Important Information

Part IVa

Part IVa of the Income Tax Assessment Act 1936, refers to tax avoidance schemes that may be utilised with the primary benefit being to unlawfully evade tax.  Broadly speaking, any arrangement which an individual or entity enters into where the only or main benefit obtained is a tax benefit, may be assessed according to this section of the Income Tax Assessment Act.

In the course of preparation of your tax returns/financial statements, we require our clients to advise of any schemes or arrangements that may need to be considered under this part of the Act.  We will then review any such arrangements to ensure they comply with the Tax Act, or advise an appropriate course of action otherwise.

We consider that a signed declaration on the provided copy of the income tax return constitutes not only the tax return being true and correct, but that compliance with Part IVa has been met.

Client Privacy and Confidentiality

Any information acquired by us in the course of our engagement is subject to strict confidentiality requirements. Information will not be disclosed by us to other parties except as required or allowed for by law or professional standards, or with your express consent.

Our files may, however, be subject to review as part of the quality control review program of CPA Australia & CA ANZ which monitor compliance with professional standards by their members.

We advise you that by signing an engagement letter you acknowledge that if requested, our files relating to this engagement will be made available under this program. Should this occur, we will advise you. The same confidentiality requirements apply under this program as apply to us.