Income tax returns
The purpose of this submission is to clearly explain the nature of my involvement as your personal income tax return preparer and to outline my responsibilities as your client on an annual basis..
1. The preparer's role:
- I will not audit, review or take any other action to ensure the accuracy or completeness of the information provided. It is your responsibility to provide me with the accurate and complete information required to prepare the tax returns in question..
- Your personal income tax returns will bear the following statement: “Prepared without verification of client data”. My name will appear as your tax preparer.
2. Customer's role:
- You are responsible under the Income Tax Act and the Taxation Act for the accuracy of the information and completeness of the statements contained in your returns. You declare that the information to be provided to me is, to the best of your knowledge, accurate and complete, and that it will fully satisfy all reporting requirements to which you are subject under the Income Tax Act and the Taxation Act.
- You confirm that you will provide me with all income and deduction information to be included in your tax returns, and that this information will be accurate and complete. You confirm that all sources of income will be identified, that all expenses claimed will have been incurred to earn income, and that all credits claimed will be supported by receipts.
- All schedules relating to business income (including commission income, farming income and professional income) and rental income will show operating results and include all transactions carried out ;
- All employment income and benefits will be reported, whether or not they appear on the “T4” and “Relevé 1” information slips ;
- All investment income (with or without receipts) will be reported, whether or not it appears on the “T3” and “Relevé 16”, and ‘T5’ and “Relevé 3” information slips ;
- All capital asset dispositions and related costs will be reported ;
- All estimates of personal automobile use, portion of residence used for business purposes and other such estimates provided by you will be reasonable and supported by records of use and other evidence..
- If, at any time during the year, you owned property outside Canada with a total cost of more than $100,000, you may be required to report this on your federal income tax return. Severe interest and penalties apply in cases of non-compliance. If this situation applies to you, you will provide me with accurate and complete information with respect to the specified foreign property you have owned or in which you have a beneficial interest in accordance with the Foreign Income Verification Statement (“T1135”), and you will fully disclose the related foreign source income and any gain realized.
- If you are eligible for the solidarity tax credit, you will confirm that the information on Schedule “D” is accurate and reflects the situation on December 31 of the year.
- You will disclose to me any illegal or potentially illegal acts and related facts.
- I recommend that you provide me, upon receipt, with copies of all communications you receive from the Canada Revenue Agency and Revenu Québec. There are often deadlines, and if they are not met, notices of proposed assessment or reassessment may be issued, or you may lose your opportunity to contest the assessment.
3. Fees
Once your tax returns have been completed, or when I have provided you with advice or other services on related matters, I will issue you with a bill based on my usual billing rates, which are revised annually. It is agreed that this invoice will be paid upon receipt.
Fees do not include requests for corrections or representations to governments, which will be billed separately at the hourly tax rate, if required.
If you have any questions regarding the content of this quotation, please do not hesitate to contact me. If the services described meet your requirements and the above conditions are acceptable to you, please sign the order form before I undertake the assignment.
The services set out in this quotation are what you expect. The conditions set out above are acceptable to you and you agree to them by signing the order form.
Mediation
1. Purpose of the mediation
The purpose of mediation is to enable the parties to reach an agreement on their dispute. To this end, the parties agree as follows.
2. Voluntary process
- The parties understand that mediation is an entirely voluntary process and that each party may withdraw and terminate unilaterally at its sole discretion. Each party freely agrees to participate in mediation in an active, positive and mutually respectful manner.
- The parties agree to suspend their small claims court proceedings either until an agreement is reached or until one of the parties or the mediator declares an end to the mediation ;
- It is agreed that either party or the mediator may terminate the mediation at any time. The parties retain and reserve their access to the courts. ;
- The parties agree to disclose voluntarily and upon request all relevant information, financial or otherwise, and to produce all documents necessary for the proper conduct of the mediation process and the development of an enlightened, fair and equitable agreement for all.
3. the mediator's impartiality
The parties acknowledge that the mediator is an impartial third party who does not represent either party.
4. Independent legal advice
- The parties acknowledge that the mediator will not give them an independent legal opinion with respect to their respective rights and obligations under the laws of Quebec or any other jurisdiction. However, the mediator will be able to inform the parties objectively about the legal aspects that concern them
- The parties also acknowledge that they have both been encouraged by the mediator to obtain an independent legal opinion whenever they feel the need to do so, and in particular before concluding and signing an agreement;
- If either or both parties fail to obtain an independent legal opinion prior to the execution of an agreement, such party or parties agree not to seek the liability of the mediator with respect to any provision of such agreement entered into in such circumstances;
5. Confidentiality and non-disclosure
Anything said or written during the mediation process is without prejudice and is not admissible as evidence in any legal or other proceedings.
The mediator, the parties, their advisors, their representatives and any persons accompanying them must respect and preserve the confidentiality of the entire mediation process. However, nothing in this agreement shall compromise in any way the right of the party who has received a disclosed document to use it in legal or other proceedings, where such party would otherwise have been entitled to do so.
The parties waive the right to summon the mediator by subpoena or otherwise, to act as a witness in the event of any subsequent dispute between them.
6. Asides or caucus
The mediator may, when he or she deems it useful, hold caucuses with either party, who may also, at any time, request a private and confidential meeting with the mediator. It is agreed that information disclosed to the mediator during a caucus is confidential unless the party concerned authorizes disclosure ;
7. Fees
- When the file is referred by the Small Claims Mediation Service, the prescribed number of hours payable by the Ministère de la Justice is THREE (3) hours, including out-of-session work if applicable.
- The parties may agree to continue the mediation beyond the three (3) subsidized hours, at the prescribed rate of $300 per hour plus applicable taxes, shared equally between them.
8. Final provisions
- This agreement is governed by the laws of the Province of Quebec.
- The clauses and stipulations of this agreement are independent of each other and the nullity, invalidity, unenforceability or amendment of any one of them will not affect the validity of the others.
- Each party as well as the mediator acknowledges having read this agreement, agrees to proceed according to the terms defined above and acknowledges having received a signed copy of the order form.
- This agreement is confidential.
In view of the use of technological means to conduct the mediation, by signing the submission, the mediator confirms that he has validly obtained the consent of both the plaintiff and the defendant.
Internal financial statements and tax returns or amendments
The purpose of this submission is to confirm the terms of the engagement you have entrusted to me for the provision of accounting services and to describe the nature and scope of the services I undertake to provide under the terms of this engagement on an annual basis.
1. Liability
I will carry out my assignment on the assumption that you acknowledge and understand that the following responsibilities are incumbent upon you :
- You'll provide me with all the information I need.
- You will ensure the accuracy and completeness of the information provided. The services provided as part of this assignment are not intended to detect fraud or error.
- You will review and approve all journal entries, transaction classifications and account codes prepared or modified as proposed by me.
My assignment does not include the preparation of external financial statements or the filing of tax returns. If you wish to entrust me with either of these tasks, I will have to undertake a separate assignment.
2. Our services
Without limiting the scope of the services I will provide, I will prepare internal financial statements on an annual basis.
3.Information acces
In order to perform my duties, I require access to certain personal information. You hereby acknowledge that you have obtained all necessary consents under applicable privacy legislation to collect, use and disclose personal information to me. I will treat all personal information in accordance with my privacy statement.
4.Professional fees
Professional fees are set annually in accordance with the current fee schedule and financial terms and conditions
Fees do not include requests for corrections or representations to governments, which will be billed separately at the hourly tax rate, if required.
In addition, I will invoice you for all disbursements related to the mission.
5. Conditions
The terms and conditions of this quotation supersede any prior representations or undertakings, whether oral or written, by or between the parties. Any material change or addition to the terms and conditions contained in this quotation will be effective only if evidenced by a written amendment to this quotation, signed by all parties. At the end of this assignment, I will present you with an invoice for all fees and expenses not previously invoiced. You hereby agree to pay this invoice when you receive it.
I will be happy to discuss the content of the quotation with you, and to provide any explanations you may require. If the above conditions are acceptable to you, and if the services described correspond to what you expect of me, please indicate your agreement by signing the order form before I undertake the assignment.
The services set out in this quotation are what you would expect. The conditions set out above are acceptable to you and you agree to them by signing the order form.
Compilation missions - History
1. Purpose and scope of the compilation mission
You have asked me to assist you in the preparation, from information that you will provide, of the entity's compiled financial information, which comprises the balance sheet, statement of income and retained earnings for the year then ended and note 1, which describes the accounting policy to be applied in the preparation of the compiled financial information each year.
2. Intended use of compiled financial information
It is anticipated that the financial information will be used by the entity's management and by third parties, i.e. actual or potential lenders, for borrowing purposes. Third parties are in a position to request and obtain additional information from the entity..
I am pleased to confirm my acceptance and understanding of this compilation assignment.
3. Responsibilities of the practicing professional
I will carry out the compilation assignment in accordance with Canadian Related Services Standard (CSSS) 4200, Compilation Assignments, which requires that I comply with the relevant rules of professional conduct.
A compilation engagement consists of my assisting you in the preparation of compiled financial information. As a compilation engagement is not an assurance engagement, I am not required to perform procedures to verify the accuracy and completeness of the information you provide to me for the purposes of this engagement. Accordingly, I will not express an audit opinion or review engagement conclusion on the compiled financial information, nor will I provide any form of assurance in this regard.
My assignment does not include bookkeeping or tax filing services. If you wish to entrust me with either of these tasks, I will have to undertake a separate assignment.
4. Management responsibilities
The compilation mission is based on the assumption that you acknowledge:
- that third parties intending to use the compiled financial information are in a position to request and obtain additional information from the entity;
- a compilation mission is appropriate for the intended use ;
- that you understand that a compilation engagement does not satisfy any legal, regulatory or contractual requirement to perform an audit or review engagement ;
- that you understand that the compiled financial information should not be used by third parties other than those who are in a position to request and obtain additional information from the entity or who have agreed with you on the accounting method applied in the preparation of the compiled financial information.
In addition, you acknowledge that you assume responsibility for :
- Compiled financial information;
- the selection, for the preparation of compiled financial information, of the accounting method appropriate to its intended use;
- the accuracy and completeness of the information you provide to me;
- attach the compilation engagement report to compiled financial information when distributed or reproduced.
5. Information access
In order to perform my duties, I require access to certain personal information. You hereby acknowledge that you have obtained all necessary consents under applicable privacy legislation to collect, use and disclose personal information to me. I will treat all personal information in accordance with my privacy statement.
6. Professional fees
Professional fees are set annually in accordance with the current fee schedule and financial terms and conditions
Fees do not include requests for corrections or representations to governments, which will be billed separately at the hourly tax rate, if required.
In addition, I will invoice you for all disbursements related to the mission.
7. Conditions
The terms and conditions of this quotation supersede any prior representations or undertakings, whether oral or written, by or between the parties. Any material change or addition to the terms and conditions contained in this quotation will be effective only if evidenced by a written amendment to this quotation, signed by all parties. At the end of this assignment, I will present you with an invoice for all fees and expenses not previously invoiced. You hereby agree to pay this invoice when you receive it.
8. Report
Unless unforeseen difficulties arise, my report will essentially take the form described below:
COMPILATION REPORT
To management
Based on the information provided by management, I have compiled the entity's balance sheet as at the fiscal year-end date, the statement of income and retained earnings for the year then ended, and note 1, which describes the accounting method applied to repair the compiled financial information (the “financial information”»).
Responsibility for the accompanying financial information, including the accuracy and completeness of the underlying information used to compile it, and for the selection of accounting policies, rests with management.
I carried out the assignment in accordance with Canadian Related Services Standard (CSRS) 4200, Compilation Engagements, which requires that I comply with the relevant rules of professional conduct. My responsibility is to assist management in the preparation of financial information.
I have not performed an audit or review, nor was I required to perform procedures to verify the accuracy and completeness of the information provided by management. Accordingly, I do not express an audit opinion or a review conclusion, nor do I provide any form of assurance on the financial information.
Readers should bear in mind that financial information may not suit their needs.
I will be happy to discuss the contents of this quotation with you, and to provide any explanations you may require. If the conditions set out above are acceptable to you, and if the services described correspond to what you expect of me, please indicate your agreement by signing the order form before I undertake the assignment.
The services set out in this quotation are what you would expect. The conditions set out above are acceptable to you and you agree to them by signing the order form.
Compilation missions - Financial forecasting
Further to our discussion, I wish to summarize below my understanding of the terms and conditions of the assignment to compile the entity's financial forecasts, which will consist of a balance sheet as at the fiscal year-end date and statements of earnings, retained earnings and cash flows for the period ending on that date. It is understood that these financial statements, as well as the declaration that I will produce concerning them, will be used for any general or specific purpose.
1. My responsibilities
I will compile and produce my statement in accordance with the relevant guidelines set out in the CPA Canada Handbook - Assurance. The compilation will include the formatting of the financial forecasts based on management's assumptions, and the implementation of limited procedures that will consist mainly of my asking questions about the information provided and determining whether the preparation of the financial forecasts appears to be a manifest departure from the standards for financial forecasts set out in the CPA Canada Handbook - Accounting.
Due to the limited nature of my involvement, I cannot express an opinion or any other form of assurance on the financial forecasts or assumptions. Furthermore, since financial forecasts are based on assumptions relating to future events, actual results will differ from the information presented, and the differences could be material. I am not responsible for updating my statement to take account of facts and circumstances subsequent to the date hereof.
2. Report wording
I expect my declaration to read as follows:
NOTICE TO THE READER CONCERNING THE COMPILATION OF FINANCIAL FORECAST
CPA Canada Handbook - Certification.
The compilation is limited to the presentation, in the form of financial forecasts, of information provided by management and does not include an assessment of the elements supporting the assumptions and other information underlying the forecasts. Accordingly, I do not express an opinion or any other form of assurance on the financial forecasts or assumptions. Furthermore, since these financial forecasts are based on assumptions concerning future events, actual results will differ from the information presented, and the differences could be material. I have no responsibility to update this statement to reflect facts and circumstances subsequent to the date hereof.
3. Management responsibilities
Forecasts will be based on assumptions that management considers to be appropriate, i.e. reasonable and justifiable assumptions that reflect the most probable set of economic conditions and courses of action. If I discover that the assumptions provided are inappropriate, and that they are not revised to my satisfaction, I will be unable to complete my assignment and, consequently, I will not issue a statement regarding the forecasts. The entity agrees that the objective is to prepare the financial forecasts in accordance with applicable Canadian accounting standards. The assumptions and forecasts are the sole responsibility of the entity, its officers and directors.
The forecasts will be prepared in accordance with Canadian accounting standards for private enterprises (or Canadian accounting standards for not-for-profit organizations) and are consistent with the methods (or policies) that the entity expects to follow for the historical annual financial statements for the period covered by the forecasts. Unless otherwise indicated, these methods (or policies) will be the same as those used to prepare the historical financial statements at the fiscal year-end date.
It is understood that in the course of my assignment I will have access, to the extent that I deem necessary, to the entity's documents and accounts and to external sources of information used by management in developing assumptions (for example, external specialists consulted by the entity). It is also understood that each page of the financial forecasts will be prominently marked “Unaudited - see Notice to Reader”. Before I issue my statement on the compilation of the entity's financial forecasts, management will provide me with an appropriate letter of affirmation.
4. Confidentiality
The obligation of confidentiality concerning client affairs is one of the fundamental principles of the profession. Professional accountants are bound by professional secrecy with regard to information of a confidential nature that comes to their knowledge in the exercise of their profession. Consequently, I will not communicate to third parties any confidential information concerning the entity's affairs unless :
- to have received express authorization to do so with the prior consent of the latter;
- is required to do so or has been expressly authorized to do so by law or by the rules or Code of Ethics;
- the information requested is not or will not enter the public domain.
I understand that I will have access to all personal information in your custody that I may require to perform my duties. My services are rendered subject to :
- a declaration by you that management has obtained all required consents regarding the collection and use of personal information, as well as the fact that you will communicate this information to me, in accordance with applicable privacy legislation;
- that I will hold all personal information in accordance with my privacy policy
5. Use and distribution of my declaration
The financial forecasts that I am about to compile and the statement entitled “Notice to Reader” that I am about to issue are intended solely for the use of the persons I have specifically identified. I make no representation whatsoever to any third party regarding these financial forecasts.
6. Work files
The working files, files and other documents, reports and work created, designed or executed in the course of my assignment are my property, constitute confidential information and will be retained by me in accordance with my policies and procedures.
7. Applicable legislation
This tender is subject to the laws of the Province of Quebec. The Province of Quebec shall have exclusive jurisdiction over any claim, dispute or disagreement relating to this tender and any matter arising therefrom. Each party irrevocably waives any and all rights to object to the commencement of any action in such courts, to allege that the action was not brought in the proper forum, or to allege that such courts lack jurisdiction.
8. Conflict resolution
You agree to :
- before being submitted to a court of law, any conflict that may arise concerning the nature, execution or implementation of this mission be subject to a mediation process;
- to participate in good faith in the mediation process once one of the parties to the engagement has submitted a written request for mediation.
Any mediation undertaken as a result of this engagement will be administered in the province of Quebec, in accordance with its mediation rules, and any subsequent legal proceedings will be conducted in that province, in accordance with its laws. Decisions resulting from mediation will be enforceable only if each party agrees to abide by them. The cost of mediation proceedings will be shared equally between the parties involved.
9. Deadlines
I will make every reasonable effort to complete the assignment in accordance with the terms and conditions set out in this quotation and within the agreed deadlines. The agreed deadlines and dates can be found in the customer portal.
However, I will not be held responsible for any failure or delay due to causes beyond my control, including the entity's failure to meet its obligations in a timely manner.
10. Fees at standard hourly rates
Professional fees are set annually in accordance with the current fee schedule and financial terms and conditions
My professional fees will be based on my usual hourly rates, plus miscellaneous expenses incurred and applicable GST and QST, and will be payable upon receipt of invoice. Fees for other services will be established separately.
If the number of hours required turns out to be greater than anticipated, I'll be in touch with you to draw up a new estimate before incurring any additional costs.
My fees, which I invoice as the work progresses, are payable on receipt of the invoice.
11. Billing
My fees and costs will be invoiced monthly, and will be payable upon receipt of invoice. Invoices unpaid within 30 days of the invoice date may be considered past due, and will be subject to interest charges compounded monthly a taux according to the current quarter. I reserve the right to terminate my services or resign if any of my invoices are deemed to be past due. In the event that I need to take steps to collect any balances owing to me, you agree to reimburse me for any costs incurred in such collection, including legal fees, if any.
12. Termination of mission
Management acknowledges and understands that failure to fulfill its obligations as set forth in this submission will, upon written notice from me, result in termination of the engagement.
Either party may terminate this agreement for any reason by providing written notice to the other party. If early termination occurs, the entity will be responsible for time and expenses incurred up to the date of termination.
13. Conclusion
This quotation includes the relevant terms and conditions which will apply to the assignment for which it has been drawn up. The terms and conditions of this quotation supersede any prior representations or undertakings, whether oral or written, by or between the parties. Any material change or addition to the terms and conditions contained in this quotation shall only be effective if evidenced by a written amendment to this quotation, signed by all parties.
I will be happy to discuss the contents of this quotation with you, and to provide any explanations you may require. If the conditions set out above are acceptable to you, and if the services described correspond to what you expect of me, please indicate your agreement by signing the order form before I undertake the assignment.
The services set out in this quotation are what you would expect. The conditions set out above are acceptable to you and you agree to them by signing the order form.
Financial terms and conditions
1. Billing frequency and payment terms:
- For fixed-rate services, upon completion of work, i.e. after completion of tax returns or reports and upon request for incorporation or receipt of invoice for expenses.
- For hourly rate services, each week, for the hours worked during the week.
- In all cases, the invoice is payable on receipt.
- Interest will start to accrue from the invoice date if payment is not made within 30 days.
- In the event of default, interest is compounded monthly at interest rates prescribed by the Canada Revenue Agency according to the current quarter.
- I reserve the right to suspend my services or resign if any of my invoices are deemed to be overdue
- In the event that I need to take steps to collect any balances owed to me, you agree to reimburse me for any costs incurred in connection with such collection, including attorneys' fees, if any.
2. Accepted payment methods:
- Interac e-Transfer:
- E-mail: info@alexandremartel.ca
- Phone: 438-879-4466
- Bank transfer: information provided on request
3. Transmitting tax returns to governments:
- Income tax returns are only filed once a year:
- The payment received as proof of the customer's approval of tax returns and that
- Signed electronic transmission forms
- You will have to print the returns yourself and submit them on time in the event of late payment, and pay interest and penalties for late filing.
Bookkeeping
The purpose of this submission is to confirm the terms of the engagement you have entrusted to me for the provision of accounting services and to describe the nature and scope of the services I undertake to provide under the terms of this engagement on an annual basis.
1. Responsabilities
I will carry out my assignment on the assumption that you acknowledge and understand that the following responsibilities are incumbent upon you :
- You'll provide me with all the information I need.
- You will ensure the accuracy and completeness of the information provided. The services provided as part of this assignment are not intended to detect fraud or error.
- You will review and approve all journal entries, transaction classifications and account codes prepared or modified as proposed by me.
My assignment does not include the preparation of external financial statements or the filing of tax returns. If you wish to entrust me with either of these tasks, I will have to undertake a separate assignment.
2. Our services
I will perform bookkeeping to ensure that your books are in order. This includes general ledger, accounts receivable ledger, accounts payable ledger and payroll:
- Depending on frequency:
- Source deductions: Submit source deductions declarations online in my company file to Canada Revenue Agency (CRA) and Agence du Revenu du Québec (ARQ)
- Commodity taxes: Submitting tax returns in my company file to ARC and ARQ
- Records of Employment: Submit Records of Employment in my company file to Service Canada.
- Each month:
- Record banking transactions from the bank statements and deposit slips you provide me with.
- Record sales and taxes collected from the invoices you prepare.
- Enter any other transactions based on the information you provide.
- Update general ledger, accounts receivable ledger, accounts payable ledger and payroll book.
- Reconciling specific accounts.
- Every year:
- Reconciling balance sheet items and auxiliaries
- Carry out adjusting entries
- Prepare T4, T5, Relevé 1 and Relevé 3 slips and summaries
- Preparing the CNESST report
- Propose a budget for common expenses
3. Access to information
In order to perform my duties, I require access to certain personal information. You hereby acknowledge that you have obtained all necessary consents under applicable privacy legislation to collect, use and disclose personal information to me. I will treat all personal information in accordance with my privacy statement.
4. Professional fees
Professional fees are set annually in accordance with the current fee schedule and financial terms and conditions
Fees do not include requests for corrections or representations to governments, which will be billed separately at the hourly tax rate, if required.
In addition, I will invoice you for all disbursements related to the mission.
4. Conditions
The terms and conditions of this quotation supersede any prior representations or undertakings, whether oral or written, by or between the parties. Any material change or addition to the terms and conditions contained in this quotation will be effective only if evidenced by a written amendment to this quotation, signed by all parties. At the end of this assignment, I will present you with an invoice for all fees and expenses not previously invoiced. You hereby agree to pay this invoice when you receive it.
I will be happy to discuss the contents of this quotation with you, and to provide any explanations you may require. If the conditions set out above are acceptable to you, and if the services described correspond to what you expect of me, please indicate your agreement by signing the order form before I undertake the assignment.
The services set out in this quotation are what you would expect. The conditions set out above are acceptable to you and you agree to them by signing the order form.