As your Insurance Broker, our goal is to provide coverage and services that benefit you. Considering it’s the end of financial year we have acknowledged that the Australian Taxation Office and other relevant government revenue agencies are active in conducting audit activity, so we proudly offer a Tax Probe Policy as a cost effective mechanism to protect you against unplanned professional fees such as Accounting and Legal fees which can arise as a result of an Audit.
It’s important to note coverage is for Individuals, Small to Medium Enterprises, Directors & Superannuation Funds.
Features of the Tax Probe Policy include
The costs of an audit can escalate to very high. This is often an unbudgeted expense which can run in to thousands of dollars, as shown by some past claims paid:
Consultant
Audit Investigation Period: 50 months
Claim: $5,818
Tradesman
Audit Investigation Period: 12 months
Claim: $20,000
Wholesaler
Audit Investigation Period 1: 15 months
Claim 1: $20,450
Audit Investigation Period 2: 48 months
Claim 2: $10,000
Audit Investigation Period 3: 12 months
Claim 3: $33,000
It’s important to note coverage is for Individuals, Small to Medium Enterprises, Directors & Superannuation Funds.
Features of the Tax Probe Policy include
- 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)
The costs of an audit can escalate to very high. This is often an unbudgeted expense which can run in to thousands of dollars, as shown by some past claims paid:
Consultant
Audit Investigation Period: 50 months
Claim: $5,818
Tradesman
Audit Investigation Period: 12 months
Claim: $20,000
Wholesaler
Audit Investigation Period 1: 15 months
Claim 1: $20,450
Audit Investigation Period 2: 48 months
Claim 2: $10,000
Audit Investigation Period 3: 12 months
Claim 3: $33,000
Annual policies start from $200 and are worth the peace of mind. If you wish to discuss it further or would like a quotation please don’t hesitate to contact us.
