Over the weekend the NSW Government announced further Covid Business Support along with the extension of the Fees & Charges Rebate and Commercial Landlord Fund. We will contact you with more information once Service NSW releases the details on these support measures.
 
Revenue NSW have announced that they have commenced audits of the 2021 JobSaver Payments, COVID-19 Business Grants, Micro-Business Grants, Accommodation Support Grant & Commercial Landlord Hardship Fund on behalf of the NSW Government.
 
If you or your business is selected for a review, you may be contacted to provide further documentation to support your eligibility for payments you received.
 
If you haven’t already, we recommend you participate in our Audit Shield Service.

Benefits of the Audit Shield Service:

• In the event that you are subject to an audit or review (including ATO, Revenue NSW, Workers Compensation) in relation to your lodged returns, the associated professional fees (up to a set limit) to address the audit are covered.
• Previously lodged returns are covered automatically.
• The offering is optional – there is no compulsion to participate.

Important information about our Audit Shield service:

• We hold a tax audit insurance policy in our business name. By proceeding with our Audit Shield service, we will include you and your entities in our policy.
• The policy we hold is a group policy underwritten by AAI Limited (trading as Vero Insurance).
• Payment is tax deductible. In addition, included in your payment is a fee payable to us. This is simply used as recovery of our administrative costs for managing this service.
• You can benefit from the service on the proviso that we are acting as your registered tax agent.
• Participation in this service is not automatic. Protection will commence on the next business day after we have received your payment and expires on 30 September 2022.

Please contact us if you would like us to send you a pro-rated invoice for Audit Shield cover. 

 For more information from Revenue NSW, please clic here.