Audit Shield Master Policy
What are random Tax and Government audits?
Audits, reviews and investigations are conducted by the Inland Revenue (IRD) and other government agencies to ensure business and tax payer compliance with various tax and legislative requirements such as Income, PAYE, GST, FBT, Record Keeping, KIWI Saver, Employer Returns, Gift Duty and Computer Tax Audits amongst others.
How likely am I to get a random audit, review or investigation?
The IRD, along with other government agencies continue to announce significant increases in their audit activity. Now more than ever Businesses are at risk of being selected for a random audit or review.
What are the costs to businesses and tax payers in the even of a random audit, review or investigation?
If your business or individual return is subjected to a random audit, review or investigation, you are responsible for the costs (professional fees) involved in providing the required information. Even the simplest enquiry can require hours of work. In multiple years or multiple companies and trusts, thousands of dollars in accounting and legal fees can be incurred. The cost of being properly represented in these matters can be quite considerable depending on the length of time involved.
How can I protect myself from the costs of random audits, reviews and investigations?
We can offer you participation in our Audit Shield Master Policy which can provide you with comprehensive relief from these costs (fees).
The Audit Shield Master Policy provides for the payment of the professional fees incurred as a result of you being selected for an audit, review or investigation by the IRD or other Government body. The Audit Shield Master Policy premium provides a fixed, cost effective solution to guard against these unbudgeted costs.
What Costs are covered?
The service covers all professional fees up to a prescribed limit (with no excess) when responding to, or representing you in an audit, review or investigation. These include not only our fees, but also legal fees, bookkeeping fees and specialist professional advisor fees (e.g. specialist accountants, lawyers etc).
Who is covered?
All of our clients can take advantage of our Audit Shield Master Policy. Different levels of cover are available for:
salary and wage earners;
businesses or business groups;
What do I need to do to participate in the Audit Shield Master Policy?
Please contact Robertson Bixley Reception on 09 299 6596 and we will send you an information pack including an acceptance form/invoice.
Changed Your Bank Account ?
If you have changed your bank account, please let us know before we undertake your tax return, otherwise you might miss out on your tax refund.
"We have heard of cases recently where the refund has gone to an account no longer associated with a business and the taxpayer has missed out."
Make sure that you have given us your current bank account details for the account you would like your tax refunds paid to. And let us know immediately if your account details change.