TERMS OF ENGAGEMENT FOR PROFESSIONAL SERVICES

3. Assignment-based engagement and acceptance

Unless expressly stated otherwise, each engagement is limited to the named client, period, purpose and service. It does not automatically renew or include future returns, amendments, entities, ATO reviews, disputes, payment arrangements, foreign filings, monitoring or advice.

The engagement begins only after we accept the appointment, the client accepts the engagement documents, required identity and risk procedures are completed, conflicts are manageable, and agreed payment conditions are met. We may decline an appointment before acceptance without giving confidential risk details.

4. Scope and changes to scope

We will provide only the services expressly described in the client-specific schedule or accepted variation. We may identify matters outside scope and explain their significance, but identification does not amount to acceptance of the additional service.

If a material change in facts, record quality, complexity, law, deadlines or requested outputs affects scope or fees, we will ordinarily issue a written variation before substantive extra work. A variation should identify the additional work, assumptions, fee basis and revised timing.

5. Service boundaries and regulated advice

Unless expressly included and lawfully provided, we do not provide foreign-country tax advice, legal advice, migration advice, financial product advice, credit assistance, valuations, assurance or other services listed as excluded in the Engagement Letter.

Tax advice about the tax consequences of a proposed or completed transaction is not a recommendation to acquire, hold or dispose of a financial product. We will refer a matter requiring an Australian financial services or credit licence, migration registration, legal practising entitlement, valuation credential or foreign professional qualification.

A disclaimer cannot change the substance of a regulated service. Personnel must apply the firm’s service-boundary procedures and escalate uncertainty before advice is given.

6. Professional framework

Tax agent services are subject to the Tax Agent Services Act 2009, Tax Agent Services Regulations 2022, the Code of Professional Conduct, the Tax Agent Services (Code of Professional Conduct) Determination 2024 and applicable TPB guidance. As a CPA public practice, applicable professional standards include APES 110, APES 220, APES 305, APES 320 and APES 325, together with any standard governing a particular service.

We will act with integrity, objectivity, professional competence and due care, confidentiality and professional behaviour; manage conflicts; take reasonable care; maintain competence; supervise services provided on our behalf; and maintain quality and risk-management systems. The client’s responsibilities do not displace these obligations.

7. Conflicts, independence and joint clients

Before and during the engagement, we may conduct conflict, independence and risk checks. You must disclose relationships and interests that could create a conflict. We will not proceed where a conflict cannot be managed consistently with law, informed consent and professional obligations.

For spouses, family groups or related entities, the engagement documents must identify each client, the common purpose, permitted information sharing, who may give instructions and how conflicts will be handled. We do not assume that one spouse or family member may bind or receive confidential information about another.

If information material to a joint engagement is provided by one joint client with an instruction not to disclose it to another, we may be unable to continue. We may require separate advice or withdraw for one or all clients.

8. Client authority and representatives

A person instructing us for a client must have actual authority. We may request identity, power of attorney, guardianship, executor, trustee, director, partner or other evidence. We may refuse instructions where authority is unclear or contested.

Authority to obtain ATO information or lodge a document does not, by itself, authorise a representative to make personal elections, approve facts, waive confidentiality or bind another client beyond the authority evidenced.

Where relevant to acceptance, continuance or handover, we will ordinarily seek the client’s permission, preferably in writing, before communicating with an existing or predecessor accountant or adviser or requesting client-owned records from them. If permission is refused or communication is not possible, we will take other reasonable steps to assess threats and decide whether to accept or continue the engagement. An existing or predecessor adviser may disclose confidential information only where authorised or otherwise permitted or required by law or professional standards.

9. Client information and records

The client must provide complete, accurate and timely information and identify records that are estimated, reconstructed, disputed or unavailable. Material information includes facts and records that may increase or decrease tax, affect residency or treaty treatment, change an election, support a deduction, expose another country filing obligation or affect a tax credit.

The client must not assume that ATO pre-fill, prior returns, broker summaries, crypto software or information held by us is complete for the current engagement. The client must review factual chronologies, calculations and drafts and notify us of inaccuracies.

10. Reasonable care, evidence and verification

We do not perform an audit or assurance engagement unless expressly engaged under an applicable assurance standard. However, the absence of an audit does not remove our obligation to make reasonable enquiries, consider inconsistencies and obtain evidence where required by law, professional standards or risk.

Unless expressly agreed otherwise, the engagement procedures are not designed, and the engagement cannot be relied on, to disclose every irregularity, fraud, other illegal act or error. This limitation does not reduce our obligation to respond appropriately to matters encountered during the agreed work.

We may request contracts, bank statements, broker records, settlement statements, property records, travel evidence, foreign assessments, valuations, translations, wallet records, transaction hashes and other substantiation. We may decline a claim, election or conclusion that lacks a sufficient factual or legal basis.

11. Estimates, reconstructions and missing information

An estimate or reconstructed amount may be used only where legally and professionally permissible and reasonable in the circumstances. The basis, limitations and supporting information must be documented, and the client must approve any material assumption or estimate that depends on the client’s knowledge.

If reliable completion is not possible, we may delay the work, provide scenario analysis, qualify advice, recommend further evidence, recommend amendment or voluntary disclosure, decline lodgment or terminate.

12. Tax advice, tax planning and uncertainty

Tax advice is an opinion based on the identified facts, assumptions, law and authorities at the advice date. Where a material uncertainty exists, we will consider the legal basis, likelihood of challenge, consequences, disclosure options and further advice reasonably required. We will not describe a position as guaranteed or beyond challenge. For tax planning or related services, we will not recommend or assist an arrangement that lacks a credible basis in law, depends on false or misleading information, or would be contrary to applicable ethical requirements. Material alternatives and consequences will be explained where relevant.

Within the agreed scope and where material, we will explain relevant rights, obligations and options under taxation law, including whether a private ruling, amendment, objection, appeal, voluntary disclosure or another procedure should be considered, and any possible penalties, interest or other tax consequences, so the client can make an informed decision.

13. Australian expatriate and non-resident matters

Australian domestic-law residency, treaty residency and temporary-resident status are assessed separately. The relevant period, facts and treaty must be identified. We may prepare alternative outcomes where critical facts or legal positions are uncertain.

Australian advice about a treaty or foreign income does not constitute advice on the foreign country’s domestic law. The client must obtain foreign advice for foreign returns, tax residence, foreign tax finality, social security, immigration and legal issues unless a suitably qualified foreign adviser is separately engaged.

Residency changes may affect CGT assets, cost bases, discount entitlement, taxable Australian property and elections. We will not make a choice or election without documenting its material consequences and obtaining the required client instruction.

14. Foreign currency, foreign tax and valuations

Foreign income is ordinarily recorded gross, with foreign tax separately identified. Foreign tax withheld is not necessarily tax finally paid or eligible for an Australian offset. Refunds, assessments, timing and treaty relief may affect the result.

Foreign-currency conversion will use a method supportable for the relevant item and period. The client must provide currency, dates and records. Material valuations and translations may require an independent specialist. We may rely on a specialist’s report for its stated purpose, subject to reasonable consideration of suitability.

15. False or misleading information and non-compliance

We must not knowingly or recklessly make, prepare, permit or support a materially false or misleading statement, including by omission. If an issue is identified, we may require evidence, correction or amendment and advise the client of materially related rights, obligations and consequences.

If the issue is not resolved, we may refuse to lodge, cease acting or take another action required or permitted by law or professional standards. Any external disclosure will be assessed under the applicable legal and professional framework, including confidentiality and NOCLAR requirements

16. Personnel, specialists, supervision and quality management

We may allocate suitably competent employees, contractors and specialists. Tax agent services provided on our behalf will be supervised in accordance with applicable requirements. The engagement may be subject to internal or external quality, risk, professional-body, insurer or regulatory review under confidentiality safeguards.

Where foreign law, valuation, legal or another specialist issue is material, we may recommend or engage an appropriate expert with the client’s approval. Responsibility for the expert’s separate advice remains governed by the expert’s engagement unless we expressly accept a different role.

Where the work of another member in public practice or a material specialist will be used, the Engagement Letter, Provider Schedule or written variation will identify the person or firm, role, responsibility, separate engagement and required client authority. We will not disclose a third-party specialist’s opinion or name to a revenue authority without that party’s consent unless disclosure is legally required.

17. Outsourced services and cloud computing

Where supplied for an engagement, the Provider Schedule identifies material outsourced service providers, the geographic location where an outsourced service is performed, and the nature and extent of that service. It also identifies material cloud providers, likely data locations and how confidential information is stored or processed to the extent reasonably ascertainable.

The Provider Schedule is version-controlled. Where it forms part of the engagement, material changes will be communicated where required. A generic statement that data may be processed ‘anywhere overseas’ is not a substitute for reasonable provider due diligence or practicable country disclosure.

18. Privacy, TFNs and confidentiality

Personal information is handled under the Privacy Policy and collection notice. Where the Australian Privacy Principles apply, we will comply with them; TFN information is also subject to the Privacy (Tax File Number) Rule 2015 regardless of whether every APP otherwise applies. Professional confidentiality obligations apply independently.

We collect and use only information reasonably required for professional, legal, security, quality and administrative purposes. Government identifiers are not adopted as our own identifiers except where lawful. We take reasonable security steps and apply retention and secure-destruction controls.

19. Cross-border disclosure and overseas access

If personal information is likely to be disclosed to an overseas recipient, the Privacy Policy, relevant collection notice and any Provider Schedule supplied for the engagement identify likely countries where practicable. Before an overseas disclosure subject to APP 8, we will take reasonable steps required in the circumstances unless an exception applies.

Storage or routing by a provider may not always constitute a legal ‘disclosure’ where the firm retains effective control, but provider use will still be assessed for confidentiality, security, professional and privacy risk. Client consent does not automatically remove accountability or professional obligations.

20. Identity verification, fraud prevention and cybersecurity

We may use approved digital or manual identity procedures and record the verification outcome rather than retaining unnecessary identity-document copies. We may request additional verification for high-risk instructions, changes to bank details, refunds, representatives or unusual transactions.

Clients must use nominated secure channels, protect credentials and verify unusual payment or bank-detail requests independently. Email and cloud links carry residual risk. Each party must notify the other promptly of a suspected compromise relevant to the engagement.

21. AML/CTF and sanctions

The firm does not provide, and does not intend to provide, professional designated services under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 from 1 July 2026. This current position is based on the firm limiting its services to tax-return preparation, after-the-event tax calculations and tax advice that does not directly advance a designated transaction or structure.

The firm excludes services that constitute or may constitute professional designated services, including directly assisting to plan or execute specified real-estate or entity transfers, receiving, holding, controlling or managing client property to advance a transaction, directly assisting with equity or debt financing, selling or transferring shelf companies, directly assisting to create or legally restructure companies or trusts, arranging nominee or officeholder roles, or providing registered-office or principal-place-of-business services. A request that may fall within the
designated-services regime will not commence unless separately assessed, accepted in writing and supported by every applicable AML/CTF control.

We may decline, suspend or terminate a service where identity, authority, ownership, sanctions, fraud or other integrity risk cannot be resolved. We do not accept instructions designed to conceal beneficial ownership or evade a legal reporting obligation.

22. Electronic communications, approvals and signatures

We may communicate by portal, email, electronic workflow, telephone, approved messaging platform or other agreed channel. Sensitive information may be restricted to nominated systems. Electronic communications may be delayed, corrupted, intercepted or misdirected despite reasonable controls.

A digital signature, portal approval, typed acceptance or email approval may evidence consent where lawful and sufficiently attributable. The client must review the complete document before approval. We may require stronger authentication for high-risk instructions.

23. Timing, deadlines and delays

Estimated completion dates are not guarantees. We will identify material statutory deadlines within the agreed scope and use reasonable care in managing them. The client must provide requested information and decisions in sufficient time.

We are not responsible for delay or loss caused by incomplete or late client information, third-party or revenue-authority delay, system outage or events beyond reasonable control, except to the extent caused or contributed to by our breach of a non-excludable duty. We will take reasonable mitigation and communication steps.

24. Fees, disbursements and scope variations

Fees are based on the accepted quote or schedule and may be fixed, hourly, staged or another disclosed basis. GST is added where applicable. Disbursements or specialist costs require disclosure and approval unless included in a fixed fee.

If assumptions underlying a fixed fee are materially incorrect, we may propose a variation. We will not unilaterally impose an undisclosed material price increase without a right to accept, decline or terminate the additional work, subject to urgent protective work lawfully undertaken.

The firm does not currently participate in referral-fee or commission programs. If a future arrangement is connected with an engagement, it will be disclosed in writing before it applies, including the other party and method of calculation or value, and threats to objectivity will be addressed. Any contingent or outcome-based fee must be expressly agreed and permitted by law and professional standards. Unless expressly disclosed and permissible, fees are not calculated as a percentage of a tax refund or tax saving.

25. Payment, cancellation and refunds

Invoices are payable on the agreed terms. We may pause work for overdue amounts after reasonable notice unless doing so would breach a legal or professional duty.

On cancellation or termination, the firm may retain or invoice a reasonable amount for services properly performed and actual reasonable non-recoverable third-party costs. Any prepaid balance for services not supplied will be refunded. Administrative or cancellation charges must reflect a legitimate interest and must not be punitive or disproportionate.

Nothing in these Terms limits a remedy for failure to comply with a consumer guarantee or other non-excludable obligation.

26. Client money and tax refunds

We do not maintain a client trust account and do not receive, hold, control or manage ATO refunds or other client money on a client’s behalf. Amounts paid to us as professional fees or reimbursement of agreed disbursements are not held on trust. Payments should be made only to an account independently verified as ours. Tax refunds are paid in accordance with ATO records and client instructions.

27. ATO appointment, correspondence and lodgment

An ATO appointment is limited by the agreed scope and may continue administratively after the engagement ends. The client remains responsible for communications sent directly to the client. We are responsible only for correspondence monitoring expressly included for an identified period.

We will not lodge a return or other document requiring client approval until the required declaration or valid approval has been obtained. At completion or termination, we will clarify unresolved matters and may remove or limit the ATO appointment where appropriate.

28. Deliverables, intended use and no assurance

Deliverables are for the purpose and intended users identified in the engagement documents. A tax return workpaper is not an audit or assurance report. No assurance is provided unless expressly agreed under an applicable assurance standard.

A third party may not rely on a deliverable without our written agreement, except for a revenue authority, court, regulator or successor adviser receiving it for a lawful and relevant purpose. We accept no responsibility for alteration, incomplete extraction or use outside the stated purpose, subject to non-excludable law.

29. Working papers, intellectual property and client records

The client owns original records supplied by the client. Once the related fees have been paid, the client is entitled to final deliverables prepared for the engagement, including completed returns, schedules, financial statements or advice issued to the client. We own working papers, internal notes, review and risk records, templates, methods and other intellectual property, subject to legal access, privacy, handover and client-record obligations. The client receives a non-exclusive right to use final deliverables for their stated purpose.

We may retain copies of client documents and communications required for professional records. On request or handover, we will identify and provide client-owned documents as required, subject to security, privacy and professional obligations. We may assert a particular lien only where lawful, over property capable of being subject to a lien, for unpaid fees connected with work that added value to that property, and after written notice. We do not claim a general lien over unrelated client records. A lien dispute may be raised through the complaints process and may
require independent legal advice.

30. Record retention and destruction

Retention depends on record type. We apply a documented schedule covering taxation, TPB, corporate, employment, privacy, professional standards, insurance, litigation holds and limitation periods. A general five-year statement is not applied where a longer period is required. 

At the end of the applicable period, records may be securely destroyed or de-identified unless a legal hold or other lawful reason requires continued retention. TFN information is not retained merely because it may be useful in future.

31. Changes in law, guidance or circumstances

The engagement is based on law and facts available at the relevant completion date. No continuing update service is provided unless expressly included. We will correct our own identified error and comply with any continuing legal or professional obligation, but we are not engaged to monitor future changes automatically.

32. Suspension, termination and successor co-operation

Either party may terminate by written notice. We may terminate immediately where necessary for legality, safety, sanctions, unmanaged conflict, fraud, integrity or professional obligations, and otherwise provide reasonable notice where practicable.

Termination does not affect accrued rights. We will take reasonable steps concerning urgent deadlines, return of client-owned documents, confidentiality, ATO authorisation and communication with a successor adviser. We may charge for reasonable handover work not caused by our breach, subject to the engagement and law.

33. Complaints and dispute resolution

Complaints should be directed to the Complaints Officer at info@aimsaustralia.com.au. We will acknowledge, investigate and respond under our complaints procedure. A client may also complain directly to the TPB concerning tax agent services and to the OAIC concerning privacy after giving us a reasonable opportunity to respond, without losing any other right.

The parties may agree to negotiation or mediation, but no clause requires a client to surrender a statutory complaint, tribunal or court right.

34. No guarantee; consumer law; liability; governing law

We do not guarantee a refund, tax outcome, residency conclusion, ATO acceptance, processing time, penalty remission, objection result, investment result or foreign-tax result. Nothing in this clause limits any non-excludable consumer guarantee or any express written commitment that forms part of the engagement.

Nothing excludes, restricts or modifies any consumer guarantee, statutory right, professional obligation or remedy that cannot lawfully be excluded or modified. Any limitation under Professional Standards Legislation applies only to the extent the relevant scheme and law apply to the service and circumstances.

These Terms are governed by Victorian law, subject to mandatory Commonwealth, State, Territory or foreign law having application. Courts and tribunals with lawful jurisdiction may determine disputes.

Schedule 1 – Contractual documents and notices