The MAX CAMmunicator MARCH 2016

MARCH 2016

Welcome to our first newsletter for 2016!

Christmas and New Years has come and gone so quickly it is hard to believe that Easter is already upon us. The next few months will be busy as the countdown to the end of year begins and everyone is trying to get their 2015 returns lodged before the final due date of 15 May 2016. Don't forget if you are not up to date with your lodgements get in contact with us to get it all sorted before it is too late!

BEAT THE BUDGET! ACTION NEEDED NOW

It has been a while in the pipeline but over the last few years the government has slowly been taking steps to prevent accountants from providing superannuation or retirement advice to their clients.


Maxwell and Cameron have been on the front foot in dealing with these changes. We have made sure we obtained the necessary licensing and training requirements and have held these for some years now.


We can therefore announce that we can continue to offer superannuation and retirement advice to our clients from 1 July 2016 despite the government's removal from that date of the exemption accountants had for advising their clients on these matters.

We have completed our training and registrations so we are fully licensed to provide you with superannuation related advice.


Planning for retirement can never start too early and we can provide sensible, practical advice on reaching this milestone.

Act now.

Professionals in the superannuation industry are advising us the government will be making changes to Transition to Retirement Income Streams in the forthcoming budget, to be handed down on 3 May 2016.

These changes will mean members accessing these income streams will need to reduce working hours in order to qualify for this type of pension.

Indications are these changes will take effect from budget night, which means if you are eligible to commence a Transition to Retirement Income Stream, you need to do so now if you want to access the benefits without having to reduce your working hours.

There can be tax saving and cash flow benefits from starting this type of pension if you are aged over 55. We can help you work out if this is advantageous to you. 

Please call us to discuss this as delaying may be detrimental to your financial situation.

FRINGE BENEFITS TAX

The end of March brings with it the end of the FBT year. This means that entities who need to lodge an FBT return will need to do so and pay any FBT liability by 23 May 2016.


A fringe benefit is an extra benefit that supplements an employee's wage or salary. This can be in the form of a company car that is made available for private use or providing entertainment to your employees. If you are unsure whether you have any FBT liability or need assistance in preparing your annual FBT return please contact us and we will be more than happy to assist you in working out your FBT obligations.



We have compiled some helpful articles which can be accessed via the links in the top right of this newsletter to provide some more information on any potential FBT liability.

ELEVATE

This month we will be launching our new newsletter, Elevate. Elevate is a newsletter with information specifically for our business clients and will be automatically sent to our business clients each month. If you do not receive a copy of this newsletter but would like to please email us and we will add you to the mailing list.

Kind Regards 



The Team
Maxwell & Cameron Pty Ltd
www.maxcamaccountants.com.au   

In this edition:

Did you know we offer $0 upfront Tax Returns?

That's right - absolutely no upfront cost to prepare your tax return and your refund is paid directly to your bank account. Come and see our friendly team to find out how (conditions apply).  

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.

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.

If there are other people you know who would like to subscribe to our newsletter, they can sign up by visiting our website.

HAPPY EASTER!

We would like to wish all our clients a happy Easter and safe travels over the long weekend.

Share by: