Audit Shield – Why it’s important

With government revenue authorities increasingly using data matching, artificial intelligence, and even
social media, they can compare disclosures made in your lodged tax returns to those of other taxpayers or
benchmarks. If a data matching check escalates to an official audit, inquiry, investigation, or review, our
costs in defending your position can accumulate quickly, regardless of whether any adjustments are made
to your returns. It is for this reason, we offer our Audit Shield service which covers those costs (up to
predetermined limits).

Audit Shield is not just for business owners and SMSFs. The ATO has also identified individual taxpayers
who have rental properties, cryptocurrency assets, and those with excessive work related deductions for
special scrutiny.

Benefits of our Audit Shield service:

• Comprehensive Cover: Audits and reviews of Employer Obligations (PAYG/FBT/SG), Income Tax
  and GST are just some of the areas the ATO are targeting.
• Retrospective protection: Previously lodged returns are covered automatically.
• Specialist fees: Fees of any other external specialist (e.g. taxation lawyers) or relevant consultant
  engaged or instructed by us to assist us in a response to audit activity are also covered.
• You have a choice: The offering is optional, so there is no compulsion to participate.

Important information about our Audit Shield service:

• We hold a tax audit insurance policy in our business name. By proceeding with our Audit Shield
  service, we will include you and your entities in our policy.
• Payment is tax deductible. In addition, included in your payment is a fee payable to us. This is simply
  used as recovery of our administrative costs for managing this service.
• You can benefit from the service on the proviso that we are acting as your registered tax agent.

Participation in this service is not automatic. Protection will commence on the next business day after
we have received your payment, and expires on 31 August 2025