Of course, Terms and Conditions apply
Which are detailed in our Engagement Letter being the document you will sign confirming the work you are asking us to perform for you and the basis upon which our relationship will be managed.
But as a precursor to that, we can confirm:
- We will not be taken advantage of! If you intend to engage our services with the objective of taking advantage of our guarantees and effectively profit from them, we won’t accept that.
- We will provide you with our professional advice on relevant matters, and if we feel a particular advantageous treatment is within the tax laws, then we will tell you so and recommend you proceed on that basis and stand by that. However, if a particular treatment is questionable, we will also tell you, and if our advice to you is that we don’t believe proceeding is correct and you decide to ignore our advice, we won’t be held responsible.
- Further in such a scenario, this includes where another accountant might tell you “sure you can do that, it will be fine”. If our advice is the treatment is not correct, and we are wrong, we will take responsibility and we will make the necessary amendments and keep working until we have it right. But we won’t where someone else will just let you proceed without themselves standing behind their advice and offering a similar guarantee that the treatment is allowable.
- Where an error has been identified, we will continue to work, at no further cost to you, to rectify it and put you in the position you should have been.
- Where an amendment is required and we are unable to attend to it for you, we will pay your out of pocket costs required to secure that amendment.
- Where we have provided specific, formal income tax advice and it is found not to be correct (ie. not just an administrative, processing or clerical error) then we will pay you the difference between what you originally paid the ATO and what you should have paid the ATO based on your Amended Assessment.*
- Where a dispute arises between our advice and another accountants, we may require you to obtain a Private Ruling from the ATO to confirm we were wrong.
- Of course as with all things, tax minimisation and tax planning takes time and therefore comes at a cost, and therefore there is a point where the cost/benefit analysis no longer works in your favour. Further, at a certain point, tax minimisation and tax planning can create a level of unwanted administration, or inconvenience or even risk of interference from the ATO. Therefore as our relationship develops, we will gain an understanding of how far you are prepared to take things, and as part of providing you with the best service and advice, we may determine, by express agreement with you, or by implication, there is a certain point where we will draw the line. This could potentially mean some extra tax is being paid, but the trade-off is less accounting fees, less time commitment from you, less administration work, less inconvenience and less stress and anxiety. We will only do so if we know it is in your overall best interests, but if we do make such a decision (usually in consultation with you) it is because it is the best thing for you and therefore we would not consider that a failure to meet our guaranteed commitment to you.
- Our guarantees are a new innovation and apply to new Clients as of August 2018. As mentioned the eligibility, details and terms and conditions of our guarantees and how they apply to you will be detailed in your Engagement Letter which you must execute before becoming a Client of CapitalQ. If your Engagement Letter does not include eligibility to the guarantees please request new Engagement terms which do.