February 2013

Welcome to the February edition of The MAX CAMmunicator. It is hard to believe we are already heading into March!!

We hope you haven't been too badly affected by the recent wet weather. There are many charities at the moment taking donations to help those who have been affected by the recent weather events. Don't forget most monetary donations you make over $2 are tax deductible (you can check an organisation's tax deductibility status by visiting www.abn.business.gov.au). Also, the Commissioner of Taxation has the discretion to provide relief from substantiating small expenses, including donations up to $10 made to 'bucket appeals' without the usual need to keep a receipt. For more information click here.

This month features Part 2 of our Cloud series and the online accounting solutions available from QuickBooks and MYOB. You can also check out a sneak peek from our Superannuation Fund seminar held earlier this month.

Don't forget if you are interested in featuring as our Business of the Month, contact Sam our friendly Receptionist now!!

Missed Our Super Fund Seminar?

Earlier this month we held a Superannuation Fund Seminar to go through some very important changes that have been occurring on the superannuation front in the last six months. Topics included:



• Refund of excess contribution changes
• Contribution caps and minimum pension %'s for 2012/2013 and 2013/2014
• Market valuation changes
• Administrative penalties for trustees
• Banning off market transfers
• Insurance consideration
• Documentation and regular review of investment strategy
• 
  

Click here for a sneak peek.

If you were unable to attend, we encourage you to make an appointment with us as some of the changes can impact the personal financial position of fund trustees. For more information please contact our office on 4928 0995.

Feature Article - Moving into the cloud

Over the last couple of years, cloud computing has become a hotly discussed topic. There are countless numbers of applications and software programs that can operate online, on any device.

Small businesses are certainly primed to benefit from cloud technology. It offers more agility, greater flexibility and improves how information is shared with stakeholders. One of the most vital tools for any SMB is accounting software, and many businesses have benefited enormously from moving their accounting software into the cloud.

Two of the most used accounting software packages in the market today come from QuickBooks and MYOB. These two programs have now branched out to cloud based software that people can access securely across the web. You get complete accounting with the convenience of being able to access your data file anywhere, anytime over the internet.

QuickBooks Hosted receives many praises for its ease of use because you get the same features you have in the standard desktop version. More importantly, with the online version, you can access it from anywhere - all that is required is Microsoft Internet Explorer 7 or higher, Mozilla Firefox v9 or Google Chrome and a broadband internet connection. The Premium version is also compatible on Mac, iPad and Android devices.

Your QuickBooks Hosted company file can also be downloaded and worked on using your QuickBooks Enterprise desktop edition, a great backup if your online connection is unavailable for any reason (Premium version only).

Like the QuickBooks version, MYOB LiveAccounts gives you access to your accounts, invoices and payroll - anywhere, anytime.

LiveAccounts can also link to your bank accounts and credit cards so transactions are automatically and securely transferred from more than 100 financial institutions across Australia & New Zealand. Once your accounts are linked, LiveAccounts will automatically bring your bank transactions in and allocate them to the right account or match them to the right invoice or expense, so you don't have to. We have been advised QuickBooks Hosting will also have the option of bank feeds by September.

With both QuickBooks Hosting and MYOB LiveAccounts, you can have multiple users working from multiple locations simultaneously e.g. as your accountants we could view and adjust your accounts without interrupting your work flow - improving efficiency and collaboration.

You will also receive all product updates and upgrades, so you will always have the latest version of your software and tax tables at your fingertips. Both online options are cheaper than the desktop versions with an annual fee paid to the relevant software provider.

If you would like more information on either of these online accounting solutions, please contact Kyla.

Check out this article - Cloud computing - who's doing it?

Business of the month

Our February client of the month is Chris Fisher & Associates who offer pure and effective visual communication solutions. To help you tell your story, they offer a complete service from the innovative creative concept through to the final production and distribution.

With their unique blend of creative production and advertising services, they've developed hundreds of clients, all with different needs. From large industrial ventures to small retail outlets, they still apply the same passion, skill and personal service.

For more information visit Chris Fisher & Associates at www.chrisfisher.com.au   

www.maxcamaccountants.com.au

GET THE WORD OUT!!! Maxwell & Cameron are looking for an experienced Senior Tax Accountant as well as a Junior Accountant. If you have worked in a tax environment and are looking for a change, we would love to hear from you. Or, if you are completing your accounting degree and would be interested in working while studying, you can also apply.

We offer a friendly, modern work environment with flexible working conditions. It's not just about lodging tax returns; you will also work directly with our fantastic clients, assisting them with their business, taxation and accounting needs.

If you are interested in working with a diverse range of clients across many different industries; where someone recognises and rewards your efforts and provides a fun, satisfying and safe workplace email us at kyla@maxcamaccountants.com.au. Or, if you know someone who might be interested in working with us ....spread the word.

It is hard to believe we are nearly three quarters of the way through the financial year. With that in mind, businesses should start thinking about their tax planning. Many strategies need to be organised before 30 June in order to be effective. Over the next couple of months, we will look at a number of tax planning considerations that could be of a significant benefit, so watch this space.....

To register for our secure area Client Login, click here.

You can keep up to date with important accounting and business dates and deadlines. More...

The Tax Facts section where you can learn more about tax requirements within Australia. More... 

Try out our new online calculators. More... 

You can also organise an appointment with one of our staff via our special online appointment form. This is particularly useful if you struggle to find the time during normal business hours to phone. Click here to book an appointment.