Tax Audit Insurance

Tax Audit Insurance helps cover the professional fees associated with responding to audits, reviews, investigations and verification activities conducted by the ATO and, in some cases, state revenue authorities.

Being selected for an audit doesn't necessarily mean you've done anything wrong. The ATO conducts reviews and compliance activities across all industries and business sizes as part of its regular operations. But regardless of the reason, responding to an audit requires time, documentation and often professional assistance - all of which come at a cost.

Even straightforward reviews can require hours of preparation, record gathering and correspondence. More complex investigations can stretch over months and demand significant input from accountants, tax agents and legal professionals. Without appropriate cover, these costs fall directly on your business.

Cover may include the costs of engaging accountants, registered tax agents, bookkeepers and tax lawyers to prepare documentation, provide advice and respond to requests from the relevant authority. These professional fees can accumulate quickly, particularly in detailed or prolonged investigations.

Depending on your policy, coverage may extend to a range of ATO activities including general compliance audits, employer obligation reviews, GST verification, income tax reviews and more. Some policies also cover investigations initiated by state revenue offices, such as payroll tax or land tax audits.

At Maxton Insurance Brokers, we can help determine whether Tax Audit Insurance is suitable for your business and arrange cover that helps reduce the financial impact of unexpected audit-related expenses.

Because even when you've done everything right, proving it shouldn't put your business under financial strain.