Terms and Conditions

These are the Terms of Engagement (“Terms”) between:
Astro Accountants Pty Ltd Trading As Evolution Accountants (“We”) ABN 31 857 090 378 and the client (“You”)
This Agreement is constituted by these Terms and any other later document that we advise you becomes part of, or varies this Agreement. These Terms confirm our understanding of the nature and the limitations of the services we will provide. This document is all encompassing and should be read in conjunction with your quoted services. Only quoted service areas will apply to these terms.

 

 A. Purpose of the Engagement – refer to your quote for services we are providing to you.
 1. We agree to be available when you need us, willing to listen and quick to respond – at no extra cost to you.

  • Quick telephone calls and email reminders and replies are FREE
 2. We agree to prepare for you the following documents:

  • Annual Financial Statements
  • Income Tax Returns, including estimates of your taxation position and advice about taxation payments
  • Minutes of Meetings of Directors, Trustees and Shareholders
  • Fringe Benefits Tax Returns
  • Business Activity Statements (BAS’s)
 3. We agree to provide you with the following XERO monthly and quarterly services:

  • Classifying Xero bank account transactions each month
  • Preparation of Monthly Bank Reconciliations
  • Preparation of Quarterly Interim Financial Statements
  • Preparation of Quarterly Management Reports
  • Annual Profit Projection
  • Processing of monthly Payroll using Xero Payroll
4. We agree to provide you with the following annual services:

  • Annual Tax Planning meeting and advice
  • Annual Business and Personal Needs Analysis for you and your family
  • Preparation of your Trust Minute for distributions of profits
  • ASIC Management – Company Annual Review forms and Company changes forms
5. We will provide the services listed above for the following any individuals and/or entities listed within your quote specific to the quote items:

  • Individual
  • Company
  • Trust
  • SMSF

 

 B. Price Estimate and Payment Terms
 1. The price for our services is established with you in advance. This way there are no surprises for you.
 2. Our quote will be provided to you in advance and will include GST
 3. In order to offer your our lowest price and to allocate our resources effectively we require the following payment terms: 100% payment up front before we begin providing our services. In additional, payment in full must be made before we can finalise your work and lodge your Income Tax Returns with the Australian Taxation Office.
 4. In the event that we do not receive payment upfront and of you being in default of your obligation to pay us within the above 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.
 5. If an unanticipated need arises, we agree to perform this work at a mutually agreed upon price before the service is provided. This service will be Invoiced to you separately, as a new job, and will be payable immediately after issue of our Invoice to allow us to continue working.
 6. Our price estimate is based upon the information you have provided to us about your current financial circumstances. Factors that can increase this price estimate include the following:

  • Computer accounting records that do not reconcile as at year or period end (eg. bank accounts, accounts receivable and accounts payable listings, GST reconciliations, wages and PAYG tax reconciliations).
  • Incomplete and missing financial records.
  • Non lodgement of BAS statement
  • Incorrect lodgement of BAS statements
  • Purchase and Finance of Assets not entered
  • Organising payment arrangements with ATO
  • End of year minutes and changes to your shareholding or company register
 7. We will notify you immediately if we become aware of any of the above factors that would lead to a price estimate increase, and we will request that you confirm in writing or e-mail to us that you agree to this estimated price increase.
 8. Any other or additional services that you may request from us will be provided to you on a project by project basis. We will provide you with an up-front price estimate and payment terms for each project before we begin work on each project.

 

 C. Monthly Fixed Price Agreement for Advice and Tax & Bookkeping packages
 1. The price for our services is established with you in advance. This way there are no surprises for you.
 2. Our price for the services listed in our quote will be for the period of 12 months.
 3. Unless otherwise agreed, this amount will be indexed upward by 5% in July of each year.
 4. In the event of you being in default of your obligation to pay us within the above 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.
 5. Monthly payments must be made by Credit Card. We will provide you with a document to sign to authorise your monthly payments to us. Payment of the total amount listed above must be made before we lodge your Income Tax Returns or prepare your bookkeeping or offer you advice. Your fees will be paid in monthly in advance.
 6. If an unanticipated need arises, we agree to perform this work at a mutually agreed upon price before the service is provided. This service will be Invoiced to you separately, as a new invoice, and will be payable immediately at the issue of our Invoice.
 7. You can contact us any time for advice on ad hoc matters, knowing that we won’t charge you an additional amount for that advice. This is subject to the understanding that if an occasion of service exceeds 20 minutes, you will be notified at that limit and that a fee will be charged but only after we have consulted with you and only if you feel that you received value from the consultation.
 8. To assure that our arrangement remains responsive to your needs, as well as fair to both parties, we will meet throughout the year and, if necessary, revise or adjust the scope of the services to be provided and the prices to be charged in light of mutual experience.
 9. It is understood that either party may terminate this Agreement at any time, for any reason, within 30 days of written notice to the other party. It is understood that the agreement was for 12 months so any unpaid services that you have received in advance will be payable (eg. Finalised Tax Returns and Financial Statements)
 10. Any other or additional services that you may request from us will be provided to you on a project by project basis. We will provide you with an up-front price estimate and payment terms for each project before we begin work on each project.

 

 D. Scope of our Services
 1. We will provide the above 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 will be limited exclusively for this purpose. 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.
2. Our professional services are conducted and the Annual Financial Statements and special purpose Accounting Reports will be prepared for distribution to the relevant specific organisation or party for the purpose specified in the report or as agreed. We disclaim any assumption of responsibility for any reliance on our professional services to any party other than as specified or agreed, and for the purpose which it was prepared. Where appropriate, our report will contain a disclaimer to this effect.
 3. Our advice will cover income tax and Goods and Services Tax. It will not cover any other taxes such as stamp duty, land tax, or payroll tax. The scope of our engagement will be limited to the performance of the services listed above.
 4. Use of Contractors and Other Outsourced Third Party Services. We may involve third party contractors or outsourced service providers in providing various aspects of your accounting work. These services may include:• Accounting file preparation and/or Data entry into our accounting systems• Auditing of accounts (including Self-Managed Super Funds)• Actuarial (pension) analysis• Financial Planning & Dealing with Financial Institutions

• Home Loan , Business Loan & Personal Loan Services

• Investment and Insurance Services

 

 E. Your Disclosure and Record Keeping Obligations
 1. You are required by law to keep full and accurate records relating to your tax affairs in order to facilitate the preparation of accurate tax returns. The responsibility for the accuracy and completeness of the particulars and information provided to us by you rests with you. Any advice given to you by us is only an opinion based on our knowledge of your particular circumstances.
2. It is your obligation to provide us with all information that you reasonably expect will be necessary to allow us to perform work specified under this engagement within a timely manner or as requested. This includes providing accurate and complete responses to questions asked of you by us within 10 working days. Inaccurate, incomplete or late information could have a material effect on our services and/or our conclusions and may result in additional fees.
 3. You are also required to advise us on a timely basis if there are any changes to your circumstances that may be relevant to the performance of our services. Specifically, if any subsequent event results in the information you provided to us being inaccurate, incomplete or misleading, then you are obliged to advise us as soon as possible. We take no responsibility to the extent that our advice is inaccurate, incomplete or misleading because it is based on inaccurate, incomplete or misleading information being provided to us.
 4. By accepting the terms in this Agreement, you will be taken to have agreed that the performance of our services is dependent on the performance of your obligations relating to disclosure and record keeping. You are responsible for the reliability, accuracy and completeness of the accounting records and disclosure to us of all material and relevant information.
 5. The Taxation Administration Act 1953 contains specific provisions that may provide you with “safe harbours” from administrative penalties for incorrect or late lodgement of returns if, amongst other things, you give us “all relevant taxation information” in a timely manner. Accordingly, it is to your advantage that all relevant information is disclosed to us as any failure by you to provide this information may affect your ability to rely on the “safe harbour” provisions and will be taken into account in determining the extent to which we have discharged our obligations to you.
6. You are also required to advise us if you become aware of any conflict of interest or potential conflict of interest. Generally, a conflict of interest is any event which may result in us becoming unable to remain objective in the performance of our services to you. Some examples of events which could give rise to a conflict of interest or potential conflict of interest during this engagement are changes to your business circumstances, events affecting your family (eg. death and/or marriage breakdown) or a legal action commencing against you.
 7. In relation to your financial records, you will specifically be responsible for:

  1. Transaction entries into your business computer records
  2. Coding all deposits and payments in accordance with the agreed Chart of Accounts
  3. Reconciling the Bank Accounts on a monthly basis
  4. Maintenance and reconciliation of your business wage records
  5. Maintenance and reconciliation of your Accounts Receivable and Accounts Payable listings
  6. Obtaining and retaining sufficient records to substantiate claims made for income tax deductions
  7. Uploading, emailing and disclosing your electronic information and documents
  8. Retaining copies of all financial records for a period of 5 years
  9. Providing to us all financial information requested within 10 working days of our request
 8. Please note that if you do not provide us your financial information properly reconciled and in the format requested by us, any up-front or Fixed Quotes we have provided to you will not be applicable and the cost of our services will be higher.

 

 F. Your Rights and Obligations under the Taxation Laws
 1. You have certain rights under the taxation laws, including the right to seek a private ruling from the Australian Taxation Office (ATO) or to appeal or object against a decision made by the Commissioner. As relevant, we will provide further information to you concerning your rights under the Australian taxation laws while we provide our service to you. You also have certain obligations under the Australian taxation laws, such as the obligation to keep proper records and the obligation to lodge returns by the due date.

 

 G. Our Obligation to Comply with the Law
 1. We have a duty to act in your best interests. However, the duty to act in your best interests is subject to an overriding obligation to comply with the law even if that may require us to act in a manner that may be contrary to your interests. For example, we could not lodge an Income Tax Return for you that we knew to be false in a material respect.
2. We also have an obligation to ensure that we manage conflicts of interest as they arise. In this regard, we have arrangements in place to ensure that we manage potential or actual conflicts of interest. The effective operations of these arrangements depend, in part, on you complying with your obligation to disclose any potential conflicts of interest to us (see section D above).
 3. Our advice and/or services will be based on Australian Taxation Laws in force at the date of the provision of the advice and/or services. It is your responsibility to seek updated advice if you intend to rely on our advice at a later stage. We note that Australian Taxation Laws are often subject to frequent change and our advice will not be updated unless specifically requested by you at the time of the change in law or announced change in law.

 

 H. Confidentiality
 1. We will not disclose any information relating to your affairs to any third party without your consent, unless required by law or unless disclosed in these Terms (see Section c4). You may provide us with permission to disclose your confidential information in certain circumstances, or place conditions on the disclosure of certain confidential information.
 2. We rely on third party software provided and online record keeping. Not limited to such online provider as Xero.com to preform our services please visit http://www.xero.com/au/about/terms for a full terms and conditions from our software provider as they directly relate to your services. We take no responsibility for data loss, corruption or security and confidentiality where these third parties involved in supplying your service. When agreeing to this document you are also agreeing to the terms of of the third party providers.

 

 I. Ownership of Documents
 1. All original documents obtained from you arising from this engagement will remain your property. However, we reserve the right to make a reasonable number of copies of the original documents for our records.
2. Our engagement will result in the production of Financial Statements, Income Tax Returns, and other Super Fund Documents, including electronic documents or fileswhich will be supplied to you. Ownership of these documents will vest in you. All other documents produced by us in respect of this engagement will remain our property.
 3. We will exercise a legal right of lien over any of your documents in our possession in the event of a dispute between us. We also have established dispute resolution processes, details of which are available on request.
 4. Change of ownership with in the accounting firm. In the event that Astro Accountants Pty Ltd merge or is sold in full or part that you agree that your client contact information and files can be passed over. You also agree that the files that are currently being worked on or have been finalised can be passed on.

 

 J. Limitation of Liability
 1. Our liability is limited by a scheme approved under Professional Standards Legislation. Further information on the scheme is available from the Professional Standards Council – www.professionalstandardscouncil.gov.au

 

 K. Your Acceptance of these Terms
 1. At any time prior to the acceptance of the Terms of Engagement, you may provide us with your comments regarding the terms and raise any concerns that you may have with us.  We will give full consideration to your comments and will negotiate with you to formulate acceptable amendments where possible.  By ticking this item in our online application form you are agreeing with these terms and take full responsibility for the information uploaded and prepared on your behalf by our accountants.
2. You acknowledge that you:

  • Understand and agree to the nature of our relationship and the services provided by us as outlined in this Terms of Engagement.
  • Understand and agree to the prices and payment terms that will apply to the services agreed to in this Terms of Engagement.
  • Consent to operate electronically, upload documents, be contacted via email or use any other source of technology and understand the risks involved in doing so
  • Consent to receiving e-mail newsletters from us.

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