Individual Tax Returns

This is to confirm our understanding of the terms and objectives of our engagement and the nature and limitations of the services we will provide.

Purpose, Scope and Output of the Engagement
Mizael Partners Pty Ltd will provide professional services at the request of the Client. The details of the services provided in this agreement are detailed below:

Scope
Mizael Partners will provide customised Individual Tax Return services for the Client, as per the information provided in the submission of the Mizael Partners ‘Individual Tax Return’ enquiry form https://mizaelpartners.com.au/individual-tax-returns/

Other fees and charges
Professional fees for ad hoc advice, assignments and any other jobs which is not included in this engagement letter are charged on hourly basis.
The following hourly rates are GST exclusive and subject to annual review:
Hourly rate
Director $600
Manager $280
Senior Accountant $180
Accountant $120
Bookkeeper $80

The purpose of our services is to ensure that you meet all of your tax obligations in an accurate and ethical manner and receive professional up-to-date tax advice and assistance. The procedures we will perform will be limited exclusively to those related to this purpose. In order to perform these services, we have identified relative responsibilities. If the contents are not in accordance with your understanding, we would be pleased to receive your comments and to give you any further information you may require.

Authority to Act
By signing this engagement letter, the Client authorises Mizael Partners and their staff to access relevant tax information and act on his/her behalf for all tax types until further notice, for preparing tax returns and related services. Note: If the Client currently has a tax agent, they will be de-linked from them, and Mizael Partners will become the new tax agent. The Client authorises Mizael Partners to obtain information from the Australian Taxation Office (ATO) and other financial institutions, including via phone and online services, to complete his/her financial accounts/tax returns. Additionally, the Client appoints Mizael Partners as his/her registered ASIC agent, allowing them to receive correspondence and details from ASIC, including invoices, annual reviews, corporate keys, and other communications until further notice.

 
Terms and Conditions
If the Client's account exceeds our trading terms and is passed over for collection, the Client is liable for all expenses (including expenses such as debt collection commission) and legal costs (on a full indemnity basis) incurred or to be incurred for enforcement of obligations and recovery of monies due for payment to Mizael Partners Pty Ltd.

Period of Engagement
This engagement starts upon submission of the Mizael Partners ‘Individual Tax Return’ enquiry form and is valid until completion of the Individual Tax Return service for the Client.

Why do we offer a fixed price agreement for ongoing services?
The standard method of billing in professional services has traditionally had an emphasis on providing services in exchange for an hourly rate. Mizael Partners Pty Ltd has come to the realisation that this method is an archaic method of pricing. It is also a conflict of interest because what it means is (as an industry) we are directly rewarded for how inefficient we are. The longer we take to do the job the more we get. Hourly billing does not promote an emphasis on customer service or an incentive to complete jobs quickly.
The biggest issue with hourly billing you have no idea how much the job will be until the bill is received. We don't think that is fair on you. As a courtesy to you, we think you deserve to know in advance how much the job will cost and what it entails. As a modern and progressive firm we have moved all of our engagements to a fixed price agreement model. What does this mean for you?
• You will always know how much you will pay for services in advance, and will always have the opportunity to discuss the agreement before we get started on any work. If new work is required outside of the scope of our existing agreement we will issue a written proposal for you to accept (or discuss) before we commence new services.
• It places the risk back on us, the practice. You don't have to worry about paying for more hours than you thought it would take. We have to focus on being more efficient to ensure our relationship is mutually profitable. This means we can leverage the best in breed technology to constantly improve the quality of the services we deliver to you.
• It opens the lines of communication. You don't have to be afraid to contact us with questions and be worried about receiving a bill for your time. All of our fixed price agreements include support and regularly scheduled review sessions. In fact, we encourage constant communication between our clients and Mizael Partners Pty Ltd. Becoming your trusted advisor is our mission and open communication is the key.

Hourly Billing for Services with an Undefined Scope
While Mizael Partners Pty Ltd will try to always provide a fixed price agreement, particularly in the instance where services are ongoing, there are some services that we offer where an estimate based on an hourly rate is the only method of billing that applies. We'll quote an hourly rate in cases of project work where it is difficult to define the scope of the service required. In the case where you have been quoted an estimate based on an hourly rate, Mizael Partners Pty Ltd will inform the Client of the amount of time used before we issue the final bill and collect payment.
If possible, Mizael Partners Pty Ltd will convert any hourly services into a fixed price agreement, if or when, the scope of the service becomes more apparent.
Unanticipated Services
While your fixed price agreement entitles you to unlimited communication, if your question or issue requires additional research and analysis beyond the services agreed in this contract, any additional work will be quoted to you before the commencement of said additional work. Once the scope of the additional work is agreed upon, we will issue a Change of Service Request via our online proposal system, and will ask you to sign the new agreement before we commence the new work.
Furthermore, the Client will agree that if an unanticipated need arises (such as an audit, an amended tax return or a personal financial statement required as part of a loan agreement), this additional work will be performed only after arriving at a mutually agreed-upon price and a Change of Service Request is accepted with a digital signature.
Service and Price Guarantee
Mizael Partners Pty Ltd will always stand behind the quality and professional nature of the services that we offer. If at any point you are not completely satisfied with the services we have performed, we encourage you to bring this to our attention immediately. We'd love the opportunity to correctly address your concerns and allow us a chance to win your trust back and prevent similar problems from happening in the future.
If you are still not satisfied with the outcome of our services, we will work towards a mutual agreement regarding the payment for services completed. As an example, we may agree to either forgive the related payment or accept a portion of the originally agreed price that reflects your level of satisfaction.

Responsibility for Accounting and Internal Control Systems
The responsibility for the maintenance of a business accounting system and internal control systems, including protection against and prevention of fraud, rest with the Client. You will also be responsible for the maintenance of books of account. This includes any work produced by a third party not engaged by us that is to be relied upon. If any material weakness in the accounting systems or internal control systems comes to our notice, you will be advised accordingly.
It is important to remember you are personally responsible for the information contained in any statutory return and that you must retain all necessary supporting documentation to substantiate transactions.

Quality Review
As a member of the Institute of Chartered Accountants in Australia and New Zealand, we are subject to periodic Professional Practice Quality Assurance reviews. Unless otherwise advised, you are consenting to your files being part of such a quality review. This review is of our client records and not of you as a client and you have full assurances that complete confidentiality will be maintained throughout.

Privacy Statement
We are bound by the provisions of the Privacy Act to maintain all your records securely and in accordance with the provisions of that Act. Any breach of these requirements should be notified to the Privacy Commissioner. As noted above under "Quality Review", your file, unless you specifically forbid it, may be subject to a Quality Review. As Tax Agents we are subject to the code of professional conduct established by the Tax Agent Services Act 2009 (TASA), this code requires that, unless legally required to, we cannot disclose information to a third party without your permission.

Client's disclosure and record keeping obligations
You are required by law to keep full and accurate records relating of your tax affairs. It is your obligation to provide us with all information that would be reasonably expected will be necessary to allow us to perform work contemplated under the engagement within a timely manner or as requested. This includes providing accurate and complete responses to questions asked of client by the practitioner. Inaccurate, incomplete or late information could have a material effect on services and/or conclusions.
We need not verify the underlying accuracy or completeness of information from you if it appears reasonable. However, if we believe information is missing, incorrect or misleading, we will need to seek further assurance from you.
The Taxation Administration Act 1953 now contains specific provisions that may provide you with "safe harbour" from administrative penalties for incorrect or late lodgement of returns. These safe harbour provisions will only be available to you if, amongst other things, you provide "all relevant taxation information" to us in a timely manner (the safe harbour provisions apply from 1 March 2010). Accordingly, it is to your advantage that all relevant information is disclosed to us, as any failure by you to provide this information may affect your ability to rely on the "safe harbour" provisions and will be taken into account in determining the extent to which tax practitioners have discharged their obligations to clients. It is your responsibility to show that you have brought all matters to our attention if you want to take advantage of the safe harbours created under new regime.

Tax Practitioners obligation to comply with the law
We have a duty to act in our Client's best interests. However, the duty to act in our Client's 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 directions. For example, we could not lodge an income tax return that we believe to be false in a material respect.

Know your customer
We may be required to verify your identity for the purposes of the anti-money laundering laws. We may request from you such information as we require for these purposes and make searches of appropriate databases.

Your responsibilities
You must provide us with all information necessary for dealing with your affairs including information which we reasonably request, in sufficient time to enable our services to be completed before any applicable deadline. We will rely on such information being true, correct and complete and will not audit the information (except to the extent we are specifically engaged to provide audit-related services).
You authorise us to approach such third parties as may be appropriate for information that we consider necessary to deal with your affairs.
You must keep us informed on a timely basis of changes in your circumstances that may affect our services.
We expect you (to the best of your capabilities) to present your information to us in a complete, summarised, comprehendible and accurate format on a timely basis.
Our engagement cannot be relied upon to disclose irregularities including fraud, other illegal acts and errors that may exist. In discovering what may first appear to be such, we will cease work and approach you in the first instance to address our concerns.

Qualifications on our services
To the extent our services involve the performance of services established by law, nothing in the engagement letter or these terms reduce our obligations under such law.
You must not act on advice given by us on an earlier occasion without first confirming with us that the advice is still valid.
Our services are limited exclusively to those you have engaged us to perform. Unless otherwise specified in the engagement letter, our services cannot be relied upon to disclose irregularities and errors, including fraud and other illegal acts, in your affairs.
Where our engagement is recurring, we may amend our engagement letter and these terms where we consider it is necessary or appropriate to do so. If you do not accept such amendments, you must notify us promptly in which case you may terminate our engagement in accordance with paragraphs below and those amendments will not apply prior to such termination.

Reliance on advice
We will endeavour to record all advice on important matters in writing. Advice given verbally is not intended to be relied upon unless confirmed in writing. If we provide verbal advice (for example during a meeting or telephone conversation) that you wish to rely on, you must ask us to confirm the advice in writing.

Investment and financial advisory advice
We will not provide you with investment or financial advice regulated under the Corporations Act 2001 (Cth) unless we have expressly agreed to do so in writing, specifying an applicable Australian Financial Services Licence number.

Professional obligations
We will comply with the professional and ethical standards of the Accounting Professional and Ethical Standards Board, available at apesb.org.au. This includes APES 110 Code of Ethics for Professional Accountants (including Independence Standards), which among other things contains provisions that apply if we become aware of any actual or potential 'non-compliance with governing laws or regulations' (NOCLAR). Where any such non-compliance poses substantial harm (such as serious adverse consequences to investors, creditors, employees, auditor, group auditor or the public), we may be required to disclose the matter to an appropriate authority.

Conflicts of interest
We will inform you if we become aware of any conflict of interest in our relationship with you (including between the various persons this engagement letter covers) or in our relationship with you and another client. Where conflicts are identified which cannot be managed in a way that protects your interests, then we will be unable to provide further services to some or all of the persons to whom this engagement applies. If this arises, we will inform you promptly.
We may act for other clients whose interests are not the same as or are adverse to yours, subject to the obligations of conflicts of interest and confidentiality referred to above.

Confidentiality
We will take all reasonable steps to keep your information confidential, except where:
• we need to disclose your information to our service providers (including auditors of client monies if applicable) or regulatory bodies in performing the services, our professional advisers or insurers or as part of an external peer review from time to time. Our files may also be subject to review as part of the quality review program of Chartered Accountants Australia and New Zealand. By accepting this engagement, you acknowledge that, if requested, our files relating to this engagement will be made available under this program. We will take reasonable steps to ensure any such recipient (other than a regulatory body) keeps such information confidential on the same basis;
• we are required by law, regulation, a court of competent authority, or those professional obligations referred above, to disclose the information; or
• you give us permission to disclose the information.
We may retain your information during and after our engagement to comply with our legal requirements or as part of our regular IT back-up and archiving practices. We will continue to hold such information confidentially.
We may mention that you are a client for promotional purposes.

Privacy
You must make all necessary notifications and obtain any necessary consents for us to process personal information you provide to us. We collect and use that personal information for the purposes of providing the services described in the engagement letter to you and we will comply with the Privacy Act 1988 (Cth) when processing that personal information. Our privacy policy provides further details of our privacy practices.
Ownership of materials
We own the copyright and all other intellectual property rights in everything we create in connection with this engagement. Unless we agree otherwise, anything we create in connection with this agreement may be used by you only for the purpose for which you have engaged us.
All working papers prepared by us (in any form whatsoever, including physical and electronic) remain our property. We will retain these papers in accordance with our normal record keeping practices in accordance with our professional and legal obligations.
You agree we can use your logos and trademarks for the sole purpose of providing advice to you in connection with the engagement, unless you tell us otherwise.

Limitation of liability
Our liability is limited by a scheme approved under Professional Standards Legislation.
You agree not to bring any claim against any of our principals, partners, directors, shareholders, or employees in their personal capacity.
To the maximum extent permitted by law, we are not liable to you for:
• indirect, special or consequential losses or damages of any kind; or
• liability arising due to the acts or omissions of any other person or circumstances outside our reasonable control, or your breach of these terms.

Termination
Each of us may terminate this agreement by giving not less than 60 days' notice in writing to the other party except where a conflict of interest has arisen, you fail to cooperate with us, or we have reason to believe that you have provided us or any other person with misleading or factually inaccurate information, in which case we may terminate this agreement immediately. Termination will not affect any accrued rights.

Limitation of third-party rights
Our advice and information is for your sole use, and we accept no responsibility to any third party, unless we have expressly agreed in the engagement letter that a specified third party may rely on our work.

Communication
You must advise of any changes to your contact details. We may send any communications to the last contact details you have provided. Unless you instruct us otherwise we may, where appropriate, communicate with you and with third parties via email or by other electronic means. The recipient is responsible for virus checking emails and any attachments. There is a risk of non-receipt, delayed receipt, inadvertent misdirection or interception by third parties in any form of communication, whether electronic, postal or otherwise. We are not responsible for any such matters beyond our control.

Applicable Law
Our engagement is governed by Victorian law. The courts sitting in Victoria will have non-exclusive jurisdiction in relation to any dispute between us.

Interpretation
If any provision of the engagement letter or these terms is void, that provision will be severed and the remainder will continue to apply. If there is any conflict between the engagement letter and these terms, these terms prevail.
Disputes and complaints
If you have any concerns about our costs or services, please speak to the person responsible for this engagement, who is identified in our engagement letter. To resolve your concerns, we have policies and procedures in place to deal appropriately with complaints and will use best endeavours to resolve a complaint or dispute to the mutual satisfaction of the parties involved. We may require you to detail your complaint in writing to allow us to fully investigate any concerns that you raise.

 
Outsourcing
We may utilise the services of our contractors in Manila, Colombo and Sydney and other third parties from time to time. To perform the services, we provide these third parties with access to your data to the extent this is required to perform the services.
This requires information being sent overseas in accordance with our Privacy Policy. Electronic devices of all of our team members and our contractors are protected with highest security system provided by our practice protection supplier.

Confirmation of Terms
Please review this letter to ensure that it is in accordance with your understanding of the arrangements. By submitting the ‘Individual Tax Return’ enquiry form, you are accepting the terms of the letter of engagement. This letter will be effective for future years unless we advise you of any change.

Acknowledgment of Terms of Engagement
By submitting the ‘Individual Tax Return’ enquiry form, I hereby agree to the terms of engagement of Mizael Partners as set out above in this letter of engagement.

I confirm that I understand and agree to the terms of engagement.