
- Policy limit options from $10,000 to $50,000
- Nil excess
- Specific tax audit policy wording
The application process is quick and easy with the option to add multiple entities to one policy and the cost is competitive.
Visit Express Insurance to start a quote and find out more about this audit insurance solution.