Q. Many businesses are exposed to the costs of an audit of financial or tax affairs by the Australian Tax Office or other authorised body. Could your business handle the unexpected and significant costs associated with an Australian Tax Office audit?
A. You can include Tax Audit cover in your Allianz Office Pack to protect yourself against this risk.
| Tax Audit provides cover for the professional fees incurred within the Commonwealth of Australia in connection with an audit of the business’ financial or tax affairs by the Australian Tax Office, or by a Commonwealth, State or Territory Department. |
Our Tax Audit section insures your business for the professional fees reasonably and necessarily incurred in connection with an audit of your business’s financial or tax affairs
Financial or tax affairs relate to:
- Income tax
- Fringe benefits tax
- Capital gains tax
- Wholesale and sales tax
- Payroll tax
- Goods and services tax; and
- Superannuation contributions tax
| Professional fees include:
- Fees paid to tax agents, financial advisers, accountants or solicitors who are not your employees, for the preparation or evidence to be submitted to the auditor
- Fees changes to you for preparation of evidence by your financial service providers
- Overtime paid to employees to prepare for or to represent you in any audit
- Travelling and accommodation expenses incurred by you or your employees in order to attend an audit
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The information provided above is intended as a summary only. For full details of cover, conditions and exclusions relating to Allianz Office Pack, please refer to the
product disclosure statement.