Tax Probe Insurance

The Tax Commissioner has predicted that almost 15% of small to medium businesses will be subject to the ATO’s compliance program, including some form of tax audit.

Dealing with audits is a time consuming, stressful and expensive affair that could leave you with an unexpected bill of tens of thousands of dollars.

That’s why insurers have designed Tax Probe Insurance. This 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, and Payroll Tax Audits
- 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

The cost of the policy is low compared to the potentially significant costs to your business that an audit may involve. Remember that insurance premiums are usually tax deductible as a business expense

To protect your business, speak to ii-A today.

Our contact details:

Phone number: 1300 00 2481
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