What is Tax Audit Insurance ?
Tax Audit Insurance is designed to cover your business for professional fees associated with tax audits, and official investigations of your tax affairs.
It is available as stand-alone cover, or can be purchased as a section in many of our Steadfast Worded Business Insurance packages for small to medium businesses or individuals.
Who and What does it Cover ?
Tax Audit can cover you, your business, your business and directors, or your self-managed superannuation fund, for what could be significant professional fees incurred as a result of an external audit.
It offers cover for professional fees associated with audits and other official investigations, such as:
- Australian Tax Office Income Tax Audit
- Fringe Benefits Tax Audit and Capital Gains Tax Audits
- WorkCover Authority Audit of WorkCover returns
- Payroll Tax Audits.
- Business audit only (with investigation cover); or
- Business AND directors audit (with investigation cover); or
- Individual cover; or
- Superannuation cover (for self-funded superannuation funds).
- Standard cover for tax audits or other official investigations into your liability to pay designated tax carried out by any Commonwealth, State or Territory department, body or agency.
- Optional cover for the audit of business directors’ own tax returns
- Travel and accommodation expenses incurred in the process of the audit or investigation of tax affairs
- Stand alone cover includes the option to cover the audit of self-managed superannuation funds under the Superannuation Industry (Supervision) Act.
What Does it Cost ?
As little as $300 per year, for full business coverage, potentially saving $10,000’s in audit preparation and defence expenses.
Obtaining a Quote
- Client Name, ABN & Address
- Business Type / Occupation
- Number of Staff