Are you an Audit Target?
Whilst historically Tax Audits were targeted at big business and the wealthy, this has changed. Increasingly the ATO and other Government Agencies are turning their attention to both small to medium businesses and individuals, particularly those who own rental properties, operate trusts, and/or have a Self Managed Super Fund. Tax Audit Insurance can help protect you if the tax office calls!
Why Purchase Tax Audit Insurance?
Tax Audit Insurance protects you from the unexpected costs incurred in responding to a compliance audit or an audit of a return you have previously lodged (e.g. Tax Return), reimbursing you for related professional fees and associated costs.
Why purchase your Tax Audit Insurance through Express Insurance?
We have partnered with Agile Underwriting Services to provide this Tax Audit insurance.
With Express Insurance, you can source an Tax Audit Insurance quote in seconds. You can then proceed to buy the insurance and produce your Certificate of Insurance in minutes, or alternatively save the quote back to your email account for buying later.
And we save your details on Renewal of your insurance, making the process of renewing your Tax Audit Insurance even easier and quicker. Throughout your experience with us our team of highly experienced Audit Insurance specialists are a phone call away!
Tax Audit premiums are determined by the sum insured selected and the mix of entities being insured.
We believe we have negotiated highly competitive premiums for Tax Audit Insurance and will continue to monitor premium levels available in the market to ensure this remains the case.
Premiums vary between states as a result of differing stamp duty rates, however our minimum Total Premiums for Audit Insurance ($10k cover) start from $180.35 (incl. GST).
The audit process can be very time-consuming including preparation time and time responding to audit findings. Related professional fees can be expensive, depending on the type of audit and the number of periods being audited. The most common Audits are those undertaken by the ATO in relation to personal or business returns, however compliance audits are also becoming more common, particularly those in relation to Payroll Tax obligations.
We have designed the Insurance application process so it only takes an average of 5 minutes to complete your application. In most cases your application will be instantly approved online, and you can print your Confirmation of Insurance to prove that you have the requisite cover in place... It's that easy!! All other documentation, such as your tax invoice, policy schedule and wording will be emailed directly to you for your records.
If the policy can't be issued immediately because we require further information, we will contact you generally on the same day.
Approximately one month prior to the renewal of your policy you will receive a renewal reminder email with a link that will allow you to review your previous years cover and renew the policy even quicker!
* We have minimized the number of referral situations so that most applications will be automatically accepted. However, if for example you have prior claims we will contact you to facilitate completion of your application personally with the Insurer.
Our Tax Audit Insurance is arranged by our partner Agile Underwriting Services P/L (ABN 48 607 908 243 AFSL 483374) and the insurer is Lloyd's of London.
Lloyd's is regulated in Australia by APRA and is one of the world's largest insurance markets.
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We will work with you to ensure that claims are handled in a professional manner and that you get a fair outcome from the Insurer. The first step is to lodge your claim. Alternatively, if you would prefer we lodge this claim on your behalf please email us: email@example.com