You would have received a letter from Harris Black offering you the opportunity to participate in our Audit Shield Service. Whilst we make all efforts to prepare your accounts and tax returns perfectly, we cannot stop a government authority choosing to undertake a review or an audit.
With government authorities increasingly using data matching with other government bodies, banks, Single Touch Payroll and even companies such as AirBnB, audits and reviews are on the rise.
The Audit Shield service has provided effective financial protection to those of our clients who have been subject to an audit, enquiry, investigation or review from the Australian Taxation Office or any other relevant government revenue agency in relation to lodged returns. Whilst we act as your registered tax agent, you are able to opt into this service.
Below is a chart outlining the 2018-2019 Audit Shield claims across Australia:
Source: Audit Insurance
To understand more about the Audit Shield Services please contact your Harris Black team member