Tax Investigation Insurance (TII) offers coverage for any tax investigation correspondence with Canada Revenue Agency (“CRA”) or a provincial tax authority – from a minor review to a full audit. Remember, the coverage pays for your accounting and other tax 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

Personal Coverage includes trusts and estates

We do not cover (exclusions):

• Tax avoidance
• Failure to register for GST, PST, and/or GST
• Gross negligence, dishonesty, or criminal offences

How much coverage?
Tax Investigation Insurance provides the following amounts to cover accounting and professional fees incurred when defending a tax review, appeal, or audit.

Type of Review                                        Coverage Up To

• Tax Review ($500 deductible)         $10,000
• Tax Appeal and ($500 deductible)  $25,000
• Desk Audit ($500 deductible)          $25,000
• Field Audit ($2,000 deductible)        $50,000
  

Tax Investigation Descriptions

Tax review
A request for further information by the CRA or a provincial tax authority, or a review by the CRA or a provincial tax authority to validate or verify information disclosed on your tax return.

Tax appeal
An appeal regarding an assessment, reassessment, or determination made by the CRA or a provincial tax authority, including an administrative appeal to the CRA or a provincial
tax authority and an appeal to the Tax Court of Canada or a superior court of a province.

Tax desk audit 
An inspection and verification by the CRA or a provincial tax authority, not conducted at your premises, of your financial accounting records to determine whether or not you have paid the correct amount of tax.

Tax field audit
An inspection and verification by the CRA or a provincial tax authority, conducted at your premises, of your financial accounting records to determine whether or not you have paid the correct amount of tax.