These are the terms of engagement (“Agreement” “Engagement”) between Greenway Group Pty Ltd (“Greenway Accountants + Consultants”, “Greenway Consulting”, “Greenway” “Us”, “We” “Our”) and You, Your Spouse, any companies you are a Director or Shareholder, any Trusts you are Trustee or Beneficiary, Any Superannuation funds you are Trustee or Member, or other entities you control or are associated with. (“You”, “Your”)

These Terms of our engagement apply to the services you have engaged us to provide and that we as your Accountants and Tax agents have agreed to provide.

You may accept this Agreement by doing one or more of the following:

  1. signing these terms of engagement or the engagement letter in which these terms were
    referred or attached; or
  2. continuing to instruct us after receiving this Agreement; or
  3. orally

On acceptance of this Agreement you agree to these terms outlined below:

We will be responsible for the following as engaged by you:

  1. Preparation of the annual and/or periodical financial statements, Business Activity Statements (G.S.T.) and income tax returns for the business and for the individuals;
  2. When requested by yourselves, advising or instructing staff on the maintenance of the accounting and internal control systems;
  3. The undertaking of special assignments for such matters as management consulting services, business acquisitions and other similar matters;
  4. Any other matters that may arise from time to time.

We confirm that an audit of the financial statements is not required unless instructed, and therefore we will not be expressing an opinion as to the truth and fairness of those statements.

Our involvement in this type of engagement will not disclose fraud, defalcations or other irregularities which may occur. However, any material weaknesses in the accounting or internal control systems which come to our notice will be drawn to your attention. You or your staff will be responsible for maintaining and regularly balancing all books of account, unless you direct us to complete them for you.

We will prepare your income tax returns from the documents and information provided by you. You will be responsible for the correctness of the tax returns and any other documents prepared on your behalf. Before you sign any documents we advise that you carefully read them to check their accuracy and correctness.

Our fees, which will be billed as work progresses, are based on the time required by the individuals assigned to the engagement plus direct out-of-pocket expenses and disbursements. Fees are charged for court appearances, conferences, consultation (by telephone or otherwise), reading, research, travelling, advice, the storage of your records, the use of our office as your registered office, preparation or any other work done. Please note if you have any concerns with our account you must notify our office within seven (7) days or we shall presume that you have no objection with any part of it. Our credit terms are fourteen (14) days. Interest is payable on any overdue fees at the rate determined from time to time by the Supreme Court of New South Wales on unpaid judgements.

We reserve the right to issue subsequent bills in the event of any errors or omissions in previous bills. Our current charge out rates and chargeable disbursements/ expenses are listed below. Disbursements include, but are not limited to, faxes, photocopying, couriers, valuers fees, barristers fees, solicitors fees, trustee in bankruptcy or otherwise, receivers, managers, administrators & liquidators fees, and any costs associated with travelling, such as airline tickets and accommodation, etc.

Our professional fees (excluding GST) are charged based on the following schedule:

Principal: $300 per hour
Associate: $150 per hour
Admin officer: $75 Per hour

Print Room Expenses:
Photocopying: $1.00 per page
Document Binding: $10.00 per document

Disbursements:
Telephone: Telstra Rates with service adjustment
Courier: Courier Rates with service adjustment
Postage: Australia Post Rates

These rates may be altered in future without prior notice. Your bill will be based on the time involved by each person engaged, the degree of skill and acumen required to complete the task, the degree of responsibility that the work entails and the level of training and experience of the persons engaged. For work which is unusually urgent or complex or demands unique skill, we reserve the right to charge higher rates. Any matter involving tax planning or specialist work will be charged at a higher rate or as a percentage of taxes saved. In the event that any rate, other than that specified above, being determined not to be capable of being applied then such other rate (not to be lower than the rates specified above) may be applied as is considered appropriate in all of the circumstances or a rate no lower than that specified above, whichever is the higher.

All costs for accounting and other services referred to in this agreement are exclusive of GST and represent the GST exclusive supply price. Apart from amounts we ask you to reimburse us as disbursements, if GST is payable in relation to any services we provide an amount of 10% will be added to the GST exclusive supply price attributable to any supply and is payable by you at the time our bill is given to you. We can also ask you to pay any GST which we may have to pay on reimbursement of disbursements in excess of any input tax credit which we are entitled to receive in respect of the disbursement. We will advise you of the amount you have to pay for GST on disbursements when we send you our bill. That amount is payable by you at the time our bill is given to you.

You authorise us under the Privacy Act to conduct reference checks with any person or organisation, including the Credit Reference Limited, as we deem necessary.

In relation to the income tax returns, we will advise you as to the requirements of the substantiation provisions of the legislation (where applicable) and of the necessity to maintain acceptable bona fide receipts and other documents such as travel diaries and log books as required. We advise that you must keep records for much longer periods in relation to capital gains tax.

If you are comprised of more than one person, eg a partnership, then each of you is jointly and severally responsible for all costs owing to us, irrespective of which of the partners / members instructed us to carry out the relevant work. For the purposes of this paragraph you warrant that you are duly authorised to execute these terms on behalf of the other parties that you represent, expressly or impliedly, in that regard.

The work in respect of which you will be responsible for our costs will include any work for any partnership of which you are a Partner and work for any company or co-operative of which you are a director or shareholder and you or any person nominated by you has instructed us to carry out work.

In consideration of Greenway Accountants + Consultants performing accounting, taxation and other work at your request for the following persons, companies, trusts, superannuation funds or other entities you unconditionally and irrevocably guarantee to Greenway Accountants + Consultants payment of all the past, present and future professional fees, disbursements and loans of the following persons, companies, trusts, superannuation funds or other entities:

This letter will be effective for future years unless we advise you of any change in our appointment. Should either party wish to terminate this agreement it must be terminated in writing. If you do so you will pay our charges and expenses incurred up to the time of termination. This does not diminish your rights.

In relation to any subsequent termination of our services, you are advised that we shall be entitled to retain ALL documents belonging to your business and any related parties we act for until payment IN FULL of ALL outstanding fees are received.

The final financial statements, tax returns and any other documents which we are specifically engaged to prepare, together with any original documents given to us by yourselves, shall be your property. Any other documents brought into existence by us including general journals, cashbooks, work papers, the general ledger, draft financial statements and tax returns, will remain OUR property at all times.