Tax Audit Insurance

Policy Overview

Tax Audit Insurance provides essential coverage for businesses and individuals facing the scrutiny of a tax audit. Audits by the Australian Taxation Office (ATO) or other Commonwealth, State, or Territory bodies can be time-consuming and costly, often requiring professional assistance to navigate the complexities of compliance. Tax Audit Insurance ensures that the professional fees associated with responding to a tax audit, such as accountant’s fees or legal costs, are covered, helping to mitigate the financial burden of such an event.

This insurance covers the professional fees incurred during the audit of a lodged tax return, providing peace of mind when dealing with the authorities. The audit must be commenced and notified to the insurer during the active period of insurance for the policy to respond. The policy is designed to assist businesses and individuals by ensuring that any unexpected professional costs during the audit process are not an out-of-pocket expense, allowing you to focus on complying with the audit requirements.

Whether you’re a small business, self-employed, or running a larger enterprise, Tax Audit Insurance is a valuable tool to protect against the often-unexpected costs associated with tax audits. Having this coverage in place ensures that your business or personal finances aren’t disrupted by professional fees during what can be a stressful and time-consuming process.

The information provided on this page that may have been implied is General Advice only and does not take into consideration your specific needs, risk appetite or financial requirements. Please contact our office to discuss and review your needs and the appropriate financial product best suited to meet your requirements . Before purchasing any financial product, you should always read the Product Disclosure Statement to ensure the product is suitable for your needs.