15 Feb 2021
Tax Talk | Key upcoming tax items
With 2021 getting off to a roaring start, there are a number of tax issues which you may need to consider....
Audit Shield
Audit Shield is an optional Tax Audit Insurance designed to cover professional fees incurred if you are selected for an Inland Revenue audit, enquiry investigation or review.
The cost of being properly represented can be quite considerable depending on the circumstances. Even a simple enquiry can require hours of work. Our Audit Shield Master Policy provides a fixed, cost effective solution to mitigate these unbudgeted costs.
What is covered?
All professional fees, up to a prescribed limit (with no excess) are covered when you engage us in audit activity matters. When you choose to participate in our Audit Shield Master Policy you will receive the following benefits, plus more:
- Protection from any unplanned professional fees resulting from audit activity.
- A cost effective solution when compared to a standalone policy.
- Retrospective cover, so all previously lodged returns are included.
- The assurance that you are covered during a stressful situation.
- Payment for your participation is tax deductible if you are in business or self employed.
Is it right for you?
All of our clients are invited to participate in our Audit Shield Master Policy. Different levels of cover are available for salary and wage earners and businesses with turnover under $100 million.
Anyone can be targeted, even if their lodgements are accurate. Data matching capabilities are profound, and are increasing the level of audit activity of both compliant and non-compliant taxpayers. With this in mind, we offer you the opportunity to protect yourself with Audit Shield.
Want to know more?
Contact your advisor for more information.
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Tax
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