Can you insure against ATO investigations?

The Tax Commissioner has predicted that almost 30% of SME businesses will be subject to the ATO's compliance program, including some form of tax audit.

The processes can be lengthy to prepare, and response times to audit findings can also be time consuming. In addition, the costs can run to thousands of dollars.

In response, Vero has designed Tax Probe Plus Insurance, which offers cover for professional fees associated with audits and other official investigations such as:

  • ATO Income Tax Audit, Fringe Benefits Tax Audit and Capital Gains Tax Audits,
  • WorkCover Authority Audit of WorkCover returns, and
  • Payroll Tax Audits

There are four cover options to choose from:

  • Business Audit Only (with investigation cover); or
  • Business AND Directors Audit (with investigation cover); or
  • Individual cover (only for insureds that are not a corporation); or
  • Self Managed Superannuation Fund cover

See below premium options for a Mortgage Broker consisting of one (1) Director with a business turnover of $500,000:

Cover Type

Insured Amount

Total Premium

Business AND Directors Audit

$100,000

$461

Business AND Directors Audit

$50,000

$381

Business Audit Only

$100,000

$296

Business Audit Only

$50,000

$231

Broker Fee: A broker servicing fee of $80 + GST is in addition to the above quotes.

If you would like a quote on the above insurance, please contact Fetima Abes, Angelica Pan or Mark Esperida from the insurance team, with the following:

  • Insured Name
  • Business Address
  • Annual Turnover
  • Insured amount ($10K, $15K, $20K, $50K, $100K)

For Business AND Directors Audit

  • Names of Directors

For Self-Managed Superannuation Fund

  • Funds Under management (Annual Turnover)
  • No. of SMSF Members

As a bonus & for a limited time Vero are offering bonus Qantas rewards points on binding of your Tax Probe insurance policy.

Don't forget, you will earn 20% back in commission for every policy sold (either for yourself or for clients you refer)

We encourage you to send this offer on to your clients, especially accountants!

Tax Probe Plus Brochure.pdf

Vero Tax Probe Insurance Quote.pdf

Vero Tax Probe Plus Policy Wording.pdf