Tax Audit Insurance

With the escalation in the number and frequency of tax and other audits on small businesses by the various State and Federal governments, the likelihood of facing the unexpected costs of incurring professional fees in response to such audits has never been greater.

Tax Probe Plus covers your professional fees reasonably and necessarily incurred as a result of an audit.

The types of audits covered include those conducted by the Australian Taxation Office as well as by a Commonwealth, State or Territory Department, Body or Agency.

Examples are State Revenue Offices (Payroll Tax, Stamp Duty) and WorkCover Authority. The Policy does not cover any superannuation compliance audits.

For the purposes of the insurance, fees in relation to professional advisers are defined as those paid to an accountant who is a member of a nationally recognised accounting body, registered tax agent or tax consultant.

The underwriter of this product is Vero Insurance Limited (formerly known as Royal and Sun Alliance Insurance Australia Limited). Vero is a major insurer in Australia and forms a significant part of the Australian Stock Exchange listed entity “ Promina Group Limited”.