Audit insurance

Audits by nature can be very time consuming and costly, and given the increase in ATO audit activity we have taken out audit insurance and offer the audit protection service to all of our clients.

The insurance is fully tax deductible and in the event of an audit will cover the accounting fees which relate to attending to an audit, review or investigation by the ATO or any other Government bodies within the insurance policy guidelines.

The following audits, reviews and investigations are covered;

• Income Tax
• GST & BAS
• PAYG Withholding
• Superannuation Guarantee
• Fringe Benefits Tax
• Payroll Tax
• Land Tax
• Stamp Duty
• Work Cover/Workers Compensation

Also the policy covers other professional fees including legal, bookkeeping and specialist professional advisers such as quantity surveyors, valuers and actuaries up to the specified limit with no excess.

Below is a table of the estimated cost dependent on your category:

The ongoing fact sheet can viewed here or follow the ‘Risk review and audit processes’ link for more information on the ATO audit process.

For more information today please contact Patane Accounting.

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We also offer services in;

• Accounting Services
• Audit Insurances
• Business Advisory
• Corporate Secretarial
• Fringe Benefits
• Business Activity Statements
• MYOB Professional Partner
• Rental Properties
• SMSF Taxation and Administration
• Software Support
• Specialist Services
• Taxation Services
• Xero Partner