Privacy Policy
Our collection use and disclosure of our client’s personal information may be subject to the Privacy Act 1988 (Cwth) and accordingly we will only collect personal information about our clients that relate to our engagement terms. We may disclose personal information about our clients with their express consent unless required by law.
If we are required by law to provide any personal information about our clients, they agree to work with us to ensure that all obligations are met.
Confidentiality
We have an ethical duty of confidentiality, which means we must not share or disclose any client details with anyone without express consent by our clients, unless required by law.
Financial Planning
We work in partnership with Surfcoast Financial Group who are registered financial planners. They handle all our client’s superannuation and financial planning advice that fall under the financial planning licence structure.
Purpose, Scope and Output of a Geelong Accounting Engagement
We will provide as required:
which will be conducted in accordance with the relevant professional and ethical standards issued by the Accounting Professional & Ethical Standards Board Limited (APESB), and with Corporations Law in Australia.
The standards relevant to the above include but are not limited to:
The extent of our procedures and services will be limited exclusively for this purpose only. As a result, no audit or review will be performed and, accordingly, no assurance will be expressed. Our engagement cannot be relied upon to disclose irregularities including fraud, other illegal acts and errors that may exist. However, we will inform our clients of any such matters that come to our attention.
Financial Statements and Income tax returns will be prepared for distribution to our clients for the agreed purpose. There is no assumption of responsibility for any reliance on our report by any person or entity other than our clients and those parties indicated in the reports. The report shall not be inferred or used for any purpose other than for which it was specifically prepared. Accordingly, our report may include a disclaimer to this effect.
Our Obligations
We adhere to strict confidentiality requirements. Information acquired during this engagement will not be disclosed except as required by law or with your express consent.
Our quality control system complies with APESB standards and may be subject to review by governing bodies. By accepting this engagement, you acknowledge that relevant files may be made available for compliance review.
We are obligated under the TASA Act 2009 to act lawfully in the client’s best interests, to act honestly and with integrity, and to manage any conflicts of interests. Geelong Accounting will report non-compliance where required under all legislation. If repeated efforts to ensure compliance fail, we may disengage from providing services.
We are not responsible for late lodgements or payments for any related entities, including ASIC, Centrelink, Land Tax, or Payroll Tax. Employers must ensure compliance with Fair Work Act obligations, including wages and workplace conditions. We are not liable for employment law breaches.
Your Responsibilities
You are responsible for the accuracy and completeness of information provided and for maintaining appropriate records. Any advice provided is based on your specific circumstances and should not be relied upon without verification.
Taxpayers are responsible for maintaining records to support their tax returns. The ATO may review returns within five years of assessment, or indefinitely in cases of fraud or evasion. You are responsible for reviewing and confirming the accuracy of your tax returns.
Legal Obligations and Right to Terminate Engagement
We are legally obligated to take reasonable care in all aspects of our work, including the preparation of letters, reports, data security, and confidentiality. Our duty extends to ensuring compliance with taxation laws and maintaining professional integrity in all services provided. We will comply with all laws and regulations as legally required.
If we determine that a taxpayer is unwilling to comply with tax obligations despite repeated advice and guidance, we reserve the right to terminate this engagement immediately. Non-compliance includes, but is not limited to, failure to provide accurate financial information, deliberate tax evasion, or refusal to meet statutory requirements. In such cases, we will notify you in writing and provide relevant documentation supporting our decision.
Dispute Resolution
We are committed to working collaboratively with our clients to resolve any concerns or disputes that may arise. If you have a complaint, we encourage you to contact us directly so we can address the issue promptly and fairly.
In accordance with the TASA 2009 and the TPB’s Code of Professional Conduct, if your concerns are not resolved to your satisfaction, you have the right to lodge a complaint with the Tax Practitioners Board (TPB). The TPB investigates complaints about registered tax practitioners, including issues related to conduct, competence, and ethical behaviour.
Complaints to the TPB must be submitted in writing via their online complaints form, and should include:
We value transparency and accountability and will cooperate fully with any TPB investigation.
Client Monies
If we take our fees from our client’s refunds, we will calculate our bills and provide our clients with a copy of the invoice at the time of the tax return processing. Our clients are required to complete a fee from refund form at the time of returning the signed tax return documents along with their current bank details. When we receive our clients refunds into our trust account we will, as soon as practical, direct debit their refund minus our fees into their nominated account.
Information Storage & Transmission
Our engagement will result in our client’s data being transmitted via the internet in the normal course of our business. This is via government transmission services, email and other methods as we see fit. We utilize cloud programs and storage when available and will use all due care and caution in doing so. We will ensure all reasonable care is used in protecting your data with credible protection software. You authorise us to dispose of all paper documents via a 3rd party document shredding service.
Limitation of Liability
Our liability is limited by a scheme approved under Professional Standards Legislation.
If you want more information on the Scheme you can go to: https://www.cpaaustralia.com.au/about-us/consumer-information or https://www.psc.gov.au/consumer-information
Authority to Lodge Business Activity Statements and Instalment Activity Statements
Our engagement will result in a requirement to lodge and amend BAS/IAS/TPAR and other ATO reports required “on time and without ATO interest and penalties”. Our clients give Geelong Accounting the authority to do this on an as needed or required basis and we will always advise our clients when this happens.
Ownership of Documents
All original documents obtained from the client arising from our engagement shall remain the property of the client. However, we reserve the right to make a reasonable number of copies of the original documents for our records. These will be stored in a secure online database.
Our engagement will result in the production of income tax returns, financial statements or other documents as requested by the client. Ownership of these documents will vest in our clients. All other documents produced by us in respect of this engagement will remain the property of the firm.
The firm has a policy of exploring a legal right of lien over any client documents in our possession in the event of a dispute. The firm has also established dispute resolution processes.
Payment Terms for Professional Services Rendered
Geelong Accounting retains the right to not lodge documents with the ATO or ASIC unless payment for our services has been made. Payment terms are strictly as advised on our invoice. We reserve the right to charge interest on accounts 30 days or over. Accounts over 90 days old will be lodged with our legal representatives for collection and payment. We expect our clients in difficulty to contact us for payment options prior to this action, otherwise they agree to pay all costs that are incurred in the collection of their payments.
Our engagement will result in the production of income tax returns, financial statements or other documents as requested by the client. Ownership of these documents will vest in our clients. All other documents produced by us in respect of this engagement will remain the property of the firm.
The firm has a policy of exploring a legal right of lien over any client documents in our possession in the event of a dispute. The firm has also established dispute resolution processes.