Audit Shield Insurance NZ
An IRD audit can be expensive even if nothing is uncovered.
But it doesn’t have to be. Our firm has a very good history with IRD audits but an audit can be an expensive exercise, even if nothing is uncovered. Audit Insurance provides cost-effective protection and assistance against the substantial cost that may be incurred should IRD or any other NZ government authority conduct a random audit, enquiry, investigation or review. This insurance policy pays for the cost of responding to information requests from any government organisation (except Statistics NZ) relating to any lodged return. In regard to an IRD audit the Insurance covers information requests relating to:
- Income Tax
- Imputation Credit Account
- Resident Withholding Tax
- Dividend Withholding Tax
Audit Shield Insurance does not cover the cost of any penalties or interest that may be charged by IRD if they disagree with a tax return that has been filed with them.
We have an audit shield insurance facility that we offer our clients. If this is something you could be interested in or have any further questions, contact us and we can provide you with further details.