Do you have Audit Insurance?

As the world returns to normal after the seismic shifts of 2020, the Australian Taxation Office (ATO) also returns to its standard practices including its audit activity.

Australian taxpayers including businesses and individuals are regularly finding themselves at the mercy of the ATO or other government revenue agencies in regard to audits, investigations or reviews.

The ATO’s enquiries may focus on any of the following tax declarations and actions:

* Income, Land and Payroll Tax

* BAS/GST Compliance

* Workers Compensation / WorkCover

* Superannuation Guarantee and Compliance

* Self-Managed Superannuation Funds

* FBT

* Record Keeping

For peace of mind on your present and past tax declarations, Audit Shield is an important insurance against the costs of an audit by the ATO. The insurance cover provides assurances in regard to the services and costs you incur in order to meet the requirements of an audit.

Check out our client fact sheet to see how the Audit Shield service is provided and what is covered – Client Fact Sheets.

If you would like to learn about our Audit Shield service, please talk to MWM today!

Celebrate the End of Financial Year with your team and ours

Celebrate the End of Financial Year with your team and ours

The End of Financial Year (EOFY) is upon us. For business owners, like you and I, there are many moving parts to be aware of. There are yearly financial statements to create, taxes to pay, deductions to claim, and documentation to submit to the ATO.

30 June is coming – what’s your game plan?

30 June is coming – what’s your game plan?

End of Financial Year Tax Planning. While Covid-19 and the uncertain business landscape it created made planning difficult, what we can say with certainty at MWM is that in our experience those who had a plan have navigated the past two years more successfully than those who didn’t.