Audit Shield

What is the Audit Shield Service?

Every good accountant aims for perfection when preparing their client’s tax returns. However, even with 100% accuracy accountants and their clients can still come under scrutiny by the Australian Taxation Office. Our Audit Shield service provides for the payment of professional fees incurred in the event that you are selected for an audit, enquiry, investigation or review instigated by the ATO or other relevant Australian Government authorities. The cost of being properly represented can be quite considerable depending on the circumstances. Even a simple enquiry can require hours of work. Our Audit Shield service provides a fixed, cost effective solution to guard against these unbudgeted costs.

What does Audit Shield cover?

All professional fees, up to a prescribed limit (with no excess) are covered when you engage us in audit activity matters. When you choose to participate in our Audit Shield service you will receive the following benefits, plus more:

  • Protection from any unplanned professional fees resulting from audit activity
  • A cost effective solution when compared to a standalone policy.
  • Retrospective cover, so all previously lodged returns are included.
  • The assurance that you are covered during a stressful situation.
  • Payment for your participation is tax deductible.

Income Tax, GST and BAS, PAYG Withholding, Fringe Benefits Tax, Land Tax, Stamp Duty, WorkCover and Self Managed Superannuation Funds (SMSFs) are just a few items included in the extensive Audit Shield coverage!

Is Audit Shield right for you?

All of our clients can take advantage of Audit Shield. Specific levels of cover are available for salary and wage earners, businesses and SMSFs. Anyone can be targeted, even if their lodgements are accurate. Data matching capabilities are profound, and are increasing the level of audit activity of both compliant and non-compliant taxpayers. It is not a reflection on the quality of work from your accountant. With this in mind, we offer you the opportunity to protect yourself with Audit Shield.

For more information on how you can participate in our Audit Shield service, contact us.