EBM Insurance - Taxation Audit cover

I've noticed in EBM Insurance's RentCoverUltra policy has "cover for your Taxation Autit" up to $1,000 for any one audit.

Does it cover only if the ATO's query is about the property under the landlord's policy or does it cover the individual for any matter that the ATO audits? Eg. ATO audits a share trades.

Say your accountant liaises with the ATO about the audit and you get a $500 bill from your accountant. Does the claim need to be submitted immediately or can it be submitted 6 months later? If you submit your claim to EBM, will they increase your policy premium the following year?

 

Check the policy wording. Often the audit cover includes responding to any government (not just the ato) enquiry and not just audits - reviews etc as well.

 

This would be limited to actions about the property not other investments or your general tax return etc.