Individual Taxpayer General Engagement Agreement


Individual Taxpayer General Engagement Agreement

  1. RECITALS
    1. Both parties, being the service provider and the service subscriber, have agreed to the terms and conditions set out in this Agreement (“Individual Taxpayer General Engagement Agreement”).
  2. DEFINITIONS AND INTERPRETATIONS
    1. DEFINITIONS
      1. ATO means the Australian Taxation Office.
      2. BPAY means the electronic payment scheme operated in co-operation between Australian
        financial institutions, which enables you to effect bill payments to vendors by either Telephone or Online Banking.
      3. Client, Clients, Service Subscriber, You, Your means the taxpayer inclusive of any associated individuals, partners, trustees, and directors.
      4. Costs include costs, charges and expenses, including those incurred in connection with advisers.
      5. Draft Documents means draft Statutory Returns, draft Financial Reports and any other documents associated with the provision of Accounting, Taxation and Business Advisory Services.
      6. EFT means electronic funds transfer.
      7. Financial Report, Special Purpose Financial Report means Special Purpose Financial Report as defined by the Australian Accounting Standards Board.
      8. Financial Statements, Special Purpose Financial Statements means Special Purpose Financial Statements as defined by the Australian Accounting Standards Board.
      9. Individual means natural person.
      10. Lodge, in relation to tax forms and other statutory documents, means electronically transmit to the ATO via the ATO Electronic Lodgement Service.
      11. Professional Standards means professional and ethical requirements relating to the conduct and performance of professional Accountants in accordance with the Australian Accounting Professional and Ethical Standards Board (APESB).
      12. Service Provider, Our, Us, We means Taxology Pty. Ltd. (ACN: 145 007 567) trading as Taxology (ABN: 85 145 007 567).
      13. Taxpayer has the same meaning as the INCOME TAX ASSESSMENT ACT 1997.
  3. PURPOSE AND SCOPE OF SERVICE ENGAGEMENT
    1. We agree to act as your Accountant and Tax Agent. This agreement sets out the terms of the service engagement. Any additions will be by written agreement of both parties.
    2. Limitation of scope
      1. Performance of tasks under this engagement is limited exclusively to the:
        1. analysis of business and tax transaction records;
        2. provision of advice concerning the format and storage of business transaction records pertaining to compliance with Australian Taxation Law;
        3. provision of advice concerning the application of Australian Taxation Law pertaining to operations of the business or taxpayer;
        4. preparation of Special Purpose Financial Accounts;
        5. preparation of Special Purpose Financial Statements and Special Purpose Financial Reports;
        6. preparation and lodgement of Australian Business Activity Statements, Instalment Activity Statements and Annual GST Returns;
        7. preparation and lodgement of other documents necessary for compliance with Australian Taxation Law with the Australian Taxation Office;
        8. preparation and lodgement of Australian Income Tax Returns; and
        9. verification of assessed taxation liabilities in accordance with Australian Taxation Law.
      2. Unless we are otherwise engaged to do so, this engagement cannot be relied upon to disclose any irregularities (such as fraud, illegalities or errors of other parties) that may occur.
    3. Responsibility for accounting and internal control systems
      1. You are solely responsible for the maintenance of an accounting system and internal control systems, including protection of and prevention against fraud.
      2. You are responsible for the maintenance of and keeping of the books of account. This includes any work produced by a third party not engaged by this firm that is sought to be relied upon. If any material weakness in the accounting systems or internal control systems comes to our notice, we will advise you accordingly.
      3. You are personally responsible for the information contained in any statutory return and you must retain all necessary supporting documentation to substantiate your transactions. We do not take responsibility for any failure on your behalf to maintain adequate records or to provide us with all the relevant information.
    4. Your record keeping responsibilities
      1. It is your responsibility to ensure that adequate records are maintained to enable us to prepare your Financial Accounts and Statutory Returns.
  4. GOVERNING LAW
    1. This agreement and any services provided in connection with this agreement are governed by the law in force in South Australia.
  5. SEVERABILITY
    1. If the whole or any part of a provision of this agreement is void, unenforceable or illegal in a jurisdiction it is severed for that jurisdiction. The remainder of this agreement has full force and effect and the validity or enforceability of that provision in any other jurisdiction is not affected.
  6. NON-WAIVER
    1. Any forbearance, delay, neglect, or failure to enforce strictly a provision of this agreement shall in no event be considered a waiver of any part of such provision.
  7. RIGHT OF ASSIGNMENT
    1. We may assign our rights, benefits, title, interests, liabilities and obligations under this Agreement, wholly or partially, without your prior written consent.
  8. YOUR OBLIGATIONS
    1. You must provide us with all information necessary to fulfill your statutory obligations in accordance with Australian Law.
    2. You are responsible for complying with the record keeping and substantiation provisions of Australian Law.
    3. You must provide us access to all relevant source documentation upon request.
    4. You must provide us with timely and accurate responses to questions concerning matters relevant to the fulfillment of our obligations under this agreement.
  9. OUR OBLIGATIONS
    1. We will act in your best interests at all times, subject to fulfilling our obligations under Australian law.
    2. Where there is a conflict between your instructions and the law, we will comply with the law, even if that may require us to act in a manner that may be contrary to your best interests.
  10. LIMITATION OF LIABILITY
    1. We will not be responsible for any inaccuracies or miscalculations resulting from errors in previous Financial Statements, statutory returns or other documents prepared by you, a previous Accountant, a previous Tax Agent or any other party.
    2. We will not be responsible for any errors brought about by your failure to provide information or documentation relevant to the fulfillment of your obligations under Australian law.
    3. We will not be responsible for any penalties or fines resulting from your failure to act in a timely manner.
    4. Any calculations of taxation refunds or liabilities are only estimates. We will not accept liability if the ATO or any other government agency determines an outcome which is different to our estimates.
  11. PROFESSIONAL FEES AND PAYMENT TERMS
    1. Estimated fees for requested tasks and fixed fee quotes are based upon our initial assessment of the amount of work required to undertake the required task in accordance with your instructions but also subject to Professional Standards and Australian Taxation Law. If you provide further information or we determine that additional work is required to fulfil your obligations under Australian Law, we reserve the right to vary our quoted fee. Any additional services will incur a surcharge calculated at the time billed charge rate of $22 (including GST) per time billing unit equivalent to 1/10th of an hour in duration.
    2. We will ordinarily invoice you for services rendered once draft documents have been prepared for your approval. We reserve the right to invoice you for work-in-progress services rendered.
    3. You must provide us with payment for services rendered within 7 days of the date of invoice. We accept payment in the following designations:
      1. Bank or Personal Cheque;
      2. BPAY;
      3. MasterCard Credit Card;
      4. Visa Credit Card; and/or
      5. Cash or EFT via Australia Post Bill Payment Services.
    4. If you do not pay our fee within 7 days, your account will be classified as being overdue. We reserve the right to engage an agent to recover any overdue fees that you owe us. We reserve the right to recover all costs associated with collecting overdue accounts. All overdue accounts will be subject to an administrative charge of $10 plus an indexation charge of 2% of the overdue amount on the fifteenth day of each calendar month.
    5. We reserve the right to recover costs levied by financial institutions or other financial transaction processing intermediaries for dishonoured, declined or failed payment transactions determined to be at your fault.
  12. GUARANTEE OF PAYMENT
    1. If you engage our services in connection with any artificial persons, business structures or entities under your control, you guarantee the payment of all accounts for our professional fees and associated costs.
  13. PRODUCT AND SERVICE REFERRAL DISCOUNTS, COMMISSIONS AND/OR REBATES
    1. We may receive discounts, commissions and/or rebates from related and/or unrelated parties where we make a recommendation or referral to you to use a particular product or service provider. You may make inquiries with our office as to the calculation and amount of any discounts, commissions or rebates receivable by us for any product or service that we refer or recommend to you.
  14. OWNERSHIP OF DOCUMENTS
    1. Final Financial Reports, Tax Returns and any other documents that we are specifically engaged to prepare, together with any original documents given to us by you, will be your property once we have received full payment for services rendered and costs.
    2. Any other documents brought into existence by us including general journals, working papers, the general ledger, draft financial statements and copies of tax returns, will remain our property at all times.
  15. TERMINATION
    1. You agree to the terms and conditions of this Engagement Agreement and agree to be held liable for all fees and costs accrued in connection with this engagement. If you decide to cease using our services prior to our fulfillment of the terms of the engagement, you agree to pay for:
      1. Work-in-progress undertaken to the point of termination in connection with fulfilling our obligations under this engagement limited to the quoted fee (subject to time billed charges and out of scope adjustments as per clause 11); and
      2. All out of scope costs incurred by us in connection with this engagement.
  16. QUALITY REVIEW
    1. As members of a statutory recognised Professional Accounting Body, we are subject to periodic Professional Practice Quality Assurance reviews. Unless you advise otherwise, you are consenting to your files being part of such a quality review. This review is of our client records and not of you as a client and you have full assurances that complete confidentiality will be maintained throughout.
  17. COLLECTION, STORAGE, USE AND DISCLOSURE OF PERSONAL INFORMATION
    1. In the course of providing Professional Accountancy and Tax Agent Services we are required to collect and retain detailed client information in order to comply with Legislative, Regulatory and Professional Standards.
      1. We may utilise electronic devices, third party external computer network storage and service providers, and third party commercial software packages which utilise and store information on external computer networks. Although we attempt to source domestic service providers where feasible, your personal information may be stored on computer equipment located outside of Australia.
      2. We may use the personal information collected from you for the purpose of providing you with direct marketing material such as articles that may be of interest to you. However, you may, by contacting us, request not to receive such information and we will give effect to that request.
    2. Unless you advise otherwise, you permit us to refer you as a prospective Credit or Financial Services client to our related party Credit and Financial Services business (Taxology Financial Services Pty Ltd). In undertaking the referral, your name and contact details may be disclosed to our related party (Taxology Financial Services Pty Ltd), the related party’s Australian Financial Services Licensee (AMP Financial Planning Pty Limited), and the related party’s Australian Credit Licensee’s Finance Aggregation Service (Australian Finance Group Ltd). Visit //www.amp.com.au/privacy to view the Privacy Policy Statement of AMP Financial Planning Pty Limited and //www.afgonline.com.au/privacy to view the Privacy Policy Statement of Australian Finance Group Ltd.
  18. INDEMNITY
    1. You agree to indemnify us from any liability to you, your associates or any third parties for inaccuracies in any Financial Reports, Financial Statements or Tax Returns where you have provided us with incomplete or misleading information.
  19. FORCE MAJURE
    1. We will not be liable to you or any other party for any direct, indirect, incidental, punitive, exemplary or consequential loss or damage for any reason or cause which could not be reasonably controlled or prevented by the us including, but not limited to, acts of God, acts of nature, acts of governments or their agencies, fire, flood, storm, or sabotage.