Terms and Conditions

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

Purpose, Scope, and Output of the Engagement

This firm will provide聽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). 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.

Tax returns and financial reports will be prepared for distribution to you for the agreed purpose. There is no assumption of responsibility for any reliance on our report by any person or entity other than yourself and those parties indicated in the report. The report shall not be inferred or used for any purpose other than for which it was specifically prepared. Accordingly, our report may include a disclaimer to this effect.

Period of Engagement

This engagement will start upon the receipt of your signed acknowledgement as below. The first period for which we will be responsible is the tax year ending聽30 June. We will not deal with earlier periods unless you specifically ask us to do so and we agree.

Chiu Consulting Pty Ltd is appointed by you to act as your tax agent聽for the preparation only of the income tax return for the year ending聽30 JUNE [CLIENT/YEAR].聽Before any necessary documentation is lodged by us on your behalf, we will聽forward documentation for approval. We shall endeavour to ensure that the聽documentation is lodged with the Australian Taxation Office (ATO) by the聽due dates, provided all information and documentation is received by such聽specific dates to be advised to you to allow us adequate time for preparation and lodgement of the documentation.

We understand that no statutory audit of your income tax return will be聽required. We will process your tax return based on the information聽provided by you without any review of the primary source documents. We are聽not engaged to review the accuracy of any previous returns lodged by you.聽The final tax return will be forward to the ATO, or if in the case of聽electronic lodgement (ELS), the final taxation return will be kept in our聽office for five years. Any other documents which we are specifically聽engaged to prepare, together with any original documents given to us by聽you, shall be the property of you. Any other documents brought into聽existence by us including working papers and copies of tax returns, will聽remain our property at all times.聽 We shall be entitled to retain all聽documents belonging to you and any related parties we act for until聽payment in full of all outstanding fees.

In relation to your income tax return, we will advise you as to the聽requirements of the substantiation provisions of the legislation (where聽applicable) and of the necessity to maintain acceptable bona fide receipts聽and other documents such as travel diaries and log books, as required.聽Under the current taxation laws, you are required to retain documents and聽records used in preparing your tax return for five years from the date the聽return is lodged.聽 We will also advise you the penalties imposed by the聽tax law for giving false, misleading, or incorrect information.

We will not be providing services or advice on any other state or federal聽tax legislations, taxation planning, financial planning including social聽security legislations and superannuation legislations, unless聽specifically requested by you. If you require any services or advice in聽any of the above areas, please advise us in writing.

Our professional fees will be based on the time and degree of skill and聽acumen to complete the tasks undertaken by us plus out-of-pocket expenses.聽Payment is required at the time of completion of the income tax return,聽unless special alternate arrangements are made with us.