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At Scott Partners, we strongly believe that independent auditors play a vital role in acting as a trusted intermediary between the providers of business information and the users of that information, which is why we are one of the leading auditing services in Melbourne.
THE CLIENT’S PROBLEM: A taxpayer lodged a tax return with income from multiple rental properties. The ATO reviewed the taxpayer’s tax return and concluded that the deductions were substantiated. However, the taxpayer did incur fees of $7,500 for professional services in relation to the cost of audit.
THE SCOTT PARTNERS SOLUTION: While lodging the tax return, the taxpayer purchased audit insurance through Audit Shield. When the forced audit was completed, the taxpayer filed a claim and as a result, Audit Shield covered the total costs of the incurred professional fees.
“I now understand that audit insurance is as important as covering yourself with other types of insurance. It helps protect you against unexpected expenses and I am lucky Scott Partners pointed this out to me.”
