Purpose, Scope and Output of the Engagement
This firm will provide accounting services that will be conducted under the relevant professional and ethical standards issued by the Accounting Professional & Ethical Standards Board Limited (APESB).
We will endeavour to prepare your work within 4 weeks of receiving all required information, including this accepted agreement & payment following our payment terms. Please contact us to discuss turnaround time if you require this engagement to be completed sooner. Whilst we will make our best effort to meet your lodgement deadline, we will not be liable for any late lodgement penalties where you provide your complete information less than 4 weeks before your lodgement date.
In providing these services, it is agreed that we will not be undertaking any independent audit of the financial statements or income tax returns prepared. Our role will be limited to assistance in the compilation of the financial statements and preparation of the relevant taxation returns based on the information and records provided by you to us. The financial statements prepared will contain an appropriate disclaimer that identifies the extent and limitation of our role. We are entitled to rely on the records provided as being both accurate and complete.
While our engagement does not include the audit of your financial statements or income tax returns, we are required by the Tax Agents Services Act 2009 to satisfy ourselves as to the reasonableness of the information and claims being made in your income tax returns. The legislation provides the basis for this and may require us to make further enquiries with you from time to time in relation to your taxation returns. Where possible, we will endeavour to identify the information that will be required in advance. To ensure the efficient completion of your work, you agree to make available all information as is reasonably required for us to complete the various engagements agreed.
Some of your agreed work is subject to specific lodgement dates. Our objective is to ensure that all your work is completed in time to meet these lodgement dates. This is reliant on receiving your work within a reasonable period prior to those due dates (our recommendation is not less than 30 days) and having timely answers to any queries raised. We will agree a work program with you each year, including the dates for both the receipt of work from you and our completion date.
We will endeavour to record all advice on important matters in writing. Advice given verbally is not intended to be relied upon unless confirmed in writing. If we provide verbal advice (for example during a meeting or telephone conversation) that you wish to rely on, you must ask us to confirm the advice in writing.
From time to time, you may request that we undertake additional work for you other than what is described in this engagement letter. This will represent a separate engagement for which we will issue you with a separate engagement letter.
A separate engagement letter will be issued for any audit engagements, specific to that entity.
Period of Engagement
Engagement starts on the date that you sign and return the engagement document to usand is valid until proposal end date. We will not deal with earlier periods unless you specifically ask us to do so, and we agree.
The terms of an engagement letter will continue to apply for future engagements unless otherwise agreed.
Your obligations & rights
In accordance with the Tax Agent Services (Code of Professional Conduct) Determination 2024, we are required to provide general information about:
For further guidance, please refer to the official TPB fact sheet, which outlines these matters in detail at: Information for Clients Factsheet 2025_0.
Further information is also available at: https://www.tpb.gov.au/keeping-your-clients-informed
We will comply with the professional and ethical standards of the Accounting Professional and Ethical Standards Board, available at apesb.org.au. This includes APES 110 Code of Ethics for Professional Accountants (including Independence Standards), which among other things contains provisions that apply if we become aware of any actual or potential ‘non-compliance with governing laws or regulations’ (NOCLAR). Where any such non-compliance poses substantial harm (such as serious adverse consequences to investors, creditors, employees, auditor, group auditor or the public), we may be required to disclose the matter to an appropriate authority.
In relation to the taxation services provided:
You are subject to the self-assessment system in relation to any of your income tax returns. The Commissioner is entitled to rely on any statements made in your income tax returns. Where those statements are later found to be incorrect, the Commissioner may amend your income tax assessments and, in addition to any tax assessed, you may also be liable for penalties and interest charges.
You have an obligation to keep proper records that will substantiate the taxation returns prepared and which will satisfy the substantiation requirements of the Income Tax Assessment Act. Failure to keep such records could result in claims being disallowed, additional tax being imposed, and the imposition of penalty or general interest charges.
You are responsible for the accuracy and completeness of the particulars and information required to comply with the various taxation laws. We will use this information supplied in the preparation of your returns. Your rights as a taxpayer include:
Certain time limitations may exist for you to exercise these rights. Should you wish to exercise these rights at any time you should contact us so that we can provide you with the relevant time frames and to discuss any additional requirements which may exist.
Disclosure of Registration Status and Relevant Events
The Tax Practitioners Board (TPB) maintains a public register of registered, suspended and deregistered Tax Agents and BAS Agents, available at: https://www.tpb.gov.au/public-register.
We are required to inform you if, within the last five (5) years (but not before 1 July 2022):
We are also required to advise you of any conditions attached to our current registration.
Currentdisclosures:
There are no relevant events to disclose.
There are no conditions attached to our registration.
Fees
The scope of our engagement is the preparation, and completion matters detailed in this agreement. Any agreed fee applies only to services and advice provided within the scope of our engagement. Where applicable, this fee includes the checking and forwarding of original assessments and original payment notices that are received from the Australian Taxation Office, as well as ancillary telephone and email communications to clarify any aspect of the work we have undertaken as part of this engagement.
However, if the situation arises during the course of this engagement where we discover additional matters not apparent at the time of preparing this fee proposal we will cease work, contact you and agree an amended fee for those additional services.
Please note in particular that any correspondence from the Australian Taxation Office that does not relate to initial assessments nor original payment notices, will be charged as additional services.
Disbursements & Subscriptions
Disbursements will be charged for the cost of legal expenses, couriers, research data, on-line costs and any statutory fee incurred on your behalf.
Where relevant, your Xero subscription will be charged separately and in addition to any other service provided. Additional direct debit forms will be required prior to subscribing to the file. As the Subscriber for your Xero Business Edition, we will always give you full access to your Xero subscription, including if the business relationship between us terminates or if there is a dispute between us. If you transfer your business to a new accountant, you will need to provide us with the name and email address of your chosen new Xero Subscriber for us to transfer your Xero subscription. We are bound by the Xero Partner Code of Conduct. This Code contains dispute resolution procedures and how your access to the Xero subscription will be maintained in the event of a dispute (including relating to non-payment of our fees) between us and you.
Payment Options
We have requested your payment details below to streamline our billing process. We require payment details to be provided prior to beginning the agreed services in our engagement with full payment in advance via direct debit or credit card. We accept Visa and Mastercard.
In the event of you being in default of your obligation to pay us within the payment terms and the overdue invoice(s) are then referred to a debt collection agency and/or law firm for collection and we are charged commission and/or disbursements and/or legal fees, you agree that you will be liable to pay as a liquidated debt to us any commission, disbursements and legal fees payable by us.
Our payment terms are: Either upfront payment is required as listed in this engagement agreement or Payment due in full for all other engagements 7 days from issue of Invoice. If the amount payable on the Invoice is not paid within 30 days of the date of that Invoice, then interest will be payable by you on the total unpaid amount calculated 30 days from the date of the Invoice until the actual date of payment at the rate of 24% per annum calculated daily.
We may also suspend our services or to cease to act for you on giving written notice if payment of any fees is unduly delayed.
Payment in full must be made before we lodge your Tax Returns with the ATO.
Should you wish to discuss an alternative arrangement, please comment in the space provided below in the “Have Questions”? Box, remembering to hit “post comment” once completed. We will be in touch to discuss your individual needs.
Self-Managed Superannuation Fund Services
AustralianFinancial Services Licence (‘AFSL’) Regime for Accountants
You may be aware that the recognised accountants’ exemption that provided accountants with limited relief under the Corporations Act 2001 (Cth) (‘CA’) from the AFSL requirements ceased on 30 June 2016. Broadly, the recognised accountants’ exemption authorised an appropriately qualified accountant to provide advice in relation to the acquisition and disposal of an interest in an SMSF without the need to hold an AFSL.
As a firm, because we have an affiliation with a Financial Planner that holds an AFSL, we have elected not to obtain an AFSL or become an authorised representative (‘AR’) of an AFSL holder. Therefore, we cannot provide you with financial product advice or related financial services. One of the key implications of the removal of the accountants’ exemption is that we cannot recommend that you establish or wind up an SMSF. Similarly, we cannot recommend that you commence or commute a pension.
We can however continue to provide you with taxation, business structuring and traditional accounting services and advice. We can provide such services to your SMSF and superannuation needs provided we do not provide product advice or related financial services. Furthermore, we can continue to provide you with factual information. You can also continue to instruct us to arrange for the preparation of documents on your behalf, such as updating your SMSF deed. These services will be provided on an execution only basis.
Referral Arrangements
We have a recommended Financial Planner and from time to time may need to recommend that you obtain advice from them as they have an AFSL, who can advise and recommend financial products and provide related financial services. We will put you in touch when the time is right.
We confirm that any fees, commissions or other benefits from financial advisers that we receive will be set out in your Statement of Advice should you wish to proceed with their services. Further, we do not guarantee the qualifications or appropriateness of any referral, nor the advice received from any such adviser. We recommend that you carefully review the background of any referral and check that their services, charges and business model suit your needs.
AFSL Disclaimers
For us to comply with the new AFSL regime, you will note disclaimers in our written documents that are required to ensure that you are on notice that our advice and services are not covered by an AFSL.
ASIC & Corporate
Where applicable, Eyre Accounting Services confirm they have not provided financial or taxation advice in relation to the requested company changes for any ASIC or Corporate related affairs and we recommend you should consult an appropriate professional for specific advice tailored to your situation. While care has been taken in the preparation of the relating documents, no liability is accepted by Eyre Accounting Services, its related entities, agents and employees for any loss arising from reliance on this document.
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 Councils’ website: www.professionalstandardscouncil.gov.au.
You agree not to bring any claim against any of our principals, partners, directors, shareholders or employees in their personal capacity.
To the maximum extent permitted by law, we are not liable to you for:
Director’s Indemnity
If the entity invoiced by us for our services is unable to discharge its liabilities to us, then the entity’s Directors or Trustees agree to personally indemnify us for any such liability.
Tax Audit Insurance
Early in the new financial year, you will also receive an invitation to take out Tax Audit Insurance. This is not compulsory however we do recommend the cover in case of an audit by the ATO.
Ownership of Documents
During our engagement, we will prepare various working papers and notes consistent with our internal quality control system. These working papers remain the property of our firm and will be retained by us to support any future queries on work completed. Original source records provided by you to us to assist in the completion of your work will be returned to you at the completion of each engagement. Where appropriate we may take copies to retain on your client file.
Outsourced Services
Acceptance of our services in conjunction with this engagement document indicates your acceptance of the use of our outsourced office services both locally within Australia and also located in the Philippines, Vietnam & India, as described in relation to the processing of taxation related services. Where the satellite office requires the disclosure of personal information to an overseas recipient a consequence of your consent is that Eyre Accounting Services will be required to take reasonable steps to ensure that the Australian Privacy Principles are complied with by the overseas recipients of the Personal Information.
Use of Client Information for Training, Development, Research and Benchmarking
In accordance with APES 110 Clause 114.3 A3, we may use information provided by you for purposes such as staff training, developing products or technology, conducting research, and preparing industry or benchmarking reports.
Unless you provide explicit written consent, any such use will ensure that neither you nor your business is identifiable in any published or shared materials. If identifiable use is proposed (e.g. as part of a case study or testimonial), we will obtain your written approval in advance.
Documentation
Before we lodge any returns on your behalf, we will forward the documents to you for approval. We will endeavour to ensure that the returns are lodged by the due dates and will advise you when documentation should be provided to us to undertake the work. 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 late lodgement penalties or interest charges you may incur.
Use of Cloud Computing Services
We use Cloud Computing Software to manage, process and function our clients work and business operation. These cloud computing systems store files on remote servers operated by third parties.
Storage of Documents
We also use Cloud Based Data Storage with servers located in Australia and overseas to house your documents and to facilitate the transfer of data files and other information from clients.
The providers of this storage have privacy policies that are consistent with the Australian Privacy Principles.
Accepting our services as part of this engagement agreement indicates your acceptance of the outsourced services, cloud hosted software and outsourced data storage under the conditions outlined above.
If you would like a copy of our complete Privacy Policy or any other information concerning the security of your personal information and data, please contact us and we will be happy to provide further details.
Electronic Communications
We will communicate with you electronically, including sending you Commercial Electronic Messages (as that term is defined in the SPAM Act 2003). You consent to us sending Electronic Communications to you along with agreeing to be included in our e-newsletter subscription and important topical broadcasts as they arise from time to time. If you wish to unsubscribe from Eyre Accounting Services e-Newsletters, please follow the unsubscribe process by selecting ‘unsubscribe’ at the bottom of the email content.
Electronically transmitted information cannot be guaranteed to be secure or virus or error free and consequently such information could be intercepted, corrupted, lost, destroyed, arrive late or incomplete or otherwise be adversely affected or unsafe to use. We will not be liable to you in respect of any error, omission or loss of confidentiality arising from or in connection with the electronic communication of information to you.
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.
Additional Service Terms
We will inform you if we become aware of any conflict of interest in our relationship with you (including between the various persons this engagement letter covers) or in our relationship with you and another client. Where conflicts are identified which cannot be managed in a way that protects your interests then we will be unable to provide further services to some or all of the persons to whom this engagement applies. If this arises, we will inform you promptly.
We may act for other clients whose interests are not the same as or are averse to yours, subject to the obligations of conflicts of interest and confidentiality referred to above.
Service-Specific Terms
Certain services outlined in this proposal may be subject to additional service-specific terms and conditions. Where applicable, these supplementary terms will be included at the end of this document. We strongly recommend that you carefully review all applicable terms before accepting and electronically signing this proposal.
We look forward to working with you and providing ongoing advisory, business, and accounting services. We appreciate the trust you have placed in us by appointing us as your advisors.
