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Premium Table - Audit Legal Protect

NOTE 1. By selecting ‘Returns only’, the insured parties are covered for audits subsequent to a relevant return, covered by the policy, being lodged with the relevant government agency, i.e., the insured party lodges an income tax return with the ATO and it is subsequently audited.

By selecting ‘Compliance & Returns’, the insured parties are covered for audits on ‘Returns’, as outlined above, plus for open audits undertaken (in isolation to a ‘lodged return’) to determine if compliant , i.e., the Office of State Revenue audits the insured party to determine if the business should be registered for Payroll Tax and be lodging Payroll Tax returns. This type of audit wouldn’t be covered by the ‘Returns only’ option, as no returns have actually been lodged to audit.

NOTE 2. Please refer to the Application Form as an Policy Administration Fee applies.

NOTE 3. Whilst the Sum Insured or Limit of Liability listed on the various Premium Tables are a guide to adequate amounts, we can quote on up to $50,000 anyone entity.

NOTE 4. The premiums shown are ‘Base Premiums’. To these ‘Base Premiums’ must be added GST, relevant Stamp Duty and the Policy Admin. Fee. Please follow the premium calculation guide on the Application Form.

Package

Combined Turnover
(millions)

Aggregate Sum Insured

Base Premium

Returns Compliance & Returns

Individual
(including Superfund & Passive Trusts)

N/A $5,000 $190 $240

Self employed

N/A $10,000 $985 $1,285

Business Entity/Operating Entity

<$5m $15,000 $1,335 $1,730

 

$5-10m $20,000 $1,785 $2,325

 

$10-15m $25,000 $2,470 $3,205

 

$15-20m $30,000 $3,155 $4,095

 

$20-30m $35,000 $3,700 $4,810

 

$30-40m $40,000 $4,245 $5,525

 

$40-50m $50,000 $4,800 $6,230