Engagement Letter for General and Capital Gains Tax Advice
Thank you for engaging Siragusa Accounting Group Pty Ltd to provide general and capital gains tax advice. This letter outlines the terms of our engagement, the scope of services to be provided, and the limitations of our liability. Please review this letter carefully, as it establishes the terms of our relationship.
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Scope of Services
We will provide the following services:
1. General Tax Advice: Advising on your estimated tax obligations, including allowable deductions, inclusions of assessable income and outline planning strategies and considerations to optimise your tax position.
2. Capital Gains Tax Advice: Advising on the calculation and implications of capital gains tax, including:
o Analysis of applicable exemptions and concessions.
o Recommendations for tax planning related to asset sales or transfers.
The services provided are limited to advice only. We will not prepare or lodge any tax returns or other documentation unless separately agreed in writing.
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Client Responsibilities
To enable us to provide accurate and timely advice, you agree to:
1. Provide all relevant information, documentation, and details related to your financial position, transactions, and tax matters.
2. Ensure that all information supplied is accurate and complete to the best of your knowledge.
3. Seek additional independent advice for areas outside the agreed scope of this engagement.
Failure to provide complete and accurate information may impact the quality of the advice provided.
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Limitations of Liability
While we are committed to delivering professional services to a high standard, our liability is limited as follows:
1. Exclusion of Liability: We are not responsible for any loss, damage, or liability arising from:
• Decisions made by you based on our advice.
• Information provided by you that is incorrect, incomplete, or misleading.
2. Limitation of Liability: The liability of our firm is limited by a scheme approved under professional standards legislation. You can find out more details about this scheme through www.psc.gov.au
3. No Responsibility for Advice: While we endeavour to provide accurate and reliable advice, you acknowledge that our advice is based on the information provided by you and the applicable laws at the time. We are not responsible for the outcomes or consequences of implementing our advice, including but not limited to, changes in laws or regulations.
4. Third-Party Reliance: Our advice is provided for your sole use and benefit. It is not intended for use by third parties, and we accept no responsibility to any third party who may rely on the advice provided.
5. Non-Provision of Financial Advice: Siragusa Accounting Group is not licensed to provide financial product advice under the Corporations Act 2001.
You should consider obtaining advice from an authorised financial adviser before you decide on a financial product, including investment in real property, selling shares, rolling over superannuation and any effects it may have on personal insurances. We can provide you with a referral to a financial adviser who is licensed to provide such advice and whom we have a commissioned based referral arrangement with
6. This engagement does not cover any personal and or non taxable advice surrounding suitability of Private Health Insurance, HECS repayments and arrangements, lodgement & supply of any forms to third parties (eg super intent forms) and salary packaging advice
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Confidentiality
We will treat all information provided by you as confidential, except as required by law or professional obligations. We will not disclose your information to third parties without your prior written consent.
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Fees and Payment
Our fees for the services provided will be based on hourly rates below. Payment terms are within 7 days of invoice date.
Director $350 p/h Senior Accountant $200 p/h
Accountant $120 p/h Administration $80 p/h
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Termination of Engagement
Either party may terminate this engagement at any time by providing written notice. Upon termination, you agree to pay for all services rendered up to the date of termination.
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Acceptance of Terms
If you agree to the terms outlined in this letter, please sign and return one copy to us. Retain a copy for your records.
We look forward to assisting you with your tax matters. If you have any questions, please do not hesitate to contact us.
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Acknowledgment and Acceptance
I acknowledge and accept the terms of this engagement letter.
