June 2014
The end of the financial year always seems to crop up faster than it should.  Understanding what you could do before and after 30 June 2014 can provide the icing on the cake for employees, investors and those in small business.

With less than 2 weeks until June 30, it is time to think about pre year end strategies:

  -  Have you budgeted for your 2014 tax bill?
  -  What can you do to minimise your tax before the end of the financial year?
  -  Are there any new laws coming into affect which will apply to you?
  -  Do you need help with cashflow forecasting?

Let us help you start the new financial year on a positive note. Such things as bringing forward tax deductions or delaying the receipt of income within the rules can mean less tax this year.

Important Year End Reminders:

-  Superannuation Fund clients need to ensure they have met minimum pension withdrawal requirements by 30 June
-  See our tips on how to reduce your Tax Bill
-  Superannuation Guarantee Contribution rate increases to 9.5% on 1 July
-  Businesses paying wages need to ensure PAYG Payment Summaries are distributed to their employees no later than 14 July
The Taxable Payment Annual Report (for Building & Construction Industry clients) for the 2013/14 is due for lodgement on 21 July

Workflow scheduling for the new financial year is happening right now and unless we have already spoken to you, you will have a similar tax month to last financial year. Again, salary and wage clients, will not be sent a tax month letter, but please take advantage of our online services.  You can upload your documents to us via our secure client area, or complete the Personal Tax Checklist and upload your supporting documents by clicking here.

Audit Shield Service

All clients will soon be receiving letters for our audit shield service, inviting you to renew your insurance, or take up insurance which provides cover for your latest lodged return and all previous years' lodged returns.

Should you be subject to an Audit, Review or Investigation instigated by the ATO or any other government agency (e.g. WorkCover), there is the requirement to respond to queries and provide information to explain your position. Even if no discrepancies are found, the costs directly related to us attending to an audit can be significant.

A couple of our clients were subject to ATO audits during this financial year and those clients that did have cover with our audit shield service had the peace of mind of not having to worry about unbudgeted for professional fees.

Privacy Policy

To comply with recent changes to privacy legislation, we have updated our Privacy Policy.


Here at Maxwell & Cameron Pty Ltd, we've always taken your privacy seriously, and that hasn't changed. However we're now being more transparent in relation to how we handle personal information received, how we collect it, where it is kept, and who we share it with.


View our Privacy Policy by clicking here.
Featured Business

Our June featured client is Rockhampton Chiropractic Clinic.

Located in Phillips Street, North Rockhampton, Rockhampton Chiropractic Clinic is open 6 days a week for all of your chiropractic requirements. Owner and operator John Hobson, has been practicing as a chiropractor for over 45 years. Also part of John's team is Jocelyn Olsson, who has a special interest in the benefits of chiropractic care during pregnancy and early childhood.

If you suffer from neck pain, back pain, headaches, a sports or work related injury, give Rockhampton Chiropractic Clinic a call on 07 4928 6122.

Kind Regards
The Team
Maxwell & Cameron Pty Ltd

In this edition:

Superannuation Year End Planning for 2014

ATO to gradually phase out Paper Activity Statements

Claiming the Net Medical Expenses Offset in your 2014 ITR

ATO targeting work related claims for computers, mobile phones and electronic devices
ATO to data match eBay transactions

Tips to reduce your Tax Bill

Fuel Tax Credit Changes from 1 July 2014

2014 Individual Income Tax Return Checklist            

Website Interactive Services

Client Secure Area

Our website offers you interactive services where you have access to your own password protected secure area to send us files and documents or view your personalised documents such as tax returns or benchmarking reports.

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

We love referrals

We are committed to providing a comprehensive range of practical accounting services for today's economic environment to enable our clients to realise their goals – we make it our business to make your business more successful! If you appreciate the service we offer, the greatest compliment you can pay us is by referring people whom you feel would benefit from the use of our services. Don't forget to let us know if you make a referral so we have the opportunity to show our appreciation.

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Contact Details

82 High Street, North Rockhampton, QLD 4701 
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(07) 4928 0995


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