Tax Audit Insurance NZ

What is Tax Audit Insurance?

Tax audit insurance protects your business against the costs associated with an Inland Revenue Department (IRD) audit or investigation. It covers professional fees for accountants, tax advisors, and legal representation needed during the audit process.

An IRD audit can be time-consuming and expensive. Tax audit insurance ensures you have access to professional help without bearing the full financial burden of defending your tax affairs.

What Does It Cover?

• Accountant fees
• Legal fees
• Representation costs
• Tax investigation costs
• Penalty appeals
• Business interruption costs

Who Needs Tax Audit Insurance?

Tax audit insurance is essential for:

• • Small businesses
• • Self-employed professionals
• • Companies with complex tax affairs
• • Property investors

Typical Costs

Tax audit insurance costs vary based on coverage limits and business type. Typical costs start from:

• • Basic cover: From $200/year
• • Standard cover: From $400/year
• • Comprehensive cover: From $700/year