Term and Conditions of the Engagement​

The following engagement letter will outline the accounting and taxation service from the firm WISTax® (ABN 79137341210), which includes:
  1. Tax return and lodgement services for PAYG, sole trader, partnership, company, trust and SMSF
  2. Financial statement preparation for non-individual entities.
  3. BAS and IAS return and lodgement services for sole trader, partnership, company, trust and SMSF
  4. Management consulting for business entities
  5. Tax planning
  6. ASIC company secretarial services
We will conduct our engagement according to the relevant professional and ethical standards issued by the Accounting Professional & Ethical Standards Board Limited (APESB). With relevance to APES 320, Australian Corporation act 2011, ITAA 1997 and ITAA 1932 SIS act 1993, Taxation Administration Act 1953. The extent of our procedures will be limited exclusively to this purpose. As a result, no audit or review will be performed, and accordingly, no assurance will be expressed. However, we will endeavour to make reasonable inquiries about the financial affairs and, at the time, might ask you to produce a sample of invoices to substantiate the claim or ask you to swear under OATH under the statutory declaration form to substantiate the claim. Of course, our engagement cannot be relied upon to disclose irregularities, including fraud, other illegal acts and errors that may exist. However, we will inform you of any such matters that come to our attention. Our professional services are conducted, and the tax return, bas return will be prepared for distribution to the relevant specific organisation or party for the purpose specified in the report or as agreed. We disclaim any assumption of responsibility for any reliance on our professional services to any party other than as specified or agreed and for the purpose for which it was prepared. Where appropriate, our report will contain a disclaimer to this effect.


In conducting this engagement, information acquired by us in the engagement is subject to strict confidentiality requirements. Accordingly, that information will not be disclosed by us to other parties except as required or allowed for by law or with your express consent. However, it is noted, that we will periodically send marketing email for target advertising using the data of name and email address which we collect, and you can opt out of the marketing email by clicking the opt out button in the marketing email.

We wish to advise that our firm’s quality control system has been established and maintained by 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. By taking and receiving this engagement letter, we give authority to WISTAX to use our information in an indefinite period from the engagement letter to perform the CPA quality review.

Clients are responsible for the reliability, accuracy, and completeness of the accounting records, particulars and information provided, and for disclosing all material and relevant information. In addition, clients are required to arrange for reasonable access by us to relevant individuals and documents. They shall be responsible for both the completeness and accuracy of the information supplied to us.

Any advice given to the Client is only an opinion based on our knowledge of the Client’s particular circumstances.

Provision of taxation service

A taxpayer is responsible under self-assessment to keep full and proper records 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 occur within up to 7 years after Tax becomes due and payable under the assessment. Furthermore, there is no time limit on amending the assessment where there is fraud or evasion. Accordingly, you should check the return before it is signed to ensure that the information in return is accurate. It is important to note that the seven years time frame does not apply for the capital gain event, which is a lifetime event.

Where the application of a taxation law to your particular circumstances is uncertain, you also have the right to request a private ruling that will set out the Commissioner’s opinion about how 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 events in your private ruling application. If there is any material difference between the facts set out in the ruling and what you 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, or the Commissioner fails to issue such a ruling, you can object to 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.

Period of Engagement

This engagement will start upon acceptance of the terms of engagement by the Client in line with this brochure. We will not deal with earlier periods unless the Client specifically asks us to do so and we agree.


The fee arrangement is based on the expected amount of time and the level of staff required to complete the services as outlined in prior section. This fee arrangement may be subject to change if the following circumstances should occur:

If the work inclusive of Tax, BAS, IAS need to be amended due to non-disclosure from the Client

If WISTAX needs to assist with the tax audit for the specific tax and/or bas return.

Fee invoices will be issued in line with a billing schedule advised to the Client. The hourly rate for the principal is charged at $440 per hour + GST, and the hourly rate for the assistants of John Cheng is charged at $150 to $220 per hour + GST.

It is to be noted that the all meetings with the client will be free for the first 15 minutes, and after that, an hourly rate of $350+gst to 400 +gst will be charged pro rata on the time of the interview. The interval to bill the time is 5 minutes.

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: http://www.professionalstandardscouncil.gov.au.

Ownership of Documents

All original documents obtained from the Client arising from the engagement shall remain the Client’s 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 Tax, IAS and BAS returns for individuals and non-individual. Ownership of these documents will vest in you. All other copies produced by us in respect of this engagement will remain the firm’s property.

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.

Confirmation of Terms

Acceptance of our services in conjunction with this information brochure indicates that you understand and accept the arrangements. This information will be effective for future engagements unless we advise you of any change.


(18) 0084 1312

suite 40, 23 Narabang Way, Belrose, NSW, 2085