Did you know that ATO increases the number of audits they conduct per year?
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, being selected for an audit can be an invasive, time-consuming process and a 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).
What is Safe Tax?
Safe Tax is a cover exclusively for Johnston Grocke clients and is designed to cover you for any audit that may be conducted against you.
What would be covered?
- 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 for each financial year, expiring 30th June. We liaise on your behalf even if the audit considers financial transactions from years or decades ago.
How much will it cost?
- Individual Employee/ Investor starting from $77
- Business Entity/ Sole Trader starting from $330
- Superannuation Fund starting from $230