Tax Audit Insurance

IPA Insure’s Tax Audit Insurance offers you and your clients protection from the costs incurred in unexpected tax and government audits.

The possibility of being subject to a random audit is increasing every year. Responding to official queries and audits can be stressful and costly to your business. You could risk damaging client relationships by submitting unexpected invoices (that could run into thousands of dollars) or you may need to write off chargeable hours, costing you valuable time and money.

Some of the benefits include:

  • Protection for clients in the event of an audit
  • Valuable, cost effective and affordable cover for clients
  • Simple implementation saving you and your clients time and money
  • Protection for your business against the cost of audits.

TAX AUDIT INSURANCE CHECKLIST

We offer comprehensive Tax Audit Insurance to cover:

  • The widest range of ATO, federal and state investigations
  • Accountancy fees incurred in responding to enquiries, questionnaires, audits, reviews and investigations of clients’ lodged returns, including those from previous years
  • Private and public entities as well as Self Managed Super Funds
  • High turnover entities, currently up to $50 million
  • Multiple shareholders (need to be a 50% shareholder to be included under the head entity’s cover) ensuring protection for larger entities
  • Specialist professional fees if tax and superannuation advice or a legal opinion is required
  • All of a client’s commonly owned legal entities, directors and their families under one premium
  • No excess to pay on legal or accountancy fees involved in an audit, including legal defence and appeals.

SEAMLESS INTEGRATION

Implementing Tax Audit Insurance is easy and will integrate seamlessly into your management systems. You will be provided with streamlined administration, effective reconciliation and reporting. Client information is protected with no offshore handling of data. Claims are processed efficiently and disputes are rare.

You can offer your clients valuable cover at competitive and affordable rates.
It’s simple for clients to apply and receive immediate cover.

By introducing Tax Audit Insurance to your clients, you can generate an additional, regular income stream. The average take-up rates average take-up rates are between 15% and 30% across different business types.

TO REGISTER

To take advantage of this quality service, follow these simple steps.

  1. Complete the Referrer Application Form
  2. A Referrer number will be issued to you from IPA Insure
  3. You will receive a fulfilment letter to send to clients
  4. Clients complete a simple application to take up Tax Audit Insurance.

If you would like to know more about Tax Audit Insurance call the IPA Insure team on 1300 413 143 or email enquiries@ipainsure.com.au 

AB Phillips Pty Ltd T/as IPA Insure (ABN 91 007 075 934 | AFSL 234457)

Financial Services Guide