The ATO continues their high volume audit activity on individuals, businesses and Self-Managed Superannuation Funds. Robson Partners offers insurance against audits from the ATO, The Office of State Revenue and WorkCover, that protect you for up to $30,000 in professional fees should we have to respond to any audit on your behalf.
The ATO is now using sophisticated data matching technology which enables it to bring together the information from a range of government departments, and other third parties, to cross check personal and business records.
Unfortunately, should you be the subject of a random audit, review or investigation by the ATO, or indeed any government agency (e.g. WorkCover, Office of State Revenue, etc.), you will incur costs, which could be significant. Even if there are no adjustments to the return, there would still be costs (fees) associated in the preparation of material for the ATO, or the agency involved, and managing the response process.
For this reason we have taken out Audit Insurance (Audit Shield) in our own name, to cover the professional fees incurred in preparing all relevant documentation and responses to the ATO, or any other Government Agency, conducting an audit, review or investigation. This Audit Shield policy, underwritten by AAI Limited trading as Vero Insurance (a division of Suncorp Group Limited), covers these costs (up to a prescribed limit) relating to both the current and all previous years' lodged returns.