Audit insurance renewals will be coming out this week. It has been our policy for a number of years to offer an audit insurance option, read more about why in our previous update here -  Taking out Audit Insurance. 

We also have a nifty summary of last year's ATO audit focus here - Tax Audit Insurance.

In the past, we have seen payroll tax audits, tax-gap audits (very popular right now!), and numerous data matching audits.  These can be very time consuming and where clients have audit insurance, we bill our time costs to the insurer.  If audit insurance is not held then we charge this to the client.  We are very careful in documenting and requesting supporting information when we prepare income tax returns, so most queries are dealt with very quickly.  However, most of the audit action relates to other matters and are outside our control and unforeseen.

If you have any queries just email your Primarius Team Leader or info@primarius.net.au