I / We hereby direct & instruct GODSPEED ACCOUNTANTANTS PTY LTD AND ANY ASSOCIATED PERSONS AND /OR ENTITIES to provide the following services and carry out the following work and to advise on my behalf or on behalf of any entity of which I am a Director, Beneficiary, Appointer, Trustee, Partner, Member or Controller, from time to time, as and when they fall due or as requested by me. This Terms and Conditions page serves as our engagement letter, outlining the basis of our professional relationship with you. It is aligned with the ethical and professional standards of APES 110 (Code of Ethics for Professional Accountants) and APES 305 (Terms of Engagement. Godspeed Accountants Pty Ltd (“we” or “us”), as a Registered Tax Agent and Public Accountant, offers a range of services including bookkeeping, Business Activity Statement (BAS) preparation, tax return preparation, and advisory/consulting services. These terms describe the scope of services, our responsibilities, and your obligations as a client. By engaging our services (or continuing to use our website and services), you acknowledge and agree to these Terms and Conditions.

 

CATEGORICAL SCOPE OF PROFESSIONAL SERVICES

​

• Corporate and Management Accounting

• Strategic Tax Planning and Structuring

• Lodgement of Annual Returns with the Australian Securities and Investments Commission (ASIC)

• Compilation and Certification of Annual Financial Statements

• Periodic (Monthly/Quarterly) Financial Reporting

• Preparation of Minutes for Corporate Meetings

• Compilation of Financial Packages for Loan Applications

• Land Tax Compliance and Lodgements

• Individual and Entity Income Tax Returns

• Estate and Succession Planning

• Compliance with Training Guarantee Legislation

• Payroll Tax Advisory Services

• Child Support Legislative Guidance

• Work Cover Compliance Advisory

• Superannuation Compliance and Levy Management

• Capital Gains Taxation Strategies

• Social Security Legislative Support

• Execution and Stamping of Statutory Documents

• Corporate Resolutions and Meeting Documentation

• Fringe Benefits Tax Structuring and Compliance

• Preparation of Forms for Statutory Bodies

• Document Lodgement in Compliance with Regulatory Requirements

• Superannuation and Insurance Compliance

• Advisory on Business Acquisitions and Sales

• Comprehensive State and Federal Tax Compliance

• Lodgement of Miscellaneous Statutory Documentation

• Advisory and Preparation of BAS/IAS and GST Returns

• Other Ancillary or Custom Services as Agreed

 

I undertake and guarantee to pay all professional fees and disbursements as specified by my letter of engagement or as agreed on behalf of myself or any entity previously mentioned. This does not diminish my rights.

​

Engagement of Godspeed Accountants Pty Ltd as Accountant/Business Adviser

 

Following our discussions, we are/I am pleased to accept your appointment as your accountant/business adviser. I/We seek to always act in the best interests of our clients and to provide the highest level of professional services.

 

The scope of the engagement is as set out below (and any additions shall only be by agreement of both parties and evidenced in writing):

 

• Analyse, discuss and make recommendations regarding your accounting records and financial affairs; Prepare financial and other statements as requested.

• Prepare and lodge company, trust and personal income tax returns, review assessments and advise on appeal procedures where necessary.

• Prepare and lodge quarterly business activity statements (gst).

• Undertaking of special assignments for such matters as management consulting services, business acquisitions and other similar matters.

• Any other matters which may arise from time to time.

​

Professional Fees and Payments​​

All professional fees for the services provided to you will be based on the time and degree of skill and acumen required to complete the tasks required, including out-of-pocket expenses and statutory charges, unless otherwise agreed between the parties.

 

Fees and Billing Arrangements​​

Our fees for services may be structured on an hourly rate basis, fixed fee basis, or a combination, depending on the engagement and as agreed with you in advance. Hourly Services: If billed hourly, the rate will reflect the level of staff expertise required for the task (for example, rates for a Principal or Senior Accountant versus a Bookkeeper or Assistant). We will provide you with our current hourly rates or an estimate of the time anticipated for your work upon request. Fixed or Quoted Fees: For some standard services (such as individual tax returns or certain compliance packages), we may offer a fixed fee or a price estimate quoted upfront before commencing the work. If the scope of work changes or additional tasks are requested outside the original scope, we will discuss any fee adjustments with you before proceeding.

For work undertaken for periods of less than an hour, the rate shall be charged in 6-minute blocks, or part thereof. All professional fees are GST exclusive.

Any estimate of the cost of service is only an estimate, and the actual cost may vary. It is not always possible to provide an accurate estimate of the total cost, as the total cost may change due to unforeseeable problems and delays, the cooperation or otherwise of third persons and deficiencies in documentation. If the costs are likely to be significantly higher than originally estimated, I/we will provide you with an additional letter of engagement informing you of this and setting out the reasons for the likely increase. All professional fees for the services provided are quoted to you based on the time and degree of skill and acumen required to complete the tasks, including out-of-pocket expenses and statutory charges, unless otherwise agreed between the parties. However, this figure may change due to matters outside my/our control such as an unforeseeable delay, the cooperation or otherwise of third persons, deficiencies in documentation provided and/or increased statutory charges. If the costs to you is likely to be significantly higher than originally estimated, we will provide you with an additional letter of engagement, inform you of this and the reasons for the likely increase.

​

Billing and Payment​

We will invoice periodically (e.g. monthly, weekly or on completion of milestones) or as otherwise agreed. Our invoices will include details of the work performed. Payment terms are 7 days from invoice date unless otherwise stated. We reserve the right to charge interest on overdue amounts or impose late payment fees as allowed by law and professional guidelines. If you have any questions about an invoice, please contact us promptly to discuss. In some cases (for example, large engagements or lengthy projects), we may require an initial payment or retainer before work commences, which will be applied to the final bill.

 

Disclosure of other fees and commissions

We disclose to our clients any commissions or other fees received because of work done for that client and will fully comply with any statutory requirements about the disclosure of such information.

​

Documents​

Before we lodge any necessary documentation on your behalf, we will forward draft documentation to you for approval. We shall endeavor to ensure that documentation is lodged with the relevant departments by the due dates, provided all information and documentation is received in time) to allow me adequate time for preparation and lodgment of the documentation.

​

​

Responsibility for Accounting and Internal Control Systems

We advise that the responsibility for the maintenance of a business accounting system and internal control systems rests with you (the client), including the protection of and prevention against fraud. You will be responsible for the maintenance and keeping of books of account. If any material weakness in the accounting system or internal control systems comes to my/our notice, We will advise accordingly. It is important to remember that you are personally responsible for the information contained in any statutory return and that you must retain all necessary supporting documentation to substantiate your transaction. We will not take responsibility for any failure on your behalf to maintain adequate records.

 

Ownership of Documents

The final financial statements, tax return and any other documents which we are specifically engaged to prepare, together with any other original documents given to us, shall remain your property. Any other documents brought into existence by me/us, including general journals, working papers, the general ledger, draft financial statements and/or tax returns, will always remain our property. However, we will always provide you with copies of any documents that you may require from time to time. Unless otherwise agreed in writing: Your Documents: Source documents you provide to us (such as receipts, bills, bank statements, ledger files) remain your property and will be returned to you upon request or completion of the services. Likewise, any final documents we prepare for you (financial statements, tax returns, etc.) become your property upon full payment for our services. Our Working Papers: The working papers, checklists, calculations, internal notes, and drafts that we create during the engagement remain our property. We maintain these working papers to document the work performed and as evidence of compliance with our professional obligations. We are required by law and professional standards to keep engagement files (which may include copies of documents you provided and our work papers) for a certain minimum period (often 5 to 7 years). These records are kept confidential in accordance with our Privacy Policy and professional confidentiality rules (see “Confidentiality” below).

 

Lien over Documents

In the event our services are terminated (whether by you or by us) or if there are outstanding fees, we reserve the right to exercise a lien over certain documents we have prepared for yo. A lien is a lawful right to retain possession of documents or property until debts related to those items are paid. This means that if you have not paid our fees as agreed, we may hold back documents such as finalized reports, financial statements, or tax returns that we have prepared (and which have not yet been lodged or delivered) until full payment is received. We will, however, comply with all legal and ethical obligations regarding such liens. In case of a dispute over fees or a lien, we will engage with you to resolve the matter, potentially through mediation or as required by the regulations of the Tax Practitioners Board (TPB) and our professional body. Note that we will never hold your original personal records or identification documents as part of a lien – those will be returned to you on request, even if fees are outstanding, as required by law.

 

Outsourcing and Third-Party Involvement:​

On occasion, we might involve other professionals or contractors to assist with your work (for instance, specialist tax consultants, bookkeeping staff, or an external cloud bookkeeping service). You agree & permit us to disclose your information to any such third-party service provider, and we will ensure they are bound by confidentiality as well. We also may use external software or cloud platforms (such as accounting software or secure data storage) in performing services; by engaging us, you consent to our use of these tools, provided we take reasonable steps to safeguard your data.

​

Quality Review​

As our qualified staff are members of the Institute of Public Accountants (IPA) we are subject to periodic quality assurance reviews (as well as annual audit of our trust account). Unless otherwise advised by yourself, by engaging our firm, you are consenting to your files possibly being part of such a quality review. As part of our commitment to maintaining high professional standards by accepting these terms, you acknowledge and consent that your engagement files may be selected for review in such a quality assurance program. Typically, this means an accredited reviewer could access your file to ensure we are complying with professional standards. Any such third-party reviewer is also bound by confidentiality obligations not to reveal your information outside the review. If you object to your file being reviewed in this manner, you must let us know in writing; note that refusal might affect our ability to continue providing services if required quality reviews cannot be performed

​

Confidentiality and Privacy​

We treat all information that you provide to us, or that we acquire during our engagement, with the strictest confidence. Confidential Information: Unless required by law or permitted by professional standards, we will not disclose your confidential information to any third party without your consent. This confidentiality obligation covers all your personal and financial information, tax file numbers, business records, and any advice or documents we create for you. We are also bound by the Tax Agent Services Act 2009 (including the TPB Code of Professional Conduct) which includes confidentiality obligations, and by the Privacy Act 1988 (Cth) regarding personal information. We will handle your personal information following our Privacy Policy (see that section on our website for details) and the Australian Privacy Principles. We store records securely and protect your data as required under the Privacy Act. If you believe there has been a breach of your privacy or confidentiality, please inform us immediately so we can take corrective action. Any serious breach of privacy may be reported to the Office of the Australian Information Commissioner (OAIC) by you or by us as required.

 

Professional Standards and Liability Limitation

​Godspeed Accountants Pty Ltd and its principals are members of professional accounting bodies and participate in applicable Professional Standards Schemes. Liability Limited by a Scheme: To the extent permitted by law, our liability for any professional negligence or claims arising from this engagement is limited by a scheme approved under Professional Standards Legislation. This scheme limitation is a statutory cap on liability that applies to members of approved professional bodies (such as Chartered Accountants ANZ, CPA Australia, or the Institute of Public Accountants). You can ask us for information on the scheme if you require more details. In summary, while we stand behind our work, we are part of a regulated professional scheme that limits our civil liability in the event of certain claims, as long as we have adhered to professional standards. This limitation of liability does not apply to liabilities that cannot be limited by law (for example, we do not limit liability for fraud, dishonesty, or breaches of trust).

We also confirm that we comply with all requirements of the Tax Practitioners Board (TPB) as a Registered Tax Agent. We maintain the necessary professional indemnity insurance as required by TPB regulations. We continually seek to uphold the highest standards of quality and ethics in line with APES 305 (which guides terms of engagement) and APES 110 (ethical conduct), and we subject ourselves to ongoing professional development and internal quality control.

 

Previous Accountant

As a matter of professional courtesy, and in line with the requirements of the IPA, We will need to inform your previous accountant that we/I have been engaged by you as your new accountant and to receive from them any outstanding matters and files. You may refuse to provide this information but in doing it may cause problems in the efficient transfer of your files. If you agree with above terms of engagement, please sign and return the attached duplicate letter to me. I also attach tax forms for your signature, to authorize me to act on your behalf about your tax affairs. It is the requirement of the Australian Taxation Office for each taxpayer to sign an appointment form.

​

Governing Law and Jurisdiction​​

The engagement between you and Godspeed Accountants Pty Ltd is governed by the laws of New South Wales, Australia. Both parties agree to submit to the non-exclusive jurisdiction of the courts of New South Wales in the event of any dispute. These Terms and Conditions are designed to comply with Australian law, including relevant NSW legislation, and any applicable regulations of the Commonwealth of Australia. If any provision of these terms is found to be invalid or unenforceable under law, it will be severed to the extent of its invalidity, and the remainder of the terms will continue to apply.

​​

Acceptance of Terms​​

By continuing to instruct us, using our services, or by signing an engagement agreement or consent form referring to these Terms and Conditions, you indicate your acceptance of this engagement on these terms. If you have any questions or concerns about the content of this Terms and Conditions page, please contact us for clarification before proceeding. We value clear communication and aim to foster a transparent, professional relationship with you at all times.

Should you have any further queries in relation to the above, please do not hesitate to contact us.

​

​

Assignment of tax refund and authority to deduct fees​​

At my request and in consideration of not being required to pay monies on account of professional services to which I may become entitled in advance, I hereby assign to GODSPEED Accountants Pty Ltd and any associated persons and/or entities (“GODSPEED”) ANY tax refunds or any other moneys received from me or on my behalf (including third party cheques) or on behalf of any company, trust, partnership or other legal entity of which I am a Director, Shareholder, Beneficiary, Appointor, Trustee, Partner or in which I hold any membership or interest (“Moneys Assigned”). Accordingly, as from the date of this document, in accordance with this assignment GODSPEED are authorised to receive and bank any Moneys Assigned. By their acceptance of this assignment GODSPEED agree to pay, as directed by me an amount equal to the Moneys Assigned and the amount of all fees in regards to tax returns prepared, the cost of managing tax affairs, accounting work performed, advice provided, disbursements and any other fees incurred on my instructions, or the instructions of any person or entity listed below, such as solicitors fees, barristers fees, valuers fees and any fees or premiums (“Refund”) paid on behalf of;

1. Any of my relatives, including my spouse (legal or de facto), son, daughter, brother, sister, mother, father, mother-in-law, father-in-law, or any person related to me by blood, marriage, or domestic partnership;

2. Any company in which I am or have been a director, shareholder, secretary, promoter, public officer, controller, or otherwise significantly involved or associated;

3. Any partnership in which I am or have been a partner;

4. Any trust in which I am a beneficiary, appointee, trustee, or a director, shareholder, or controller of the trustee;

5. Any superannuation fund in which I am a member, trustee, or a director, shareholder, or controller of the trustee; and

6. Any other person or entity with whom I have, or may have, a personal, financial, or professional connection or association.

 

I understand that when calculating the Refund due to me, GODSPEED will consider the service fees as set by GODSPEED at the appropriate time the Refund is being calculated. I guarantee and indemnify GODSPEED or any associated entity for the payment of all fees (accounting fees, managing tax affairs, advice provided, disbursements paid) & loans incurred by the following persons and entities, etc. (Office Use Only)

​

I warrant that I have authority to assign the monies assigned and that I have authority to give the above undertakings and authorities about the payment of your fees.

​

I understand that GODSPEED will provide for the remittance of the Refund due to me, as soon as is practicable after the relevant Moneys Assigned has been obtained by GODSPEED. This assignment and authority shall remain in force in respect of future years until all outstanding fees have been paid.

​

Client substantiation declaration

I / We confirm that I have been advised by GODSPEED ACCOUNTANTS PTY LTD AND ANY ASSOCIATED PERSONS AND/OR ENTITIES as to the requirement to demonstrate that an expense has been incurred for deductible purposes, together with satisfying the SUBSTANTIATION legislation about:

 

• work, car and business travel expenses; and

• employment-related expenses.

​

In addition, I have been informed by you of the need to OBTAIN ORIGINAL RECEIPTS which must be kept for a minimum of 5 (five) years from the date of lodgment of my income tax return. The receipt must carry the following details:

​

• Name of Supplier.

• Amount of Expense.

• Nature of Goods and Services (noting the specific type of items purchased or expenditure incurred which I can personally record up to the date of lodgment of my return, where not adequately pointed out by the supplier) ;

• Date of Expense (which I am able to record where not pointed out by the supplier personally); and

• Date of the Documents.

• The Receipt is to be recorded in the English Language.

 

Income from all sources in and out of Australia for the year of income

You have advised me that I cannot claim an amount which is not allowable for income tax purposes and that I must declare income from all sources, in and out of Australia, including Net Capital Gains received for the year of income in my income tax return.

Apportionment of Expenses

Where items are used for both business and private purposes eg car, mobile telephone, home telephone, computer etc, I advise that I have kept appropriate apportionment documents to verify my business usage claim and that my employer will verify that it was necessary to incur such expenditure in earning my income. Further, I have instructed you to prepare the return based on my specific instructions on the understanding I will be able to produce such information to the satisfaction of the ATO in an audit situation.

 

Audit matters​​

I further confirm that I am also aware:

​

• of the procedures to follow if a document is lost or destroyed.

• that I may be required to verify any income or expense item noted in my return in an audit situation; and

• of the Substantiation schedule I should complete for all work, car and travel expense claims under self-assessment.

​

I confirm that I have been advised that to obtain an input tax credit, all the following conditions must be satisfied:

​

• The business entity is carrying on an enterprise.

• The business entity acquires the thing in carrying on that enterprise.

• The supply of the thing to the business entity is taxable (i.e. it is a taxable supply of the person supplying it to the entity);

• The business entity pays consideration for the supply.

• The business entity is registered or required to be registered for GST purposes.

• The acquisition is not of a private or domestic nature.

• The acquisition does not relate to making supplies that will be input taxed; and

• The business entity has a tax invoice for the acquisition.

 

If all the above conditions are not fully satisfied, a partial credit may be allowed, for example, where the thing is acquired partly for a private purpose and partly for a business purpose.

 

Post 1 July 2000 tax invoices for supplies above $1,000.00

 

I confirm that I have been advised that invoices issued for a supply that exceeds $1,000 must include the following information:

• Issuers’ Australian Business Number ("ABN");

• GST inclusive price of supply.

• The words "tax invoice" appear on the document.

• The date of issue of the tax invoice.

• The name, or trading name, of the supplier.

• The name of the recipient; *

• The address or ABN of the recipient; *

• A brief description of the thing supplied, and

• The quantity or volume of what was supplied; *

(* Where the supplies are less than $1,000 then these elements are not required).

 

Penalties for incorrect income tax returns​

I have also been advised by you of the additional tax, penalty charge, interest component liability which can be imposed and possible prosecution action which can be initiated by the Australian Taxation Office if I lodge an incorrect income tax return or any other documents that are required to be lodged by the Australian Taxation Office.

General

I acknowledge that I have read and understood the income tax return prepared for me. I declare that:

1. I have disclosed and declared all the income, including net capital gains which I have earned/received for each financial year that you have prepared.

2. All the claims for deductions and rebates which have been included in the income tax return are based on my specific instructions and advice to you that I satisfy the relevant taxation requirements relating to income, expenses and rebates.

3. That, if in any case, I did not have the receipts to substantiate the above claims at the meeting which I confirm to be in existence prior to lodgment of this return, I will make them available if required by the Tax Office; and

4. That you have explained to me what written evidence including car/travel records will be required during an audit as well as the penalties, (including prosecution) that may be incurred if incorrect claims are identified in an audit situation.

 

I confirm that:

1. You have advised me to check my tax return before lodgment.

2. I have in fact checked the tax return as advised.

3. All the information in the tax return is true and correct.

4. All the information in the tax return is by my instructions.

5. I have not instructed you to audit, and you have not conducted an audit of my books and records or any substantiation documentation.

6. I am responsible for the correctness of the tax return.

​

Termination

Either party may terminate this engagement by giving 14 days’ written notice. You remain liable for fees and disbursements incurred up to the date of termination, and our lien rights may apply if amounts remain unpaid.

Authorisation

​

I hereby authorise GODSPEED ACCOUNTANTS PTY LTD AND ANY ASSOCIATED PERSONS AND/OR ENTITIES

to electronically transmit my income tax return or application for amendment thereof if necessary.

​

I also authorise GODSPEED ACCOUNTANTS PTY LTD AND ANY ASSOCIATED PERSONS AND/OR ENTITIES to

have ATO send digitally enabled communications for the above to our new secure inbox.