3.1: In conducting this engagement, information acquired by the Company in the course of the engagement is subject to strict confidentiality requirements. That information will not be disclosed by the Company to other parties except as required or allowed for by law, or with the Clients express consent.

3.2: We wish to draw the Clients 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 the Institute of Chartered Accountants which monitors compliance with professional standards by its members. We advise the Client 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 the Client.

3.3: The Client is responsible for the reliability, accuracy and completeness of the accounting records, particulars and information provided and disclosure of all material and relevant information. Clients are required to arrange for reasonable access by the Company to relevant individuals and documents, and shall be responsible for both the completeness and accuracy of the information supplied to the Company. Any advice given to the Client is only an opinion based on our knowledge of the Client’s particular circumstances.

3.4: 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 a taxpayer 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 law such a review may take place within a period of up to four (4) years after tax becomes due and payable under the assessment. Furthermore, where there is fraud or evasion there is no time limit on amending the assessment. Accordingly, the Client should check the return before it is signed to ensure that the information in the return is accurate.


3.5: Where the application of a taxation law to the Clients particular circumstances is uncertain the Client also have the right to request a private ruling which will set out the Commissioner’s opinion about the way a taxation law applies, or would apply, to the Client in those circumstances. The Client must provide a description of all of the facts (with supporting documentation) that are relevant to the Client scheme or circumstances in the Clients private ruling application. If there is any material difference between the facts set out in the ruling and what the Client actually does, the private ruling is ineffective.

3.6: If the Client relies on a private ruling the Client has received, the Commissioner must administer the law in the way set out in the ruling, unless it is found to be incorrect and applying the law correctly would lead to a better outcome for the Client. Where the Client disagrees with the decision in the private ruling, or the Commissioner fails to issue such a ruling, the Client can lodge an objection against the ruling if it relates to income tax or fringe benefits tax. The Clients time limits in lodging an objection will depend on whether the Client is issued an assessment for the matter (or period) covered by the private ruling.