Brilliant Money Solutions | Tax Agent | Accountants | Business Advisors
Brilliant Money Solutions | Tax Agent | Accountants | Business Advisors
Brilliant Money Solutions | Tax Agent | Accountants | Business Advisors
Tax Agents Insurance

The Australian Tax Office continues to announce significant inceases in their audit activity. Now more than ever individuals, businesses and Self Managed Superannuation Funds are at risk of being selected for a random Audit, Review or Investigation.

Unfortunately, should you be the subject of a random audit or investigation by the ATO, or indeed any Government Agency (eg WorkCover, Payroll Tax ) you will incur additional costs. Even if there are no adjustments to the return, there would still be costs associated in the preparation of material for the ATO, or the agency involved, and the managing of the response process.

For this reason we have taken out Audit Insurance 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 policy, covers these costs (up to a prescribed limit ) relating to the current and all previous year's returns.

This cover does not automatically extend to all clients, however we can add your account (on payment ) to the list of clients participating in this service. In the event that you are subsequently subject to an Audit, Review or Investigation, we will then seek to claim our fees (up to the maximum sum insured ) from the insurance company.

We consider this service to be a very effective way of planning for the professional fees for which you would be liable in the event of an Audit, Review or Investigation. The fee is fully tax deductible.

If you wish to participate, need more details or have any queries in respect to this cover, you simply need to contact our office. Phone 4041 2453 or email
admin@bmstax.com.au

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