We aim to do business with you fairly, professionally and in a transparent manner. We will do our best to ensure you are happy with our service.
Terms of Business
KTG Accountants & Business Advisors Pty Ltd has set out in this document our basic terms and conditions, which together with our Engagement letter, will apply to all work performed by us.
1. Performance of Services
1.1 We will provide the Services as set out in our Engagement Letter and will use all reasonable commercial efforts to provide the Services in an efficient and timely manner, using the necessary skill and expertise to a professional standard.
1.2 To perform the Services, we will require your timely cooperation, including:
(a) promptly providing us with all information and documents that we require;
(b) ensuring that all information you provide us is true, correct and complete;
(c) arranging access to third parties where applicable.
1.3 Unless both parties agree otherwise in writing, dates in any timetable set out in the Engagement Letter or otherwise are intended for planning purposes only and are not contractually binding.
1.4 The scope of the Services is limited to the work specified in our Engagement Letter. The services that we provide are not legal services and do not constitute legal advice. Either party may request changes to the Services.
1.5 Our work will be based on the information provided to us or obtained by us with your authority. We rely on you bringing to our attention any significant changes in the information as it may alter our advice. You will ensure that information supplied by you is, to the best of your knowledge, not false or misleading and does not omit material particulars. We will not verify the accuracy and completeness of documentation or information that is provided to us.
1.6 We have not audited or independently verified the accounting records or information that you have provided to us.
1.7 All income tax returns may be subject to examination by the Australian Taxation Office (“ATO”). You may be requested to produce documents, records or other evidence to substantiate items shown in the income tax return. An examination may involve an audit, review, questionnaire or request for additional information.
1.8 The collation of your income tax return does not constitute a tax audit and cannot be relied upon as such. The onus is on you, the taxpayer, to self-assess and there may be substantial penalties for incorrect returns. You should carefully review the income tax return to ensure that items shown are accurately stated and that amendments can be made for any incorrect matters. You are required by law to keep full and accurate records relating to your tax affairs.
1.9 We do not accept responsibility and will not be liable for any direct or indirect damage or loss caused by errors or omissions contained in external information.
1.10 In the course of providing the Services, we may provide oral comments or draft reports, presentations, letters, schedules and other documents. No reliance shall be placed on such oral comments or draft documents, conclusions or advice as they may be subject to further work, revision and other factors. The final results of our work will be set out in our final report or advice.
1.11 Changes in the law may take place before our advice is acted upon or may be retrospective in effect. We accept no responsibility to inform you of changes in the law or interpretations affecting advice previously given by us.
1.12 Some of the matters on which we may be asked to advise you may have tax implications for other entities or other parties. Unless specifically included in the engagement letter, we will not bear any liability to you or any other parties in respect of those tax implications, and you indemnify us against any claim by any such entities, directors, employees or other parties in this respect.
1.13 Our Services will be provided solely for your benefit and use unless otherwise confirmed in the Engagement Letter. We accept no liability or responsibility to any third party in respect of the Services.
1.14 We are not legal advisors and are not qualified to produce legal documents.
1.15 We are not financial planners and are not qualified to give financial or investment advice. Any general or incidental advice given should not be viewed to be or taken to be financial or investment advice.
2. Confidentiality
2.1 For the purpose of this Agreement, “Confidential Information” means all non-public information or documents which either party receives or produces in connection with the Services and includes our working papers, information and methodologies, but does not include any information which is:
(a) generally available to the public other than as a result of a breach of this clause;
(b) known to either party prior to our Services;
(c) received from a third party who owes no obligation of confidence in respect of the information;
(d) is developed by either party independently of the Services to which this Agreement relates.
2.2 We may disclose Confidential Information to Contractors in relation to the provision of the Services, to assist in quality assurance reviews or for its business purposes and either party may disclose Confidential Information to:
(a) its insurers or legal advisors, provided that the Confidential Information remains confidential;
(b) if required to do so by law or by a regulatory authority including under subpoena;
(c) if required for the proper performance of the Services.
2.3 Subject to Clause 2.1 we may cite the performance of the Services to other clients as an indication of our experience without identifying the original client.
3. Privacy Policy & Quality Control
3.1 In performing the Services, we are committed to complying with the legal requirements of the Privacy Act 1988 and any other applicable legislation or privacy guidelines.
3.2 If the performance of the Services requires a third party to this Agreement to supply personal information to us on your request, it is your obligation to ensure that the third party has satisfied the requirements of the Privacy Act and is permitted by the Privacy Act to disclose such personal information to us.
3.3 If information is disclosed to us in the course of our engagement, it will be treated in accordance with the Privacy Act and the terms of our privacy policy.
3.4 The conduct of this engagement is in accordance with the standards and ethical requirements of the Institute of Chartered Accountants in Australia which means that 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 professional standards, or with your express consent.
3.5 We are subject to a quality control review program conducted by Chartered Accountants Australia and New Zealand. The work we perform for you may be selected by the examiners for review. You acknowledge that, if requested, our files relating to this engagement will be made available. If you object to being included in any of these review processes, you must advise us in writing at the commencement of the engagement.
4. Intellectual Property
4.1 You must retain original copies of all data provided to us. We expressly exclude liability for any loss of client Data.
5. Conditions
5.1 If we are provided with custody of any documents by you or on your behalf, including share registers or constitution documents, those documents will be retained during the course of our appointment.
5.2 In relation to any subsequent termination of our services, you are advised that we shall be entitled to retain all documents belonging to you and any related parties we act for until payment is received in full for all outstanding fees.
5.3 All original documents obtained from you arising from our engagement will remain your property. However, we reserve the right to make a reasonable number of copies of the original documents for our records.
5.4 Our engagement may result in the collation of income tax returns, financial accounts and other presentation reports. It may also result in the provision of taxation advice. Ownership of these documents will vest in you. All our other working papers in respect of our engagement will remain our property.
5.5 You agree that we do not accept any liability for the content or performance of any third party website accessed through our website and do not endorse or approve the contents of any such site.
6. Electronic Communications
6.1 We may communicate with you electronically
6.2 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.
7. Problem Resolution
7.1 If at any time you would like to discuss with us how the services can be improved or if you have a complaint about them you are invited to email or telephone us and discuss. We will investigate promptly and do what we can to resolve.
7.2 If the problem can not be resolved, the parties agree to enter into mediation or some other form of alternate dispute resolution before commencing legal proceedings.
7.3 In the event of a dispute, or where fees remain unpaid, we reserve the right to suspend provision of services.
8. Limitation of Liability
8.1 Our liability is limited by a scheme approved under Professional Standards Legislation (PSL). Further information on the scheme is available from the Professional Standards Councils’ website: http://www.professionalstandardscouncil.gov.au.
8.2 Where the PSL Scheme does not apply the liability of KTG Accountants & Business Advisors Pty Ltd for loss or damage arising from or in relation to the Services is limited to an amount equal to ten times the fees payable by you for the Services.
8.3 The parties acknowledge the Australian Professional Standards Legislation, may apply in accordance with its terms in relation to the liability of KTG Accountants & Business Advisors Pty Ltd for loss or damage arising from or in relation to the Services.
8.4 If you make any claim against us for loss arising out of or in connection with the Services, liability for your loss and any amount you may recover will be apportioned having regard to the respective responsibility for the loss.
8.5 We have not made any, and to the extent permitted by law we exclude, all warranties, conditions or guarantees of any nature in respect of the Services or the satisfactory conclusion of the Services or with respect to the economic, financial or other results which you may experience as a result of the provision of the Service.
9. Our Fees
9.1 Where you have agreed to a fixed Fee Proposal, we will not change the amount or frequency of the charging arrangements without your prior approval.
9.2 Accounts are to be paid in accordance with our general terms of 14 days from the date of invoice.
9.3 Additional services beyond the scope of the engagement will be invoiced as agreed.
10. Contractors
10.1 We reserve the right to employ Contractors, and any reference to our staff includes Contractor staff. Subject to any contrary provision in our Engagement Letter we will remain liable to you for any of the Services that are provided by our Contractors.
10.2 Contractor employees will perform services in our offices unless otherwise specifically agreed with you.
11. Term and Termination
11.1 This Agreement will apply from the commencement date stated in the Engagement Letter, or where no commencement date is specified, from the date of acceptance of the Agreement as specified in our Engagement Letter or the date on which the Services commenced, whichever is earlier.
12. Conflict of interest
12.1 We 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 operation of these arrangements depends, in part, on you complying with your obligation to disclose any potential conflicts of interest to us.
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.
13. Our obligation to comply with the law
13.1 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.
13.2 Our advice and/or services will be based on the Australian tax law in force and the practice of the Australian Taxation Office applicable as at the date of this letter. Our advice and/or services will be based on Australian taxation law 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.