Tax Audit Insurance

August 16, 2023

As you may be aware, the Australian Taxation Office (ATO) was recently allocated substantial funds from the federal budget to increase tax compliance. In short, this means we should expect increased tax audit activity. We have also continued to see a steady number of audits in the areas of payroll tax and workers compensation.

 

This year we have partnered with AuditCover to provide our clients with a quote for Tax Audit Insurance.

Tax Audit Insurance

Benefits of AuditCover tax audit insurance

  • AuditCover tax audit insurance will cover professional fees (up to a set limit) to assist in responding to an audit in the following areas:
  • Income Tax
  • Capital Gains Tax
  • Land Tax
  • BAS/FST Compliance
  • Payroll Tax
  • Superannuation Guarantee
  • Workers Compensation
  • Fringe Benefits Tax
  • Stamp Duty
  • The cost of your policy is fully tax deductible
  • previously lodged returns are covered automatically
  • offering is optional


Important Information

  • Please note that we have changed audit insurance providers this year and soon you will receive a quote from AuditCover.
  • If you took up cover last year, you will receive a quote prior to your current cover expiring on 30 September 2023.
  • Please note that you will receive 3 automated reminders to ensure you don't miss out.
  • Please review the quote when received and ensure you review your details and level of cover. You can make changes to the policy quote prior to acceptance and payment.
  • Please note that the level of cover defaults to the middle bracket in the pre-filled quote so please review this before you accept and payment.
  • As you will own the AuditCover policy, you may choose to add your related entities and individuals, even if they are not SaabTeece clients. Please note that the ‘group’ will be subject to the selected level of cover.
  • The policy starts from the day you make payment.


To ensure that AuditCover is right for you, we recommend you read their policy wording for full details, terms, conditions, exclusions and definitions


If you have any questions, please feel free to contact AuditCover on 1300 895 797 or contact our office for any other enquiries.


Kind regards,

 

SaabTeece

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