Did you budget for an audit?

Did you budget for an audit?

Do you know the amount it can cost for a professional audit of your business? This could be relative to a Taxation Audit, a WorkCover or Worksafe Audit or any other registered Government Body investigating your business. Some claims examples are noted below:

  1. An ATO claim (employer vs contractor), 4 years of returns audited, costs exceeded $20,000 sum insured
  2. Super Fund audited by APRA (no errors found), fees $13,445
  3. Family Trust audit by ATO, fees $2,750
  4. Gaming and Racing audit, fees $8,586
  5. BAS audit by ATO, 1 years returns, fees $14,139
  6. BAS audit by ATO, 2 years returns, fees $33,472
  7. Staff Pension audit by APRA, 1 years returns, fees $3,880
  8. NSW Payroll Audit, 1 years returns, fees $14,759
  9. QLD Stamp Duties office, fees $3,750
  10. ATO, negative gearing audit of private investor, fees $7,541
  11. Workers Compensation audit, no issues, fees $2,300
  12. WorkCover audit, fees $4,780

Talk to me about arranging cover for current or prior tax years; and obtaining cover for fines and the defence costs that you may be subject to. Contact Clare Smith.   General Advice Warning The information on this website is general advice only and does not take into account your personal circumstances, financial situation or needs. Please connect with an insurance broker to discuss your specific needs.

General Advice Warning: This advice is general and does not take into account your objectives, financial situation or needs. You should consider whether the advice is appropriate for you and your personal circumstances. Before you make any decision about whether to acquire a certain product, you should obtain and read the relevant product disclosure statement.

Clare Smith, Phoenix Insurance Brokers Perth, ABN : 40009419872, AFSL : 229847 , AR Number: 229847

Advisr does not provide advice and does not hold a financial service license (AFSL). All information above has been provided by Clare Smith.

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Clare Smith

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