Free Tax Audit Insurance? We've got you covered.
- gvfinancial22
- Mar 3, 2023
- 1 min read
Tax Audit Insurance covers professional fees in relation to a tax audit from the ATO or a State Government Tax Office.
It covers audits of GST/BAS forms, Income Tax Returns, Fringe Benefits, Payroll Tax, Land Tax and Self-Managed Superannuation.
During the COVID period, assistance including JobKeeper and Cashflow Boost were provided and tax collections dropped precipitously. This has led to massive budget deficits around the country. When all the COVID relief measures were announced, we predicted that eventually the tide would turn and the taxing authorities would aggressively chase money. It’s started already, with new Payroll Tax rulings and attacks on trust distributions and personal exertion income. We think it could get worse over the next few years.


Comments