Trustees, or their Adviser / Accountant acting on their behalf, need to sign the Engagement of Services application form of
Payment of fees are payable by Direct Debit Authority signed directly by the Trustees or directly with the Adviser/Accountant. Any variation to this method must be agreed between
Fees are payable for the full financial year regardless of when the fund was established or transitioned for the services. Catch up fees for the elapsed months from any given 1 July to the date of commencement of the regular monthly fees will be charged to the fund’s bank account.
Termination of services must be in writing and will attract a Termination Fee of an additional one
The termination fee will be deducted from the fund’s bank account or paid separately by the client.
In the event of termination,
Once an order has been placed for any deed services, including any company establishments, no refund will be payable. Fees or charges for any mistakes or oversight by the client of required information necessitating any changes or replacement of the deed or associated documents will be payable by the
The purpose and scope of this engagement
This engagement only covers the tax return preparation for the Self-Managed Superannuation Fund, BAS lodgement and ASIC annual renewal activities where services are engaged. The annual ATO taxation return will be prepared for distribution to the Trustees for review and signing. The annual audit of the fund must be undertaken and signed by the trustees of the fund before the SMSF annual return is lodged. The audit will not be undertaken by this office and
In engaging us to provide ASIC related services, it is important for you to understand that although we act as your agent that you are responsible for advising us of any changes to the Annual Statement details within the required 28 days period. You are responsible for all corporate obligations including payment of the ASIC renewal fee.
There is no assumption of responsibility for any reliance on our report by any person or entity other than the Trustees. 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. Any advice we provide is only an opinion based on our knowledge of your particular circumstances.
This engagement will start from the date of signing an application for
In conducting this engagement, information acquired by us in the course of the engagement is subject to strict confidentiality requirements. That information will not be disclosed by us to other parties except as required or allowed for by law, or with your express consent. We wish to draw your attention to our firm’s system of quality control which has been established and maintained in accordance with the relevant APESB standard. As a result, our files may be subject to review as part of the quality control review program of CPA Australia which monitors compliance with professional standards by its members. We advise you that by accepting our engagement you acknowledge that, if requested, our files relating to this engagement will be made available under this program. Should this occur, we will advise you.
The Fund Trustee/s is responsible for the reliability, accuracy
A taxpayer is responsible under self-assessment to keep full and proper records in order to facilitate the preparation of a correct return. Whilst the Commissioner of Taxation will accept claims made by the fund in an income tax return and issue a notice of assessment, usually without adjustment, the return may be subject to later review. Under the taxation
Liability limited by a scheme approved under Professional Standards Legislation.
All original documents obtained from the Fund arising from the engagement shall remain the property of the Fund. However, we reserve the right to make a reasonable number of copies of the original documents for our records. Our engagement will result in the production of the Fund Taxation Return. Ownership of this document will vest in the Trustees of the Fund. All other documents produced by us in respect of this engagement will remain the property of
We may identify one or more issues that are not clear under the tax laws and Trustees have a right to request a Private Binding Ruling from the ATO. Upon providing the ATO with all the relevant facts, they will provide Trustees with a ruling setting out their view on the proper tax treatment of the issue requested to be ruled upon. The Tax Agent Services Act 2009 (TASA) and complimentary amendments to the applicable taxation administration legislation provide statutory protections for taxpayers who engage registered tax agents. In particular, as your tax