I hereby instruct Associated Business Advisors 2020 Limited (ABA) to prepare my Financial Statements and/or Income Tax Returns for the financial year indicated above. I undertake to supply all information necessary to carry out such services and will be responsible for the accuracy and completeness of such information.
I accept responsibility for the accuracy and completeness of the information supplied in this questionnaire which is to be used in the preparation of my Financial Statements and/or Income Tax Returns. You are not to complete an audit, nor do I wish you to undertake a detailed review of my affairs in order to substantiate the accuracy of my information, and therefore you are not asked to provide any assurance on my Financial Statements. I understand your work cannot be relied on to detect error and fraud and that you accept no liability for the accuracy and completeness of the information supplied by me. I further understand that the Financial Statements will be prepared at my request and for my purposes only and that you will not be liable for any losses, claims or demands by any third person.
I also accept responsibility for all other records and information supplied to you other than those listed above. I accept responsibility for any failure by me to supply all relevant records and information to you.
I acknowledge that any interest, penalties and/or additional taxes charged by the Inland Revenue Department that arise from the supply of incomplete information to ABA shall be my responsibility.
I hereby authorise ABA to obtain from any third party any records or information ABA requires for the purpose of preparing my Income Tax Returns and accordingly, any third party is authorised to provide ABA with information required.
All other terms and conditions of this engagement are the same as those referred to in the original Engagement Letter I/we signed when I/we became a client.
For ABA to start preparing your Financial Statements and/or Income Tax Returns, please sign the authorisation below.
Generally, only 50% of entertainment costs are tax deductible, with the following exceptions.
- Meals while travelling out of town on business (unless with an existing business contact or guest).
- Meals provided at a conference of at least four hours duration not including meal break.
- Meal allowances paid to staff working overtime.
- Incidental entertainment at functions open to the public and with trade displays.
- Meals whilst on an overseas business trip.
- Entertainment for charitable purposes.
You have a mixed-use asset if, during the tax year, it's used for both private use and income earning use, and it's also unused for 62 days or more. The rules apply to any:
- property, regardless of cost price or current value e.g. a holiday home.
- aircraft or boat which had a cost or market value of $50,000 or more when you bought it.
Please note “private use” of an asset is by you, your family or associated people. It can also include when the asset is used by a non-associated person who pays you at less than 80% of market rate.
You've answered Yes to having needing a personal tax return completedOnce you have completed this questionnaire, please ensure you also complete our Individual Questionnaire Follow this link to access the Annual Individual Questionnaire Checklist
If you are a Sole Trader operating a business, then you should complete both a Business and Individual Questionnaire.