Standard Engagement Terms and Conditions

Version: 1.0 – Last updated 01 July 2025

– Tax Store Australia Pty Ltd Trading As Tax Store St Albans
Prepared in accordance with APES 305 and the Institute of Public Accountants’ guidelines.

Client Rights and Obligations

For information about your rights and obligations under the Tax Agent Services Act 2009 and the Code of Professional Conduct, please refer to our TPB factsheets:
👉 https://taxstorestalbans.au/clients-rights

Purpose and Scope of Engagement

We will act in your best interests at all times and provide the highest level of professional service. This engagement covers general accounting, taxation, and advisory services. Specific services will be confirmed in writing and may include:

  • Preparation and lodgment of tax returns and BAS
  • Annual financial statements
  • ASIC compliance
  • Fringe benefits and payroll tax
  • Business advisory

Any service not explicitly listed will require a separate agreement.

Engagement Period

This engagement remains ongoing until replaced or terminated in writing by either party.

BASIS OF ENGAGEMENT

Accounting & Record Keeping

Clients are responsible for maintaining accurate accounting records and internal controls. We recommend:

  • Weekly bookkeeping
  • Monthly bank and debtor/creditor reconciliations
  • Annual stocktakes for trading entities

No Statutory Audits

We are not engaged to perform statutory financial audits and will not express an auditor’s opinion.

Documentation and Lodgement

We will provide documents to you for approval prior to lodgement. We will endeavour to lodge documentation with the relevant authorities by the statutory due dates, provided that all required information is received promptly.

If information is provided late, we will make best efforts to meet deadlines, but no responsibility will be accepted for penalties or interest incurred due to late lodgement.

Ownership and Retention of Documents

  • Final reports and original client documents remain your property.
  • Working papers and internal records remain our property.
  • Documents are retained for 5 years (1 year on-site, 4 years archived), then securely destroyed unless requested otherwise.

Additional Services

Only the agreed scope of work is included in your engagement. Additional services (e.g., ATO correspondence, bank queries, missing info rectifications) are billable.

Business Activity Statements (BAS)

We prepare and lodge BAS based on the data you provide. Clients are responsible for:

  • Accuracy of information
  • GST reporting
  • Valid tax invoices and documentation

Financial Accounts

We prepare:

  • Profit and loss statements
  • Balance sheets
  • Notes to the accounts

Telephone support is provided for general ledger questions.

Income Tax Returns

We are engaged to prepare and lodge income tax returns for you, your family, and/or your entities. You must:

  • Provide full and accurate info
  • Retain documentation to support claims
  • Note that ATO reviews/audits are outside our engagement and charged separately

Fringe Benefits Tax (FBT)

We assist with:

  • Substantiation
  • Calculations
  • FBT minimisation strategies

Single Touch Payroll (STP) Reports

If instructed, we assist with STP lodgment. You remain responsible for:

  • Payroll accuracy
  • PAYG & super compliance
  • Fair Work obligations

We do not verify calculations or documentation.

ASIC Registered Office

We offer registered office services for $110 + GST annually. This includes ASIC correspondence and register maintenance.

Substantiation Requirements

You must keep receipts, logbooks, and other records to substantiate claims. We will advise on what’s required.

Safe Harbour Provisions

You may avoid ATO penalties if:

  • You provide timely, full information
  • We are your registered tax agent

Professional Fees and Payment Terms

Rates (ex. GST):

  • Director/Partner: $280 – $380/hr
  • Senior Accountant: $250 – $300/hr
  • Accountant: $180 – $250/hr
  • Admin: $100/hr

Minimum billing: 6-minute blocks. Fixed fees may apply.

Payment

  • Invoices due within 7 days unless agreed otherwise
  • Late payment may lead to debt collection
  • Work-in-progress (WIP) billed on disengagement
  • WIP must be paid before records are released

Disclosure of Commissions

We disclose all commissions or referral payments in line with ethical standards.

Use and Reliance of Reports

Reports are for your internal use only. Third-party reliance requires our written approval.

Privacy and Cloud-Based Platforms

We use platforms (e.g., Xero, MYOB, Google Workspace) which may store data overseas. By using our services, you consent to this.

👉 View our full privacy policy

Confidentiality and Quality Reviews

We maintain confidentiality. As IPA members, we are subject to quality assurance reviews. You may opt out in writing.

NOCLAR Obligations

We must report serious non-compliance with laws/regulations. You release us from liability for such disclosures.

Third-Party and Offshore Services

We may outsource services (e.g., SMSF audits, bookkeeping) to:

AARK Accounting & Corporate Services (teams in NSW, VIC, India, Philippines, Vietnam)

You consent to this arrangement by engaging us.

Limitation of Liability

Our liability is limited under a professional standards scheme.
More info: https://www.psc.gov.au

Communication and Lodgement

You authorise us to communicate via email and lodge returns electronically. You may revoke consent anytime in writing.

Disengagement Clause

We may disengage if:

  • Fees are unpaid
  • Repeated requests for info are ignored
  • Terms are breached

You will receive written notice and a final invoice.

Professional Standards and Complaints

If dissatisfied, please contact us. We are bound by IPA standards and carry PI insurance.

Unresolved issues may be referred to the IPA: 👉 https://www.publicaccountants.org.au

Engagement Termination

If terminated:

  • Work ceases immediately
  • Final invoice issued
  • Client documents returned on request (if fees paid)

Amendments to Terms

We may amend terms with notice. Continued use of our services confirms acceptance.

Governing Law

These terms are governed by the laws of Victoria. Disputes fall under Victorian jurisdiction.

Third-Party Liability Disclaimer

This engagement is solely with Tax Store Australia Pty Ltd Trading As Tax Store St Albans. Do not pursue claims against third parties we engage.

Privacy and Confidentiality Statement

We comply with the Privacy Act 1988. As registered tax agents, we cannot share your info without consent unless legally required.

Ownership and Retention of Documents

  • Your final and original documents are yours.
  • Our working papers remain ours.
  • Retained for 5 years unless requested otherwise.
  • Statutory docs (e.g. tax returns) cannot be withheld.

Lien Over Documents

We may hold non-statutory documents until fees are paid. You’ll be notified of this if applied.

Client Disclosure and Record Keeping Obligations

You must:

  • Maintain full, accurate records
  • Respond to requests for information
  • Provide timely and complete details

Failure to do so may affect your Safe Harbour protections.

Client’s Rights and Obligations under Taxation Laws

You have:

  • The right to request private rulings
  • The right to object/appeal ATO decisions
  • The obligation to maintain records and lodge returns on time

We will advise you of your rights as they apply.

Tax Practitioner’s Obligation to Comply with the Law

Our legal obligation to comply with the law overrides your instructions if they conflict with legal requirements.

Tax Practitioner Information – Your Rights and Obligations

Superannuation

If engaged for SMSF:

  • We’ll prepare accounts and the Annual Return
  • You must provide timely records
  • Audit fees and actuarial fees are your responsibility

We do not provide legal or investment advice.

Previous Returns

We do not review past returns. We rely on prior balances and information unless instructed otherwise.

Taxes and Duties

GST and other taxes apply as per legislation and are payable with our fees.

Client Feedback

We welcome feedback. Please contact our directors if you have concerns.

Individual Income Tax Return Annual Engagement

Last Updated: 19/07/2025
Subject: Preparation of Your Individual Tax Return

Dear our valued customer,

Thank you for engaging Tax Store Australia Pty Ltd Trading As Tax Store St Albans to assist with your personal tax affairs. This letter outlines the terms of our engagement.

  1. Scope of Work

We prepare your tax return based on the information you provide. We do not audit or verify your data.

  1. Your Responsibilities

You are responsible for:

  • Supplying complete and accurate info
  • Keeping original documents
  • Reviewing your return before signing
  • Complying with tax law deadlines
  1. Use of Judgement and ATO Audit Risk

We apply professional judgement. You are legally responsible for your return. ATO may audit you. We can assist under a separate engagement.

  1. Timing and Deadlines

Send your info early. We may not lodge on time if documents are late. Remission assistance is extra.

  1. Fees and Billing

Fees are based on time and out-of-pocket costs. Payable on delivery or within 7 days. Extra services (e.g., ATO audits) are charged separately.

  1. Document Retention

We retain working papers for 5 years. Your originals are returned. File retrieval may incur a fee.

  1. Acceptance of Terms

By signing or submitting online, you agree to the above terms, authorise us to proceed, and accept our fees and conditions.

If you have questions, please contact us.

We appreciate the opportunity to support you.

Kind regards,
Frank Ha Nguyen
Principal
Tax Store Australia Pty Ltd Trading As Tax Store St Albans

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