The Standard Terms and Conditions are an integral part of the accompanying engagement letter (collectively referred to as the “Engagement Letter”). “Client” refers to the individual we are preparing the T1 tax return for.

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1. Use of Information

It is acknowledged that we will have access to all personal information in your custody that we require to complete the engagement. Our services are provided on the basis that:

 

• You represent to us that you have obtained any required consents for collection, use and disclosure to us of personal information required under applicable privacy legislation; and

• We will hold all personal information in compliance with this firm's Privacy Statement.

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2. Taxpayer’s Responsibilities

In addition to the responsibilities outlined in the Engagement Letter, it is also understood and agreed that:

 

a. You should retain all documents, cancelled cheques and other data that form the basis of income and

deductions for at least 7 years. These may be necessary to prove the accuracy and completeness of the

returns to a taxing authority.

 

b. You covenant to us that you are not aware of any illegal or possible illegal acts for which you have not

disclosed to us all facts related thereto.

 

c. It is important for you to know that the law imposes penalties in certain situations such as where a

taxpayer fails to report income or makes a false statement or omission knowingly or with gross negligence.

 

d. CRA applies a penalty if you have failed to report income this year and in any of the three preceding years (this can be as simple as forgetting to include a small T5 slip for interest income or any income Tslip of any kind). Care should be exercised to ensure all slips have been reported.

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3. Tax preparer’s Responsibilities

In addition to the responsibilities outlined in the Engagement Letter, it is also understood and agreed that:

 

a. We will not audit, review or otherwise attempt to verify the accuracy or completeness of any information provided. It is up to you to provide us with accurate and complete information necessary to prepare such personal income tax return(s).

 

b. Your (and your family's) personal income tax return(s) will include the following statement "Prepared without audit based on information provided by the taxpayer." along with our firm name identified as your tax return preparer.

 

c. If the income tax return contains any business or rental schedules where we compile the figures, we will include with such forms or schedules a "Notice of Reader" report.

 

d. Should you have reason to circulate such forms or schedules with or separate from the income tax return, you agree that this report shall also be included with the circulated document and that you will provide us with the name(s) of the party (or parties) to whom they are circulated.

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4. Working Papers

The working papers, files, other materials, reports and work created, developed or performed by us during the course of the engagement are the property of this Firm, constitute confidential information and will be retained by us in accordance with this Firm’s policies and procedures.

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5. Practice Inspections

In accordance with our professional obligations under the Chartered Professional Accountants Act and CPABC Bylaws hereunder, our client files must periodically be reviewed by practice inspectors and firm personnel, to ensure we are following applicable professional and firm standards. Reviewers are required to maintain confidentiality of client information.

 

 

6. Limitation of Liability

The liability of Reach CPA, Chartered Professional Accountants to you (and your family) for any claim related to professional services provided pursuant to the engagement letter in either contract, negligent misrepresentation or tort, including the partners, officers, or employees of the accounting firm shall be strictly limited to the amount of any professional liability insurance the firm may have available at the time such claims are made. No claim shall be brought against the accounting firm in contract, negligent misrepresentation or tort more than three years (from date of Notice of Assessment) after the services were completed or terminated under this engagement.

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If you have any questions about the contents of this letter, please call the office. If the services outlined are in accordance with your requirements and if the above terms are acceptable to you, please sign this letter in the space provided and return it to us prior to our commencement in preparing your personal tax return(s). We appreciate the opportunity of continuing to be of service to you (and your family) in the preparation of your personal income tax return(s).

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7. Time Frames

We will use all reasonable efforts to complete the engagement as described in this letter within the agreed-upon time frames. However, we shall not be liable for failures or delays in performance that arise from causes beyond our control, including the untimely performance by you or your representatives.

 

 

8. Costs of Responding to Government or Legal Processes

In the event we are required to respond to a subpoena, court order, government agency or other legal process for the production of documents and/or testimony relative to information we obtained and/or prepared during the course of this engagement, you agree to compensate us at our regular rates plus direct out-of-pocket expenses and applicable GST and/or PST.

 

 

9. Communications, Exchange and Storage of Information

In connection with this engagement, we may communicate and exchange information with you or others via telephone, facsimile, post, courier, email transmission, cloud storage and other collaborative software. As all communications and exchange of information can be intercepted or otherwise used or communicated by an unintended third party or may not be delivered to each of the parties to whom they are directed and only to such parties, we cannot guarantee or warrant that the communications or exchange of information between you and us will be properly delivered only to the addressee. Therefore, we specifically disclaim and waive any liability or responsibility whatsoever for interception or unintentional disclosure of communications or exchanged information transmitted between us in connection with the performance of this engagement. In that regard, you agree that we shall have no liability for any loss or damage to any person or entity resulting from the communications or exchange of information, including any consequential, incidental, direct, indirect, or special damages, such as loss of revenues or anticipated profits, or disclosure or communication of confidential or proprietary information.

 

 

10. Digital Signature

You consent that the use of ours and your electronic signature(s) on electronic documents will have the same validity as a wet ink signature.

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11. Satisfaction Guarantee

If you are not completely satisfied with our services, we have a money-back guarantee. We will first ask for your candid critique and then accept your payment for what you feel our service was worth to you.

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12. Termination of Engagement

In the event that either party wishes to terminate this engagement, they are required to advise the other party in writing. Once written notification has been served, no further hours will be charged. All time expended prior to the notification date will be invoiced. Client agrees to compensate us for all time expended, and to reimburse us for all our out-of-pocket costs, through to the date of termination.

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In the event that we are forced to resign from this engagement in order to comply with the Rules of Professional Conduct, or for non-payment, we will not be responsible for any loss, costs, expenses or damages resulting from such occurrences, and we are entitled to collect our fees for services provided to the date of ceasing to act.