Protect Your Clients from Audit Related Professional Fees with AB Phillips' Tax Audit Insurance
Tailored Solutions for Accountants, Whether You're New to Tax Audit Insurance
or Looking to Switch Providers
Automated renewals
Less admin. More automation
Seamlessly switch from your current solution
No more payment reconciliations
Direct Client Coverage
An ATO or state government audit can be time-consuming and costly, even if your accounts are in order. Professional fees for accountants, bookkeepers, lawyers and tax agents can quickly add up. Tax Audit Insurance ensures you’re covered for those expenses — protecting your business cash flow and giving peace of mind.
Accounting Practices: Here's a better way to provide Tax Audit Insurance to your clients
Random tax audits can deliver a costly blow - potentially costing your clients thousands of unbudgeted dollars. You may experience delays in invoice payments, with some practices feeling pressure to offer payment plans to ensure funds owing are paid for the work performed or even write down their fees.
Unlike other Tax Audit solutions, our Tax Audit Insurance program provides an individual policy for each of your clients, with an automated process that eliminates time-wasting admin, sorts your data, and reduces your review time dramatically.
This means you can efficiently manage your client data, quickly send invitations to new clients, and client renewals are automated! There is also an optional revenue stream to your business.The reconcitiation process is also eliminated- you only receive your revenue, and we handle the rest. Offering Tax Audit Insurance to your clients with AB Phillips is straightforward and can be registered and set up within an hour!
Interested? Book a call with our Tax Audit Insurance experts today to find out more.
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Who can be covered by Tax Audit Insurance?
Businesses < $100m turnover facing increasing audit security.
Trades and contractors with complex expense claims.
Accountants wanting protection for themselves and their clients.
Individuals and investors with multiple entities.
Trusts and SMSF's
What does Tax Audit Insurance cover?
Tax Audit Insurance provides cover for the professional fees incurred during:
ATO audits, reviews, and investigations (income tax, GST, FBT, CGT, superannuation guarantee).
State revenue audits and investigations (payroll tax, land tax, stamp duty).
Costs associated with audit response of accountants, bookkeepers, tax preparers, business agents, and tax lawyers.
New to Tax Audit Insurance? We've got you and your clients covered.
Offering Tax Audit Insurance with AB Phillips is simple, you can be registered and referring with an hour. Our platform helps you manage client data, send invites, and automate renewals with ease.
Some of our great benefits include:
Secure & easy client onboarding
Automated renewals
No payment reconciliations
Multiple cover limit options
Pain free data review and updates
Protection for both business and personal tax returns
Already Offering Tax Audit Insurance?
Switching to
AB Phillips’ Tax Audit Insurance is quick and easy!
Switching to AB Phillips is seamless. Our platform allows you to import your existing client data securely, organise it for easy review between insured and uninsured clients, and set up automated invitations catered to each client. The entire process is automated, ensuring efficiency and ease of use.
Transitioning from your current provider might seem overwhelming. But with AB Phillips, it’s as simple as 1-2-3-4:
- Book a call and chat to our Tax Audit Insurance specialists, while taking a demo of our program.
- Register and complete your onboarding.
- Import your client's data, maintaining control and visibility.
- Set up paid clients to receive their automated renewal at the right time, whilst generating new quotes and sending invites for unpaid clients.
Best of all, our service is absolutely free for you. Simply sign up as a free provider, use our automated dashboards to email your clients, and enjoy the peace of mind, and additional client service. AB Phillips fees are transparent at the time a client purchases a policy.
Comprehensive Coverage and Exceptional Service
AB Phillips offers a range of benefits designed to make your life easier and provide the best service to your clients:
- Automated Renewals: Less admin, more automation.
- Data Management: Secure onboarding, and data control.
- Easy data Review.
- Revenue Stream: Generate revenue with transparency and minimal effort.
- Client Options: Clients can choose from three coverage limits, and fees are often tax-deductible.
- Online platform: Everything you need in one place with quick and easy navigation.
- Easy data import: Upload your data easily and quickly.
- Direct client coverage.
Ready to learn more?
Schedule A Conversation!
Ready to learn more?
Find out how AB Phillips can help you save time on your Tax Audit Insurance solution and get the coverage your clients need.
FAQs
Does tax audit insurance cover penalties or tax payable?
No. It only covers the professional fees incurred in managing an audit or review.
Is the premium tax deductible?
Yes. For most businesses, tax audit insurance premiums are deductible expenses.
How much does it cost?
Premiums depend on the size of your business, the number and type of entities covered, the state in which the entities reside and the policy limit selected.
Does it apply to personal audits as well as business audits?
Yes — cover can be arranged for both.
What audits are included?
Income tax, GST, FBT, CGT, payroll tax, superannuation guarantee and more.
Why choose AB Phillips?
50+ years advising Australian businesses.
As a professional brokerage service, we can assist you with a broad range of insurance covers, not only Tax Audit Insurance.
Service and support to assist you with your client coverage and claims processes.
Claims advocacy to support you through an audit.
Our Tax Audit Program is powered by AuditCover.
This insurance is issued by Auditcover Australia Pty Ltd (ABN 63 638 872 634, AFSL 535509) on behalf of the insurer HDI Global Specialty SE (ABN 58 129 395 544, AFSL 458776). This policy is distributed by AB Phillips Pty Ltd (ABN 91 007 075 934, AFSL 234457).