Are you prepared for the costs of an audit?

Even if you are running your business above board you can still be selected for an audit by the ATO. Audits can be costly as you may need professional help in order to respond to the ATOs requirements. For individuals and entities that will be focused on this year by the ATO we recommend taking out audit insurance.

 

This year the ATO will be focusing on:

• – People who fail to declare all of their income
• – Property Related Tax issues
• – Self Managed Superannuation Funds
• – Employers who are not meeting their superannuation obligations

 

For information about audits and audit insurance call us now on (02)4957 8322 or accounting@insightadvice.com.au

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The information in this document reflects our understanding of existing legislation, proposed legislation, rulings etc as at the date of issue. In some cases the information has been provided to us by third parties. While it is believed the information is accurate and reliable, this is not guaranteed in any way. Any advice in this publication is of a general nature only and has not been tailored to your personal circumstances. Please seek personal advice prior to acting on this information.