Is Your Business Protected Against an ATO Audit?

Tax audits and compliance reviews are becoming more common as the ATO increases its focus on small and medium businesses. Even if your accounts are 100% accurate and compliant, being selected for an audit can still be a time-consuming and costly process. This is where audit insurance comes in.

What is Audit Insurance?
Audit insurance covers the professional fees incurred if your business is subject to an audit, review, or investigation by the ATO or other government agencies. This includes costs associated with your accountant, tax agent, or legal advisors responding to the audit, ensuring compliance, and handling the extensive paperwork involved.

Why Should You Consider It?
Audits can be triggered for various reasons—random selection, industry benchmarks, data mismatches, or government crackdowns on certain deductions or claims. While you may not owe extra tax, responding to an audit requires time, expertise, and resources, and these professional costs can quickly add up. Audit insurance ensures you’re covered so you don’t have to worry about unexpected expenses.

What Does It Cover?
Most audit insurance policies cover the professional fees related to:
✅ ATO tax audits & reviews (Income Tax, GST, PAYG, Superannuation, FBT)
✅ WorkCover & Payroll Tax audits
✅ State revenue office investigations
✅ ASIC compliance audits

Peace of Mind for Your Business
Think of audit insurance as a safety net—you may never need it, but if you do, it saves you from significant financial stress. If you’d like to discuss whether this is the right option for your business, feel free to reach out—we’re happy to help!

If you are unsure, give us a call on 02 4044 1245 or chat to our prefferred Audit Insurance provider: Accountancy Insurance.