Caption:
Alt:
Link:
Target:
 

Safe Tax - the Cover for any Audit

By Andy Brown (2 Min Read | Intermediate)

Did you know that ATO increases its number of audits? You can be selected at random because of your postcode, your type of business or just because you have a self-managed Super Fund.

 

Each year the ATO conducts thousands of audits and even though you may comply with your tax obligations and no irregularities would be found, being selected for an audit can be an invasive, time-consuming process and very costly exercise. Contacting your accountant after receiving the ATO notification, means that you would have to pay professional fees, which can reach up to  $10,000, depending on the complexity of your individual situation or structure of business(es).  

We care about our clients and developed Safe Tax - a cover for any audit exclusively for our clients. When dealing with the ATO, Safe Tax literally SAVES you a lot of stress, time and money. 


Having Safe Tax in place implied that you will not have to pay additional professional fees (for the chosen limit) and we take care of all matters with the ATO on your behalf, which means:

  • Discussing with statutory body directly
  • Coordinating and presenting information in the best way
  • Negotiating in the event of any penalties or claims
  • Organising any payment arrangements required

Your Safe Tax support applies to professional fees for audit costs in the following areas:

  • Income Tax
  • Capital Gains Tax
  • Payroll Tax
  • Fringe Benefits Tax
  • Superannuation Fund Statutory Returns
  • Workers Compensation; and
  • Goods and Services Tax (GST), incorporating Business Activity Statement (BAS) and Instalment Activity Statement (IAS) compliance requirements.

Safe Tax covers you until the end of June 2019 and we liaise on your behalf even if the audit considers financial transactions from years or decades ago. 

To receive Safe Tax for a limit of $ 1,500 in professional fees, we offer:

$ 77     per Individual Employee/ Investor
$ 230   per Superannuation Fund
$ 330   per Business Entity/ Sole Trader

 

Contact our Business Services Team for your individual quote to register for Safe Tax or email Samantha, our Business Services Administration Manager directly: samantha@jgg.com.au

 

For more insights on having Save Tax during an audit process, please watch our post-audit interview (below) with Brad:


 

For detailed information on Audit processes conducted by the ATO, please visit the ATO Website: 

https://www.ato.gov.au/Business/Privately-owned-and-wealthy-groups/What-you-should-know/Tailored-engagement/Audits/#Typicalauditprocess

For possible penalties and interest charges, read on: 

https://www.ato.gov.au/Business/Privately-owned-and-wealthy-groups/What-you-should-know/Tailored-engagement/penalties-and-interest/ 

 

 



Contact Johnston Grocke

©2018 Johnston Grocke - Accountants & Financial Planners - Mortgage & Finance Services | Disclaimer | Site by  JABA Multimedia Design - Adelaide Web Design - Developer © 2014 Johnston Grocke
Accountants & Financial Planners - Mortgage & Finance Services
IMPORTANT NOTICE

On this entire website, information is of a general nature only and has been provided without taking account of your objectives, financial situation or needs. Because of this, we recommend you consider, with or without the assistance of a financial adviser, whether the information is appropriate in light of your particular needs and circumstances.

No representation is given, warranty made or responsibility taken about the accuracy, timeliness or completeness of information sourced from third parties. Because of this, we recommend you consider, with or without the assistance of a financial adviser, whether the information is appropriate in light of your particular needs and circumstances.

Anthony Klatt, John Grocke and Mathew Wilkshire are authorised representatives of Paragem Pty Ltd. Paragem Pty Ltd ABN 16 108 571 875, is the holder of Australian Financial Services License number 297276 and these authorised representatives trade as Johnston Grocke.

AG Finance Group is a Corporate Credit Representative (396686) of BLSSA Pty Ltd, ACN 117 651 760 (Australian Credit License Number 391237).