Yes, it's that time of year folks - time to consider audit insurance and you will receive an invitation to renew directly from the insurers this year.

Here's why we recommend taking out audit insurance annually:

1. Cover: It covers any government investigation or inquiry including our costs and if needed a lawyer, up to the chosen insurance amount;
2. Tax-deductible: the costs of the insurance are deductible.
3. Increased audit activity: the ATO and other government bodies including workers compensation etc are increasing their audit activity.

Government audits  (including OH&S or superannuation guarantee investigations) can be costly exercises requiring our assistance and detailed work and occasionally the use of a lawyer.  As audit insurance is taken out on a "claims made" basis it means that if you take out cover in this year then for this entire year you are covered for any audits relating to the current year or any prior year up to the insurance cover, which is usually a minimum of $10,000.  For this reason, we recommend that it is taken every year that you are in business and seven years after ceasing business to ensure you are protected.

You should have received a renewal letter from our audit insurance partner, Audit Shield, however if you didn't just send us an email at info@primarius.net.au and we'll get an updated policy proposal sent out to you.