Tax Audit Insurance
Protect your business from unexpected expenses during government audits with Tax Audit Insurance solutions from NQIB.
What is tax audit insurance?
Tax Audit Insurance helps cover the costs associated with responding to an official audit or investigation by the Australian Taxation Office (ATO) or other government bodies. It includes reimbursement for accountant, lawyer, or advisor fees.
Depending on the policy, Tax Audit Insurance may include:
Coverage, benefit limits and exclusions may vary. Always refer to the Product Disclosure Statement (PDS) or speak to your broker for detailed policy terms.
Understanding Tax Audit Insurance
Tax Audit Insurance is commonly held by small businesses, sole traders, and companies that want peace of mind around regulatory compliance. It’s particularly relevant for businesses with complex financial arrangements or multiple tax obligations.
Premiums are influenced by the size and complexity of your business, annual turnover, industry sector, and claims history.
Inform your NQIB broker immediately. Documentation such as audit letters and records of incurred fees will be needed to lodge the claim.
Tax Audit Insurance is commonly paired with:
- Management Liability Insurance
- Professional Indemnity Insurance
- Business Package Insurance
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