BFS Terms & Conditions

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TERMS & CONDITIONS OF ENGAGEMENT

Application of Terms:

These Terms and Conditions apply to all services provided by Business Fidelity Solutions Group ("BFS", "we", "us") to the client and/or its associated entities as listed in the Service Proposal. All listed entities and individuals are jointly and severally liable for the payment of our invoices.

Nature and Scope of Services:

Professional Capacity:
BFS provides accounting, business advisory, and company secretarial services. We operate as a registered ASIC Agent and are members of CPA Australia.

Non-Tax Agent Disclosure:
BFS is NOT a Registered Tax Agent as defined under the Tax Agent Services Act 2009 (Cth). Our services do not include providing "tax agent services," such as providing legal interpretations of tax laws for the purpose of compliance or lodging income tax returns.

Service Limits:
Our services are limited to those expressly outlined in the Engagement Letter. Any additional requests will be treated as a variation and will incur further fees

Client Responsibilities:

Information Provision:
You agree to provide all necessary information and documentation in a timely, accurate, and complete manner.

Accuracy of Data:
We will not audit or verify the accuracy of the information provided by you (unless otherwise agreed in writing). BFS assumes no responsibility for errors or penalties resulting from inaccurate or incomplete information.

Identity Verification:
To comply with professional standards and regulatory requirements (including Anti-Money Laundering considerations), we are required to verify the identity of our clients. You agree to provide all requested identification documents and acknowledge that we may use third-party verification services to confirm the authenticity of these documents.

Record Keeping:
It is your legal responsibility to maintain business records (including receipts and calculations) for a minimum of five (5) years.

Financial Reporting (APES 315):

Financial information will be compiled in accordance with APES 315 "Compilation of Financial Information". We do not perform an audit or review, and therefore, no assurance is expressed regarding the financial reports

ASIC Agent Authority:

Fees are charged as per the Cost and Services Agreement and are subject to GST

Payment is required within 14 days of the invoice date. BFS reserves the right to suspend services for any overdue accounts

Termination:

Either party may terminate the engagement with 30 days' written notice. Upon termination, BFS is entitled to payment for all work performed up to the termination date


LEGAL DISCLAIMER

General Information Only:

The content provided on this website is for general informational purposes only and does not constitute professional accounting, legal, or tax advice. While BFS endeavours to keep the information accurate and up to date, the legal and regulatory landscape in Australia is subject to frequent change.

No Professional-Client Relationship:

Your use of this website or communication with us through the site does not create a professional-client relationship until a formal Engagement Letter has been signed.

External Links and Third-Party Advice:

For comprehensive tax matters, we strongly recommend consulting a Registered Tax Agent or visiting the official website of the Australian Taxation Office (ATO) at www.ato.gov.au. BFS is not responsible for the content of external websites linked from this site.


PRIVACY POLICY

Commitment to Privacy:

BFS is committed to protecting your privacy in accordance with the Privacy Act 1988 (Cth) and the Australian Privacy Principles (APPs).

Information We Collect:

We collect personal and financial information necessary to provide our services, including:

  • Name, contact details, and dates of birth.
  • Financial records, employment details, and corporate structures.
  • Identification documents (as required by law).

Use and Disclosure:

Primary Use:
We use your information to provide accounting, ASIC, and advisory services.

Third Parties:
We may disclose information to professional advisors (lawyers/consultants), financial institutions, or regulatory bodies (ASIC/CPA Australia) if required for the performance of our services.

No Sale of Data:
We do not sell your personal information to third parties.

Cross-Border Data Disclosure (Xero and QuickBooks ):

BFS utilizes Xero and QuickBooks for accounting services. Data processed through Xero is stored on servers located in the USA. By providing your information, you consent to this overseas disclosure. You acknowledge that BFS will not be held accountable under the Privacy Act 1988 for any privacy breaches by overseas recipients, and you may not be able to seek redress under Australian law for such breaches.

Important Notice:
In the event that the processing or use of your personal information involves the disclosure of any information outside Australia, you acknowledge that by providing us with your personal information, you consent to such overseas disclosure. By consenting to such disclosure, you acknowledge and accept that:

  • BFS will not be accountable under the Privacy Act 1988 for any breach of your privacy by the overseas recipient; and
  • you will not be able to seek redress under the Privacy Act 1988 for any breach of your privacy by the overseas recipient.

Security and Access:

We take reasonable steps to protect your information from unauthorized access or misuse. You have the right to request access to the personal information we hold about you by contacting our Privacy Officer.


DISCLAIMER

General Information Only:

The content provided on this website is for general informational purposes only and does not constitute professional accounting, legal, or tax advice. While Business Fidelity Solutions Group (“BFS”) endeavors to ensure information is current and accurate, the legal and regulatory landscape in Australia evolves rapidly. BFS makes no guarantees regarding the reliability or completeness of the information presented.

No Professional-Client Relationship:

Use of this website or communication with BFS via this site does not establish a professional-client relationship. Such a relationship is only formed upon the execution of a formal Letter of Engagement.

Non-Tax Agent Disclosure BFS is not a Registered Tax Agent:

Under the Tax Agent Services Act 2009. We do not provide tax agent services, tax planning, or tax lodgement services. For comprehensive tax advice or lodgement, we recommend consulting a Registered Tax Agent or visiting the official Australian Taxation Office (ATO) website at www.ato.gov.au.


PRIVACY POLICY

Current as at 01 Sep 2024

BFS recognizes the importance of privacy and is committed to protecting your personal information. We are bound by the Privacy Act 1988 (Cth) and the Australian Privacy Principles (APPs).

Information We Collect:

The type of information we collect depends on the service provided and may include:

  • Contact details (name, address, email, phone);
  • Date of birth and identification documentation;
  • Financial information and business structures.
  • Employment details and salary information;
  • Details of assets, liabilities, and financial goals.
We generally do not collect sensitive information (e.g., race, religion, criminal records) unless required by law or provided with your express consent for specific purposes (such as insurance applications).

Use and Disclosure of Information:

We use your personal information primarily to provide the accounting, consulting, and ASIC agent services you have requested. We may disclose your information to:

  • Third-party professional advisors (e.g., solicitors or auditors) with your consent;
  • Financial institutions (for finance procurement at your request);
  • Regulatory bodies (e.g., ASIC or CPA Australia) where required by law or professional standards.
BFS does not sell personal information to third parties.

Data Security:

We take all reasonable steps to protect your personal information from misuse, loss, unauthorized access, or disclosure. When information is no longer required, it is de-identified or securely destroyed.

Cross-Border Disclosure (Xero & Cloud Storage):

We use cloud-based platforms, including Xero, QuickBooks to process and store data. This information may be stored on servers located outside of Australia (predominantly in the USA). By providing your information, you acknowledge and consent to this overseas disclosure. You understand that:

  • Overseas recipients may not be subject to privacy laws as stringent as the Australian Privacy Act;
  • BFS will not be held accountable under the Privacy Act 1988 for breaches by overseas third-party recipients, and you may not be able to seek redress under Australian law for such breaches.

Access to Your Information:

You have a right to access and correct the personal information we hold about you. To make a request, please contact our General Manager. We will provide reasons if access is denied (e.g., where it impacts the privacy of others).


TERMS OF USE

Scope of Authority BFS operates as a registered ASIC Agent and provides accounting services in accordance with CPA Australia professional standards. We are authorized to manage your company’s secretarial compliance and ASIC lodgements under your instruction.
Limitation of Liability BFS is not liable for any penalties or losses arising from:

  • Inaccurate or incomplete information provided by the client;
  • Delays in receiving information required for statutory lodgements (e.g., ASIC annual reviews).
  • Electronic Communication: We may communicate with you electronically from time to time. You acknowledge that electronic transmissions are inherently insecure and BFS is not liable for any loss or damage caused by viruses, interception, or unauthorized access to such communications or data.
  • No Safe Harbour: Because we are not Registered Tax Agents, you may not be entitled to "safe harbour" protections from administrative penalties regarding late or incorrect tax lodgements.
Intellectual Property All content, methodologies, and materials on this website are the intellectual property of BFS and may not be reproduced without written permission

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