Terms & Conditions
Purpose, Scope and Output
LHAccounting Pty Ltd T/A Nurture Accounting will provide accounting and taxation services, which will be conducted in accordance with the relevant professional and ethical standards issued by the Accounting Professional & Ethical Standards Board Limited (APESB) including the Code of Ethics for Professional Accountants (the Code). 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 may, as part of our responsibilities as a Member in Public Practice, take steps and actions as set out in Section 225 of the Code, “Responding to Non-Compliance with Laws and Regulations”. These include but are not limited to the following. During the course of our engagement, if we identify or suspect that non-compliance with laws or regulations has occurred or may occur, which may have a direct effect on material amounts or disclosures in the financial statements or compliance with which may be fundamental to the operating aspects of your business and your ability to continue its business or to avoid material penalty, we will discuss the matter with the appropriate level of management, those charged with governance or the internal auditor, as appropriate, to enable you to rectify, remediate or mitigate the consequences of the identified or suspected non-compliance or deter the commission of the non-compliance where it has not yet occurred. We will consider whether to communicate the non-compliance or suspected noncompliance with your external auditor, unless prohibited by law or regulation. We will also consider, based on materiality and/or significance of the matter, whether further action is needed in the public interest. Further action may include disclosing the matter to an appropriate authority even when there is no legal or regulatory requirement to do so or withdrawing from the engagement and the professional relationship where permitted by law or regulation. Where appropriate we will inform you of our intention to disclose the matter to an appropriate authority before disclosing the matter. However, if we have reason to believe that the actual or intended conduct would constitute an imminent breach of a law or regulation that would cause substantial harm to investors, creditors, employees or the general public, we may immediately disclose the matter to an appropriate authority in order to prevent or mitigate the consequences of such imminent breach of law or regulation.
There is no assumption of responsibility for any reliance on our report by any person or entity other than yourself and those parties indicated in the reports. The reports shall not be inferred or used for any purpose other than for which it was specifically prepared. Accordingly, our reports may include a disclaimer to this effect.
Period of Engagement
The period of engagement will be determined by the engagement document, and will start upon the return of the signed engagement document. The first period for which we will be responsible will be as per the individual agreement. We will not deal with earlier periods unless you specifically ask us to do so and we agree. This engagement document will be effective for future years unless we issue an amended one to you.
In conducting any agreement or engagement with Nurture Accounting, information acquired by us in the course of the engagement, including any information relating to your affairs whether it belongs to you or not or is provided by you or not, is subject to strict confidentiality requirements. That information will not be disclosed by us to other parties except as required or allowed for by law or regulations, or with your express consent unless, we determine that disclosure of the non-compliance or suspected non-compliance to an appropriate authority is an appropriate course of action in the circumstances.
We wish to draw your attention to our firm’s system of quality control which has been established and maintained in accordance with the relevant APESB standard. As a result, our files may be subject to review as part of the quality control review program of CPA Australia which monitors compliance with professional standards by its members. We advise you that by accepting our engagement you acknowledge that, if requested, our files relating to this engagement will be made available under this program.
You are responsible for the reliability, accuracy and completeness of the accounting records, particulars and information provided and disclosure of all material and relevant information. You are required to arrange for reasonable access by us to relevant individuals and documents and shall be responsible for both the completeness and accuracy of the information supplied to us. Any advice given to you is only an opinion based on our knowledge of your particular circumstances. You or your staff are responsible for maintaining and regularly balancing all books of accounts, and the maintenance of an adequate accounting and internal control system. You have obligations under self-assessment to keep full and proper records in order to facilitate the preparation of accurate returns. It is your responsibility to keep those records for five (5) years.
You are responsible for ensuring that your business activities are conducted in accordance with laws and regulations. You are also responsible for identifying and addressing any non-compliance by you, by an individual charged with governance of the entity, by a member of management, or by other individuals working for or under the direction of the client.
A taxpayer is responsible under self-assessment to keep full and proper records in order to facilitate the preparation of a correct return. Whilst the Commissioner of Taxation will accept claims made by a taxpayer in an income tax return and issue a notice of assessment, usually without adjustment, the return may be subject to later review. Under the taxation law such a review may take place within a period of up to four (4) years after tax becomes due and payable under the assessment. Furthermore, where there is fraud or evasion there is no time limit on amending the assessment. Accordingly, you should check the return before it is signed to ensure that the information in the return is accurate.
Where the application of a taxation law to your particular circumstances is uncertain you also have the right to request a private ruling which will set out the Commissioner’s opinion about the way a taxation law applies, or would apply, to you in those circumstances. You must provide a description of all of the facts (with supporting documentation) that are relevant to your scheme or circumstances in your private ruling application. If there is any material difference between the facts set out in the ruling and what you actually do the private ruling is ineffective.
If you rely on a private ruling you have received, the Commissioner must administer the law in the way set out in the ruling, unless it is found to be incorrect and applying the law correctly would lead to a better outcome for you. Where you disagree with the decision in the private ruling you can lodge an objection against the ruling if it relates to income tax, fuel tax credit or fringe benefits tax. Your time limits in lodging an objection will depend on whether you are issued an assessment for the matter (or period) covered by the private ruling.
Involvement of Others
All services are completed by the staff at Nurture Accounting in North Lakes, QLD, Australia. Where, as part of our engagement, the services of an external consultant or expert are required, an estimated cost and time-frame and involvement will be provided to you for your approval. We do not outsource any work to other firms nor overseas.
Storage of Personal Information
Client digital information retained by Nurture Accounting is stored at a local facility in Brendale (QLD). We however cannot guarantee data stored in third party software (such as Xero and MYOB) is stored within Australia.
By signing using our services and accepting our services you acknowledge and agree that your personal information may be stored overseas, and that Nurture Accounting will not remain liable for any data breaches beyond our control.
By placing your details into our website, or by becoming a Nurture Accounting client, you will be placed into our email marketing software program, ActiveCampaign. Your information is stored securely on this platform and encrypted, however Nurture Accounting cannot remain liable for data breaches beyond our control. We do not however store any of your sensitive information on this platform, such as bank details or credit card numbers. Through this service, you may receive an email on occasion, regarding changes at Nurture Accounting, or any general updates you may need to be informed about. You are welcome to unsubscribe from this service at any point in time, via the unsubscribe button at the bottom of the emails. Please note however, if you unsubscribe, we will not be able to individually contact you regarding important updates, and so by unsubscribing you are taking this risk on yourself.
The fee arrangement is based on the expected amount of time and the level of staff required to complete the requested services as agreed. An estimate of fees will be provided to you.
Our fees are payable within seven (7) days from the date of the invoice. A finance charge shall be incurred on any invoice amounts for services provided by LHAccounting Pty Ltd (ABN 93 605 341 080) which are outside the trading terms detailed on our invoice. Such a charge will be calculated monthly at the rate of 15% per annum and will continue to accrue until payment in full of the outstanding amount is received.
In the event of non-payment of any invoice by a client to LHAccounting Pty Ltd all costs and disbursements incurred in the recovery of the invoice amount by including where the overdue account is referred to a collection agency and/or law firm, shall be recoverable against the client. Our fees are non-refundable unless required by law.
In the event of a client having an overdue invoice/s for our services, it is Practice policy that no further work will be commenced or actioned until the overdue invoices are settled.
Limitation of Liability
Our liability is limited by a scheme approved under Professional Standards Legislation. Further information on the scheme is available from the Professional Standards Councils’ website: psc.gov.au.
Ownership of Documents
All original documents obtained from you arising from the engagement shall remain your property. However, we reserve the right to make a reasonable number of copies of the original documents for our records.
Our engagement will result in the production of electronic documents and file such as income tax returns, Financial Statements and Activity Statements. Ownership of these documents will vest in you. All other documents produced by us in respect of this engagement will remain the property of the firm, subject to any statutory obligations.
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.
Changes to Terms and Conditions
We reserve the right, at our sole discretion, to update, change or replace any part of these Terms and Conditions. It is your responsibility to check our website/this link/the updated link periodically for changes. Your continued use of or access to our website or the Service following the posting of any changes to these Terms and Conditions constitutes acceptance of those changes.
Please note that these Terms and Conditions remain valid when you have engaged us for any and all services/work. By agreeing to work with us, you understand that these Terms and Conditions will apply, whether or not you have signed and agreement with us.