Coverage for Accounting and Professional Fees
Tax Investigation Insurance for business offers coverage for any tax review correspondence with the CRA – from a minor review to a full audit. Remember, the coverage pays for your accounting and other professional fees so you don’t pay out of pocket for their work.
We cover costs relating to:
- income tax
- GST, PST or HST
- payroll deductions
We do not cover:
- tax avoidance
- failure to register for GST, PST and/or HST
- gross negligence, dishonesty or criminal offences
How much coverage?
Tax Investigation Insurance provides more than enough coverage. The following amounts are available to cover accounting and professional fees incurred when defending a tax review, appeal or audit.
A minor review can take days of tracking down receipts, and an audit can take months (or years in some cases). With Tax Investigation Insurance we pay for your accountant’s time, leaving you to focus on running your business.
|Type of Review||Coverage Up To|
|Tax Review ($500 deductible)||$10,000|
|Tax Appeal and Desk Audit ($500 deductible)||$25,000|
|Field Audit ($2,000 deductible)||$50,000|
CRA’s New Year’s Resolution
Did you know?
In 2014-2015 the CRA resolved to INCREASE the frequency of their communications? You and your accountant will likely spend more time than ever before going back and forth, digging up receipts and going back through records. With Tax Investigation Insurance, all that work is covered.I’m ready to get a quote I have some questions