Although your tax audit insurance won’t cover you if you have to pay any additional money to the ATO after the completion of the audit, it will cover the cost of the professional lawyer or accountants fees you hire during the audit process.
You may think an audit will never happen to you. Unfortunately, deliberate tax audits or reviews are becoming increasingly common by the ATO (Australian Taxation Office).
There are often exclusions, deductibles and limits which apply, so contact an Avoca Insurance Broker to discuss your specific insurance needs.
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