Who covers the cost of assisting you through a tax audit?
The ATO have implemented self assessment for many years. That is, it is up to you to ensure that the tax return hence accounts that support that tax return are correct when lodged.
The ATO accept the lodgement of your tax return as correct and then undertake sampling and audit techniques to determine if you and or your business will be audited.
Risk mitigation - take out tax audit insurance
When you have been selected for an audit the ATO will be intense hence our intervention is usually called upon to act on your behalf. Tax audit insurance aims to cover the cost of professional assistance in engaging with the ATO. It does not cover the tax debt underpaid, interest or penalty.
Expect more value from your accounting & tax service.
This site provides no advice - the comments are general in nature hence cannot be relied on as the circumstances of your situation varies case by case. You must seek individualised advice specific to you and or your business circumstances