Standard Terms and Conditions

Power Tynan

Professional Standards in Relation to Taxation Services

As required by Accounting Professional and Ethical Standard APES 220 – Taxation Services we make the following statement regarding taxation services:

The responsibility for the accuracy and completeness of the particulars and information provided by you rests with you
Any advice given to you in the course of the above services is only an opinion based on our knowledge of your particular circumstances; and
As a taxpayer, you have obligations under self-assessment to keep full and proper records in order to facilitate the preparation of accurate returns.

Conflict of Interest

Prior to entering into the engagement and during the engagement we will attempt to ensure there is no conflict of interest.

You must immediately advise us if, during the engagement, you become aware of any conflict of interest or potential conflict of interest or there is a change of circumstances which may result in a conflict.

If a conflict of interest does arise during the engagement, we will take appropriate steps to resolve the conflict as agreed by all parties involved and permitted by law.

Audit

The procedures used by Power Tynan rely on the firm’s accounting expertise to collect, classify and summarise the financial information, which is provided to the firm, into a Special Purpose Financial Report. Please note that this Report does not include an audit, a review of internal controls, or a review of your accounting system. It may not disclose fraud defalcations or other irregularities that may occur, and we advise that our usual compilation report will be attached to the completed documents. However, we will bring to your attention any items noted in the course of our work.

Information Provided

Please be aware that the completeness and accuracy of the information you provide to us for this assignment remains your responsibility. This includes responsibility for the maintenance of adequate accounting records, an adequate internal control structure, the selection and application of appropriate accounting policies, and the safeguarding of the assets of the entities listed above.

The report/s will be prepared in accordance with the relevant accounting standards and ethical requirements of CPA Australia. Any known departures from this financial reporting framework will be disclosed within the financial report/s, and when considered necessary, will be mentioned in the compilation report/s.

Substantiation

Under the self-assessment provisions in the Income Tax Assessment Act 1936 and Income Tax Assessment Act 1997, the onus is on clients to maintain and keep adequate documentation to support all income tax returns with particular emphasis made in relation to deductions claimed and transactions made within their group of entities.

Specific Declaration/s for each type of entity will be provided with all income tax return/s confirming that the signatories to the return/s have all of the necessary receipts and or other records to substantiate all claims for deductions made within the Income Tax Return/s. These declarations also detail the legal retention requirements of supporting documents.

Timing of Work and Lodgement Deadline

Your due date for lodgement/s will be provided to you in due course and with sufficient time to meet your personal deadline/s. Whilst every effort will be made to lodge your return/s by the due date, we cannot guarantee this will be the case. To ensure that your returns are prepared in time to meet deadlines and avoid penalties, please ensure that you provide us with all of the information required for the completion of your returns to this office at least three (3) months prior to the lodgement date.

Ownership of Documents

All original documents obtained from you in respect to this engagement shall remain your property; however, we reserve the right to make copies of the original documents for our records.

All other documentation produced by us in respect of the engagement will remain the property of the firm.

In the event of a dispute, the firm has a policy of exploring a legal right of lien over any client documents in our possession.

Generally at the conclusion of each tax assignment, we will retain your taxation file for a period of 5 years after the end of the relevant tax year. At the expiration of the five year period, your taxation files may be destroyed unless we are notified by you in writing to the contrary.

Your Responsibilities

You are responsible for the accuracy and completeness of the details and information you provide to us and the disclosure of all material and relevant information. This includes informing us of any change in your circumstances and advising us of any subsequent event which may affect the accuracy and completeness of the information provided.

We may ask questions of you regarding the information provided. You are responsible for providing accurate and complete responses to our questions within a reasonable time. This should not be taken as meaning that we will verify the accuracy and completeness of the information provided.

The taxation law provides you with “safe harbours” from penalties for incorrect or late tax returns if you provide “all relevant taxation information” to us in a timely manner. Failure to discharge the responsibilities described above may mean that you are not eligible for that “safe harbour” protection.

You are responsible for maintaining compliance with relevant Employment Legislation at all times. Power Tynan is not responsible for checking or auditing compliance with any Employment Legislation. For advice on such matters, appropriate legal advice should be sought.

Our Responsibilities

Information acquired by us in the course of this engagement is subject to strict confidentiality requirements and we will not disclose that information to other parties except as required or allowed by law, or with your written consent. Your data is of the utmost importance to us, for more information on the measures we take to ensure it is kept safe and secure visit our website via this link.

We will advise you of your rights, obligations and options available to you under taxation laws. We may also provide you with advice on the application of taxation laws, including any possible penalties and other consequences to enable you to make an informed decision of the course of action that may be taken.

Taxation laws change frequently. All advice will be based on the current law at the time the advice is provided. It is your responsibility to obtain updated advice in relation to actual or proposed transactions entered into at a later time.

We will act in your best interests at all times, subject to the overriding requirement that we must comply with the law. For example, we would be unable to lodge a tax return for you that we knew contained a false or misleading statement.

Our firm’s quality control procedures have been established and maintained in accordance with APES 320 – Quality Control for Firms and, as a result, our files may be subject to review by the CPA Australia and Walker Wayland Australasia quality control review program. By accepting our offer, you acknowledge that, if requested, our files relating to this engagement will be made available under this program. We will advise you if this occurs.

We will comply with the professional and ethical standards of the Accounting Professional and Ethical Standards Board, available via this link. 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.

FocusHR Partnership

Focus HR is only able to provide support in their areas of expertise. Please note in particular that Focus HR is not able to provide legal, taxation or financial advice as they are not qualified in those areas. Matters that require such advice will be referred to a suitable service provider at the client’s instruction.

The client further acknowledges and agrees that Focus HR is not responsible for or in any way liable for any loss, expense, damage or delay arising out of or in any way connected with the engagement of an additional specialist, including (but not limited to) the actions of and any advice provided by an additional specialist and the client hereby indemnifies Focus HR for any such loss, expense, damage or delay.

Any wage compliance information should be taken to apply at the date that is it provided and applying legislative information extracted at that point in time. It is important to understand that as legislation changes from time-to-time, the information provided will be superseded and consequently may become inaccurate.

Any wage compliance information provided is based on the information provided by the client (or their representative). As such, it is important that the information provided is accurate and complete.

Please note: An employee, or former employee, has up to 6 years to make a wages claim relating to underpayments, therefore taking the time to provide all information to allow a full analysis is important in ensuring compliance and reduce the risk of potential claims.

Focus HR is not responsible for or in any way liable for any loss, expense, or damage arising out of or in any way connected with actions taken by the client based on wage compliance information provided by Focus HR.

Register of Tax Agents and BAS Agents available for you to search

The Tax Practitioners Board (TPB) maintains a register with details of registered, suspended and deregistered tax and BAS agents. This register is available to the public to search. TPB Register

We are obliged to advise clients of certain events which may influence your decision to engage us as your tax/BAS agent.

We are also obliged to advise you whether there are any conditions attached to our registration.

Your rights under Taxation Laws

This includes laws applicable under Tax Agent Services Act and the Tax Agent Services (Code of Professional Conduct) Determination. Please refer to the fact sheet published by the Tax Practitioners Board (TPB) summarising your obligations to the ATO and your tax practitioner, and your tax practitioner’s obligations to you, the TPB and ATO.

Information for Clients Factsheet

Dated: 5 March 2025