ENGAGEMENT TERMS
INDIVIDUAL (NON BUSINESS)
This document sets out our terms of engagement and the scope of the work to be performed by us within that engagement. Please read it carefully. Terms are accepted on signing and payment for tax return/s.
From 1 March 2010 there is a provision of a “safe harbour” protection from penalties in certain circumstances for taxpayers who engage registered tax agents.
To obtain the benefits of "safe harbour" protection, the legislation requires the taxpayer to provide the registered tax agent with "all relevant taxation information" to enable accurate statements to be provided to the Australian Taxation Office. This requirement may be important to both parties in identifying and understanding the purpose and scope of the engagement as set out below and may also affect other matters discussed below.
Purpose and scope of engagement including Fees to be charged.
Our engagement is to prepare and lodge your annual income tax returns. Services will be provided to you on a fee for service basis.
Before we lodge any tax returns on your behalf, we will present it to you for approval and signing.
Work that is performed or disbursements that are incurred which are outside the scope of our engagement will be the subject of additional charge.
Fees
Where fees have not been agreed on upon our engagement, our fees will reflect the time we spend on your matter. If a fee estimate is provided, it is given in good faith but is not contractually binding.
Basis of engagement
We expect that all relevant information will be collated and forwarded to our office.
If you are late in providing information, we will do our best to meet the time limits, but we will not be responsible for any lodgement penalties you may incur.
As a general proposition we rely upon our clients to provide us with accurate and timely information. Any rectifying work performed by us on the basis of incorrect or late information will be work which is outside the scope of our engagement and will be charged as additional services.
Ownership of documents
The tax returns which we are engaged to prepare, together with any original documents given to us by you, shall be your property. Any other documents brought into existence by us, including general working papers, schedules and documents, will remain our property at all times.
Substantiation of Claims
We will specifically advise as to the requirements of the substantiation provisions relating to your income tax return and of the necessity to obtain acceptable receipts as specifically required by the legislation. We will not, however, be checking that the requirements of the substantiation provisions have been satisfied.
In addition to the basic information required to complete these tax returns, it is expected that the source documentation will be available to allow this firm to analyse the tax implications of any transaction that we request to see. We will not as a matter of course be looking at these documents, the ATO will expect you (and you are required) to have them available before any claim is made in your income tax return. We may in some circumstances also request to see source documents if a tax issue is particularly contentious. It is also expected that, each person will comply with the substantiation provisions of the Income Tax Assessment Act.
Confidentiality
We will not disclose any information relating to your affairs to any third party without your consent, unless required by law. You may provide us with permission to disclose your confidential information in certain circumstances, or place conditions on the disclosure of certain confidential information. If you do so, we will have permission to disclose the relevant information accordingly, in the performance of our services, unless you instruct us otherwise in writing.
Confirmation of engagement
The fee for this service does not cover any inquiries or investigations conducted by the Australian Taxation Office. Substantial penalties apply for an incorrectly prepared income tax return.
Please ensure that you are satisfied with the scope of our engagement.
Contact us if you have any queries about these engagement terms.