Engagement – Terms and Conditions

This is to confirm the terms of our engagement and the nature and limitations of the services that we provide.

Purpose, Scope and Output of the Engagement

Our firm will provide accounting and taxation services, which will be conducted in accordance with the relevant professional and ethical standards issued by the Accounting Professional & Ethical Standards Board Limited (APESB), and in accordance with the Income Tax Assessment Act 1936 & 1997.
The extent of our procedures and services will be limited exclusively for this purpose only. As a result, no audit or review will be performed and, accordingly, no assurance will be expressed. Our engagement cannot be relied upon to disclose irregularities including fraud, other illegal acts and errors that may exist. However, we will inform you of any such matters that come to our attention.
This engagement includes preparation of income tax returns, financial statements, year-end tax plans, and any other ATO statutory lodgements as required.
The above reports will be prepared for distribution to yourself for the agreed purpose. There is no assumption of responsibility for any reliance on our reports by any person or entity other than yourself and those parties indicated in the reports. The reports shall not be inferred or used for any purpose other than for which they were specifically prepared. Accordingly, our reports may include a disclaimer to this effect.

Period of Engagement

This engagement will start upon acceptance of the terms of engagement by the Client in line with this letter. We will not deal with earlier periods unless the Client specifically asks us to do so and we agree. This engagement document will be effective for future years unless we issue an amended one to you.


In conducting this engagement, information acquired by us in the course of the engagement is subject to strict confidentiality requirements. That information will not be disclosed by us to other parties except as required or allowed for by law, or with your express consent.
We wish to draw your attention to our firm’s system of quality control which has been established and maintained in accordance with the relevant APESB standard. As a result, our files may be subject to review as part of the quality control review program of CPA Australia Limited which monitors compliance with professional standards by its members. We advise you that by accepting our engagement you acknowledge that, if requested, our files relating to this engagement will be made available under this program. Should this occur, we will advise you.
We may collect Personal Information about you, your representatives, your clients and others when we provide services to you. If we do, you agree to work with us to ensure that we both meet the obligations that we each may have under the Privacy Act 1988 (Cth) (as amended) (Privacy Act). The obligations may include notifying the relevant person to whom the personal information relates who we are and how we propose to use their personal information. Where you have collected personal information, you confirm that you have collected the personal information in accordance with the Privacy Act, that you are entitled to provide this personal information to us and that we may use and disclose the personal information for the purpose/s we provide our services to you. We will handle personal information in accordance with the Privacy Act.
You are responsible for the reliability, accuracy and completeness of the accounting records, particulars and information provided and disclosure of all material and relevant information. You are required to arrange for reasonable access by us to relevant individuals and documents, and shall be responsible for both the completeness and accuracy of the information supplied to us. Any advice given to you is only an opinion based on our knowledge of your particular circumstances. You or your staff are responsible for maintaining and regularly balancing all books of accounts, and the maintenance of an adequate accounting and internal control system. You have obligations under self-assessment to keep full and proper records in order to facilitate the preparation of accurate returns. It is your responsibility to keep those records for 5 years.

Taxation Services

A taxpayer is responsible under self-assessment to keep full and proper records in order to facilitate the preparation of a correct return. Whilst the Commissioner of Taxation will accept claims made by a taxpayer in an income tax return and issue a notice of assessment, usually without adjustment, the return may be subject to later review. Under the taxation law such a review may take place within a period of up to 5 years after tax becomes due and payable under the assessment. Furthermore, where there is fraud or evasion there is no time limit on amending the assessment. Accordingly, you should check the return before it is signed to ensure that the information in the return is accurate.
We may use tax computation or other software to perform the services, including software hosted or supported by third parties (who may be outside Australia). We may give your information (including confidential and personal information) to third parties and their respective contractors, who host or support software or are otherwise involved in the services and who are subject to confidentiality obligations.
Where the application of a taxation law to your particular circumstances is uncertain you also have the right to request a private ruling which will set out the Commissioner’s opinion about the way a taxation law applies, or would apply, to you in those circumstances. You must provide a description of all of the facts (with supporting documentation) that are relevant to your scheme or circumstances in your private ruling application. If there is any material difference between the facts set out in the ruling and what you actually do the private ruling is ineffective.
If you rely on a private ruling you have received, the Commissioner must administer the law in the way set out in the ruling, unless it is found to be incorrect and applying the law correctly would lead to a better outcome for you. Where you disagree with the decision in the private ruling, or the Commissioner fails to issue such a ruling, you can lodge an objection against the ruling if it relates to income tax, fuel tax credit or fringe benefits tax. Your time limits in lodging an objection will depend on whether you are issued an assessment for the matter (or period) covered by the private ruling.

Fees and Payment Terms

The fee arrangement is based on the expected amount of time and the level of staff required to complete the services as agreed. Fee invoices will be issued in line with a billing schedule.For all other services our charge rates vary depending on the level and experience of staff required to complete the service, and the type of service required. Our hourly charge rates are as follows and are exclusive of GST.

Director/Principal $300
Manager/Senior Accountant $200
Accountant $150 – $200
Graduate Accountant $135 – $150
Administration $100 – $150

These rates may increase by annually by a minimum of the Melbourne CPI, at the end of the June Quarter. We reserve the right to Interim Bill for work performed in accordance with “Statement of Work” and these Terms of Engagement.
Payment terms are 14 days from date of invoice and prior to lodgement of your documents with the relevant authority including Australian Taxation Office. Clients who pay consistently late may be requested to pay all fees prior to commencement of any work. Any debts more than 30 days overdue may be referred to an external debt collection agency. Any debt collection costs and commissions incurred or paid in relation to collecting outstanding debts will be invoiced to your account and be your sole responsibility to pay.

Limitation of Liability

Our liability is limited by a scheme approved under Professional Standards Legislation. Further information on the scheme is available from the Professional Standards Council website http://www.professionalstandardscouncil.gov.au

Ownership of Documents

All original documents obtained from the client arising from the engagement shall remain the property of the client. However, we reserve the right to make a reasonable number of copies of the original documents for our records.
Our engagement will result in the production of financial statements, Business activity statements, income tax returns and special purpose financial reports. Where applicable these documents could be in electronic form. Ownership of these documents will vest in you. All other documents produced by us in respect of this engagement will remain the property of the firm.
The firm has a policy of exploring a legal right of lien over any client documents in our possession in the event of a dispute. The firm has also established dispute resolution processes.