25 August 2011
Every year the ATO announces its target list for tax audit, an expensive and time consuming process for small businesses who find themselves under the ATO’s spotlight.
Bates Cosgrave has worked with several of our clients through the process of being audited, for which they have not had to pay fees thanks to audit insurance. We’ll be sending out letters for renewal of your audit insurance in the coming weeks if you hold a policy through us.
If you’re not insured or you’d like to know more about audit insurance, you can find out more about what you’re covered for by downloading our audit protection factsheet.
Whether you’re a sole trader or running a $1-3 million business, audit insurance is a tax deductible cost that can provide you with peace of mind if the auditors come knocking, that your position can be properly defended without busting the bank balance.
Contact us on 02 9957 4033 or via our contact form for more details about what you can and should be covered for.
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This article is provided for information purposes only and correct at the time of publication. It should not be used in place of advice from your accountant. Please contact us on 02 9957 4033 to discuss your specific circumstances.