Maxwell + Cameron, Certified Practising Accountants, Rockhampton, Queensland

OCTOBER 2017

Welcome!

Here is a joke for you. What is the definition of "accountant"? Someone who solves a problem you didn't know you had, in a way you don't understand. HAHAHAHA!

Lucky for you, we at Maxwell & Cameron Accountants take pride in making sure our clients understand the information we are providing to them.

WORK RELATED CAR EXPENSES (AND OTHER) CLAIMS!

As usual, the tax office have a couple of common tax deduction claims on their radar. They have indicated that they are paying special attention to work related deductions and for a lot of taxpayers, this includes claiming some car expenses for work related travel.

In most cases now, the tax office would expect to see a log book to confirm how work use of a vehicle has been calculated. They have even said, where vehicle expenses are 100% claimable (such as for a work ute), they would still need to see a log book to confirm private use of the vehicle is minimal and infrequent.

While keeping a log book is annoying (ask anyone with children learning to drive), without it, the tax office could disallow your vehicle expenses claim.

It's not just vehicle claims either - the tax office have advised that to prove the work use claim for other expenses (telephone expenses being just one), they would expect to see some sort of log book kept to show how you work out what percentage of your total cost is for work purposes.

If you have any questions about these items when you are getting your tax paperwork ready, please give us a call.

IT'S A BOY!

Congratulations to Angela and her partner Nick on the birth of their second child, Jack.

PASSING ON EFTPOS SURCHARGES

Anyone in business will know the charges imposed by banks on money received by EFTPOS, credit and debit cards can be quite high. Many businesses now add a surcharge for customers paying using these methods, however this practice has recently come under scrutiny by the ACCC.

While you can pass on your bank charges, the surcharge added must not be excessive - you can only charge what it costs.

To see information from the ACCC on this, go to link under 'In This Edition'. 

UPCOMING DUE DATES

This year seems to be flying by so quickly, so we thought it would be a great idea for you to know what is due between now and Christmas.

21 October 2017 - Annual PAYG Instalments

21 October 2017 - September Monthly Activity Statements

28 October 2017 - September PAYG Instalments

28 October 2017 - September Quarterly Activity Statements if not lodged through tax or BAS agent

28 October 2017 - Superannuation Guarantee for the quarter ended 30 September 2017 - your payments must be received by your Fund by this date.

31 October 2017 - 2017 Individual Income Tax Returns if not prepared through an accountant

31 October 2017 - 2017 Income Tax Returns if you have one or more years outstanding (you must also lodge the outstanding returns to be classified as lodging on time)

21 November 2017 -  October Monthly Activity Statements

25 November 2017 - September Quarterly Activity Statement lodged through tax or BAS agent

21 December 2017 -  October Monthly Activity Statements

Kind Regards 

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

In this edition:

ATO Homepage

ACCC Information regarding EFTPOS Surcharges

Check out Karlie's blog here

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).  

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