The AuditSave Group Policy Solution
For over 20 years, offering Tax Audit Insurance through financial service practices, such as accounting firms, had not changed and is now considered archaic and had come with many challenges, as outlined in the policy benefits brochure, for both the practices and the clients. AuditSave’s revolutionary product is based on eliminating the challenges to ensure Tax Audit Insurance is more accessible and more clients are protected.
On top of those challenges, we have already noticed a significant increase in tax audits and reviews from the ATO over the past 12 months and only look to keep going. In addition, not sure if you are aware but most general insurance premiums are dramatically increasing (doubling in some cases) and will continue to do so over the next two years. (AuditSave premiums will remain the same). Compounded with high inflation rates and interest rate rises, consumers, are looking to cut costs on products where they can to save money. Insurance, and particularly, tax audit insurance is one of those expenses that people tend to cut out.
Any accounting practice offering tax audit protection the archaic way, or not at all, combined with these events forms the perfect storm and an unwanted reality that is leaving a massive number of clients and accounting practices exposed.
The AuditSave tax audit group policy is the solution to this major problem.
AuditSave’s Tax Audit Group Policy removes the need for clients to be under pressure to take out a tax audit policy, which they may not be able to afford, and yet they still will be covered. Making it extremely affordable for everyone whilst eliminating the risk of clients being audited or reviewed and protecting the practice’s professional fees no matter who the ATO target.
The AuditSave Group Policy Solution:
- One group policy protecting 100% of clients (and all associated entities).
- The premiums are dramatically reduced by up to 90% (or more in some cases), saving clients significant money.
- Superior policy wording.
- The accountants’ fees are protected in connection with the review, investigation, or audit no matter who is targeted.
- No chasing invoices or fees.
- Automatic protection for new clients during the term. No notification or fee is required.
- SMSF Trustee protection from administrative penalties issued by the ATO (only policy in Australia to have this benefit).
- Unlimited retroactive date.
- No administration.
- No selling tax audit insurance to the clients yearly.
- No sharing of private client information. It remains private.
- One simple annual renewal.
- Straightforward online claims process.
- No knee-jerking on premium increases due to claims.
- Great opportunity to Increase profits.
- Attract new business clients.
- The premium can be funded across 12 months whilst annual fees are collected.
- Very easy to implement.
Protecting your clients
is Protecting your business.
Currently there are hundreds of Accounting Practices, SMSF Administration companies, General Insurance Brokerages, and others who have taken on the policy and experienced great success. The common response is that the AuditSave tax audit group policy is a “No Brainer”.
We can also offer a seamless individual client offer and acceptance process that doesn’t involve any administration from the practice that is extremely easy to implement.
