Individual Registration

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TERMS OF ENGAGEMENT

Confirming our discussions, we are pleased to accept appointment as your Tax Agent. We will act in your best interest at all times and provide the highest level of professional service. This document sets out the terms of the engagement. Any additional work will be by the written agreement of both parties. We will commence your work subject to signing and accepting of this agreement and returning it to us via post, email at kaleem@thekalculators.com.au

• The scope of work is as agreed. You are responsible for compliance with the substantial provisions of the Income Tax assessment Act. You are responsible for the timely provision of information and we will not be responsible for any late lodgment or other fees brought about by your failure to act in a timely manner

• We will analyse, discuss, and make recommendations regarding your tax return, prepare, and electronically lodge your tax return for the year as above.

• Please note that any refund is an estimate only and we are not responsible and do not accept liability if the Australian Taxation Office determines an outcome which is different than that lodged.

• We have the duty to act in our client’s best interests, however, the duty 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 discretions. For example, we could not lodge a tax return that we believe to be false in a material respect.

• Interest on overdue amounts charged at a rate of 2.0% per calendar month or part thereof, and the Customer shall be liable for, and expressly undertakes to pay, all such interest.

• Should the Supplier incur legal and/or any other expenses, including any such expenses to any collection agency, in obtaining, or attempting to obtain, payment for any amount due by the customer, the customer shall be liable for all such expenses (on a full indemnity basis). The Customer acknowledges that the collection expenses may be calculated on a commission basis at a percentage rate of up to 25% of the amount due and expressly agrees to pay those expenses irrespective of the amount of work performed by the collection agency.

• As members of an accounting body and we are subject to periodic Professional Quality Assurance. Reviews. Unless otherwise advised, you are consenting to your file being part of such a 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. Under some componential requirements we can do outsourcing form overseas or locally. We also adhere to strict privacy policies.

• The Kalculators assures that your information will be kept private according to our Privacy Policy.

• The standard professional fees are (subject to notification of change) $50 per hour for secretarial, $100 per hour for accountant and $250 per hour with principle (prorata). Terms of payment are as per invoice provided.

CLIENT SUBSTANTIATION DECLARATION

I, confirm that I have been advised by The Kalculators as to the requirement to demonstrate that an expense has been incurred for deductible purposes, together with satisfying the SUBSTANTIATION legislation in relation to expenses mentioned in your tax return. In addition, I have been informed by you of the need to OBTAIN ORIGINAL RECEIPTS, detailing the;

• Name of supplier                                                   • Date expense was incurred

• Type of goods / service purchased • Amount expressed in the currency it was incurred

I have also been advised by you of the need to keep the written evidence for at last 5 years and the consequences and penalties which will arise if the information I have provided is incomplete or incorrect.

I have all the income tax and SUBSTANTIATION DOCUMENTS necessary to support all the claims made in my income tax return.

I DECLARE

1. I have disclosed to you all the income which I have earned.

2. That all the income has been declared in the return.

3. That all the claims for deductions and rebates which have been included in the return are based on my specific instructions.

4. That while I did not have the receipts to substantiate the above claims at the meeting, I will be instructed you to prepare the return based on my specific instructions.

5. That you have clarified what written evidence will be required during an audit and penalties that may be applicable if incorrect claims are identified.