It is that time of year when our 30 June 2025 (FY25) audit insurance offering is about to go out to all our clients.

This means our clients are covered for any Australian Taxation Office (ATO) or Office of State Revenue (OSR) audits or investigations. In our experience responding to audits can be very time-consuming and therefore costly, not to mention stressful and tiring.  We advocate taking out tax audit insurance to cover the cost of this risk. As you can see from the graph which they supply us each year detailing detailing July to December 2023 audit insurance claims. 

This shows the main current audit targets were

• - Individual Tax Returns (for work-related expenses) 14.91%
• - Payroll Tax 11.13 %
• - BAS and GST 9.78%
• - Employer obligations (PAYGW, SG & FBT) 9.29%  
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Last year the audit activity was as follows - calendar year 2022 (CY22) audit insurance update

Our Primarius policy is through Accountancy Insurance - click here for more information. You may find a tax audit policy through your business broker, and we don't mind which you choose, we just recommend that you ensure you are covered.

Disclaimer: This information is general in nature and is not an opinion expressed by us. So, before acting on this or any other information, it is important to seek professional advice related directly to you and your circumstances.  Should you require our assistance, contact your Primarius Team leader, or email us at info@primarius.net.au

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