Have you noticed that the taxman’s been getting tough lately? The ATO has been a regular feature in the media, as government agencies continue to allocate additional resources for audit activity and continue to refine their data matching capabilities, so it’s becoming increasingly likely that clients will receive some form of audit or enquiry from a government agency.[1]
If your business or individual return is subjected to a random audit, review or investigation, you are responsible for the costs involved in providing the required information. Even the simplest enquiry can require hours of work. In some cases, when there are complex environments, unusual circumstances, multiple years or multiple companies and trusts, thousands of dollars in accounting and legal fees can be incurred.
We have responded to this growing threat by finding you the best tax audit insurance available and are pleased to offer to you and your business our Audit Shield Service. The Audit Shield Service is tax deductable for businesses and self-employed providing you with comprehensive relief from audit, review and investigation costs. It covers:
[1] Brown, Bina "Careful, the taxman has your number" The Financial Review, 9 June 2012 viewed online
As predicted by almost every significant media outlet, the treasurer has announced a federal budget surplus of $1.5 billion for the 2012-13 year. A budget surplus is viewed by many in the community, perhaps a majority, as a good thing and therefore it is curious that the budget, at first glance, has a 'flat' feel to it. Could this be because the budget both gives and takes away with equal gusto? Read Full Article »
Proposals from our Federal Government Budget for Small Businesses... Read Full Article »
Proposals from our Federal Government Budget for Individuals... Read Full Article »
1