Audit Shield

All current Audit Shield policies are due for renewal on 31 July 2024. We have started to work through the renewal process and will shortly invite all our clients to participate in this offer for the 2024/25 year. Audit Shield is available to all clients and is a policy that we encourage you to participate in.

The Government continues to allocate additional funding towards tax compliance improvement and risk reviews, either by way of initiating enquiries, reviews or audits. The past couple of years compliance resources have been allocated to service the needs of taxpayers however there is indication that there will be a return to a higher level of checking and especially with AI systems in behind the scenes, more questions are being asked! Audit Shield claims currently are predominately in relation to GST verification, followed by Income Tax disclosures.

Audit Shield covers all professional fees incurred from responding to a simple phone call enquiry to an audit. It covers all tax types (excluding social policy and subsidies) relating to all lodged returns within New Zealand. This has recently been extended to cover Brightline, Cryptocurrency and some Covid-19 relief measures. The invoice for professional fees will depend on the complexity of the questions asked, the information required or the timeframe required to complete the request or audit. Thus, we strongly recommend that you accept the Audit Shield offer to keep your fee costs under control.