This letter is to confirm our understanding of the terms of our engagement and the nature and limitations of the services that we provide. By signing up with Top SMSF Pty Ltd (Top SMSF), you appoint and authorise us to carry out the Annual Administration and Audit of your Self-Managed Superannuation Fund (SMSF)according to the SMSF legislation and guidelines.
Period of Engagement
This engagement will commence on the date you provide your SMSF information to us or confirm your engagement of our services. This engagement document will remain effective for future years unless we issue an amended version to you.
If there is more than one individual acting as a Trustee personally or as Directors of a corporate Trustee, each individual is considered an agent for the others. You each authorize and direct us to accept instructions from any one individual without needing to confirm with the others. All individuals agree, jointly and severally, to pay our tax invoices. Our costs are payable up to the termination of the services and for any work required after termination.
Audit
Top SMSF will not conduct any independent audit of the financial statements or income tax returns prepared. However, we will facilitate the provision of such an audit with an approved independent Auditor. The Trustee confirms that Top SMSF will select the independent Auditor unless otherwise agreed. The Trustee will sign the relevant Auditor Engagement Letter and any other documentation required by the Auditor to complete the audit of the Fund.
Base Fee
Under our base fee, you agree to the following conditions:
- The Trustee provides Top SMSF with all requested third-party authority forms.
- The Trustee has provided a signed Direct Debit Request Authority to Top SMSF and has no outstanding fees.
- The Trustee and Top SMSF agree that the Direct Debit Request Authority will be held on file for payment of the monthly fee.
- You agree that, in cases where there are outstanding amounts for completed work, the Direct Debit Request Authority will also be used for payment of such fees.
- Each investment needs to be entered in the accounting software and will show in various Financial reports with the number of units, purchase price, current price, and profit/loss information.
The Trustee has met the above conditions for the period of the administration work.
Additional Fees
Where additional fees apply, you agree that, the Direct Debit Request Authority will also be used for payment of such fees. Please refer to our website for additional fees that may apply.
Time based fee
Our pricing structure is based on time spent. This depends on the amount of work required for the completion of the specific task. Other factors which could influence our fees are completeness and correctness of the supplied documentation.
Professional Advice
We recommend that you seek professional advice before making any investment decision. The products and services described on this site are available only to Australian residents. Applications from individuals other than Australian residents for a SMSF will not be accepted. The information on this site was prepared in accordance with Australian law for the supply of goods and services. This notice, the information on this site, and all related matters are governed by and construed according to the laws applicable in the State of Victoria and the Commonwealth of Australia (“Australian law”). The information may not comply with the laws of any other country and is not directed at or intended to be relied upon by individuals in any other country. The information on this site is current as of the date of publication but may be subject to change.
Limitation of Liability
Except to the extent that any such loss is attributable to wilful negligence, deceit or default of Top SMSF will not be responsible or liable for any claims that arise, whether directly or indirectly as a result or consequence of:
The Trustee breaching the provisions of the Trust Deed or any applicable laws which result in the Fund being deemed non-compliant with the Superannuation Laws;
The Trustee failing to comply, or failing to comply in sufficient time, with any of the Trustee’s responsibilities pursuant to the provisions of the Agreement; and
Any act, omission, deceit, neglect, mistake or default of any person not authorised by the Trustee or Top SMSF.
Confidentiality
We will treat as confidential and maintain the confidentiality of all information and records that you provide to us. This information will only be disclosed to a third party where you provide specific authority for us to provide this information to them, or where we are subject to a legal duty to disclose the information.
Unless otherwise agreed between Top SMSF and the Trustee, you authorise Top SMSF to provide all necessary information to an independent Auditor we nominate.
From time to time during the completion of your work, we may engage various staff and or contract personnel who we consider appropriate for the completion of your work. These personnel will have access to your accounting and taxation records only for the purpose of completing the accounting and taxation engagements agreed.
Outsourcing Services
In some circumstances, Top SMSF uses third party service providers to carry out its functions and provide services. These service providers are typically located in Vietnam.
Acceptance of our services in conjunction with this engagement document indicates your acceptance of the use of outsourcing services as described. Where the outsourcing service requires the disclosure of personal information to an overseas recipient, a consequence of your consent is that Top SMSF will be required to take reasonable steps to ensure that the Australian Privacy Principles are complied with by the overseas recipients of the Personal Information. In all cases these personnel will be subject to our supervision and control.
Standards
You will be provided the highest standard of professional service. If for any reason you feel you have not received the service expected, please in the first instance, contact us to discuss.
Storage of Personal Information
In providing our services to you, we utilise cloud computing systems provided by BGL360, IPA Book+, Microsoft OneDrive, Zoho Workspace and Xero which are based in Australia.
Entire Agreement
This Agreement is the entire agreement and understanding between the parties on everything connected with the subject matter and supersedes any prior understanding, arrangements, representation or agreements between the parties as to the subject matter contained in this agreement.
Termination of Services
You may end your engagement with Top SMSF and close your account at any time, for any reason, by providing written notice. Upon termination, Top SMSF will cease acting as your registered tax agent.
Top SMSF also reserves the right to terminate your account and cease providing services at any time and for any reason, by giving you written notice. Fees paid up to the date of termination are non-refundable. In the event Top SMSF terminates the engagement, no further financial obligations will be owed to your SMSF.
Client Acknowledgement and Confirmation
Please contact us if you have any queries about this engagement.
Before accepting this offer, you have the right to obtain independent legal advice regarding the terms and effect of this Agreement. You are deemed to have accepted and entered into this Agreement, binding you to the terms and conditions outlined in this document (including being invoiced accordingly), if you:
- Instruct us to proceed with providing the services after receiving this document;
- Proceed with using our services.
This letter will remain effective for future years unless we notify you of any changes.