MDS Accounting & Financial Services

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MDS Accounting & Financial Services MDS Accounting is an Australian accounting and advisory firm helping businesses and individuals build strong financial foundations.

We provide expert support across tax, BAS and GST, financial reporting, business structuring, and strategic advisory. MDS Accounting and Financial Services realise the demand from businesses and individuals for a more specialised and proactive accounting services offering, more than mere compliance and taxation. At MDS Accounting & Financial Services, we are continually looking to provide more value to our clients by assisting in all matters of business, financial, personal and strategic. We provide services that position us as valuable partners with our clients and their businesses. We recognise that service delivery is built around relationships and trust, we hope to play an integral role in the success of our clients. Our Mission:
Every-day we assist every client to achieve greater success by helping them to move from where they are now to where they want to be by helping them to;

Legally minimize taxation
Increase profits and earnings
Reduce operating costs and expenses
Build and protect wealth

Our Vision:
To become our clients’ trusted advisers and play a key role in assisting them to achieve their goals in all things financial.

For years, the $20,000 instant asset write-off was set one year at a time, and extensions sometimes arrived at the last ...
22/10/2026

For years, the $20,000 instant asset write-off was set one year at a time, and extensions sometimes arrived at the last minute. The 2023-24 threshold, for example, only became law on 28 June 2024, two days before that year ended.

That's changed. From 1 July 2026, the $20,000 threshold is permanent for small businesses with aggregated turnover under $10 million.

How it works:
- The limit applies per asset, so several assets can each be written off.
- The asset needs to be first used or installed ready for use in the income year you claim it.
- Assets costing $20,000 or more go into the small business pool, depreciated at 15% in the first year and 30% after that.

It's a deduction against your income, so the business still spends the money. What's different now is the timing: with the rule settled, equipment can be bought when the business actually needs it, rather than in a June rush.

The information provided is general in nature and does not constitute financial or taxation advice. It does not take into account your individual objectives, financial situation or needs. You should seek professional advice tailored to your circumstances before acting.

If you're weighing up a purchase, book a time with MDS, link in bio.
📞 03 5333 3453
🗓️ mdsaccounting.net.au/contact-us

💙 The MENtal Brekky 2026 💙Join us on Friday, 23 October, from 7:00am–8:30am at St Patrick’s College for an important mor...
22/10/2026

💙 The MENtal Brekky 2026 💙

Join us on Friday, 23 October, from 7:00am–8:30am at St Patrick’s College for an important morning focused on men’s mental health and raising funds for the Chris Yeung Fund.

This year, we’ll hear from special guest speaker Sean Bell, world-record ultra-runner and resilience and leadership speaker, who ran an incredible 13,383km around Australia in just 158 days! 🏃‍♂️

Sean will share his powerful story of resilience, mental health, purpose and overcoming challenges.

Let’s come together to break down stigmas, start important conversations and support men’s mental health. 💙

📍 St Patrick’s College
📅 Friday, 23 October 2026
⏰ 7:00am–8:30am

Interested in attending? Let us know so we can organise the table!

BreakTheStigma

Most clients get to know one or two of us. Here's everyone else.Directors and partners, accountants, our SMSF team, and ...
20/10/2026

Most clients get to know one or two of us. Here's everyone else.

Directors and partners, accountants, our SMSF team, and cadets learning the job from the ground up. Between them, they look after the tax, books, super funds and plans of clients across our five offices in Victoria and Queensland.

Next time you're in, say hello.

The 2026-27 Federal Budget was handed down on 12 May. Since then, most of its headline tax measures have become law, whi...
18/10/2026

The 2026-27 Federal Budget was handed down on 12 May. Since then, most of its headline tax measures have become law, while a few are still proposals. Here's where they stand.

Law, and running from 1 July 2026:
- The $1,000 instant deduction for work expenses, first claimed in your 2026-27 - return.
- The $20,000 instant asset write-off for small businesses with turnover under $10 million, now permanent.
- Tax loss carry-back for eligible companies.

Law, and starting 1 July 2027:
- The $250 Working Australians Tax Offset.
- Negative gearing limited to new builds. Property held at 7:30pm AEST on 12 - May 2026 is grandfathered.
- The 50% CGT discount replaced by cost base indexation, with a 30% minimum rate on gains accruing after that date.

Still proposed:
- A 30% minimum tax on discretionary trusts, from 1 July 2028.
- Opt-in monthly PAYG instalments.
- Changes to the FBT electric car discount.

Proposals can change, or may not pass at all, so these are worth watching rather than acting on.

The information provided is general in nature and does not constitute financial or taxation advice. It does not take into account your individual objectives, financial situation or needs. You should seek professional advice tailored to your circumstances before acting.

To work out which of these touch your own plans, book a time with MDS, link in bio.
📞 03 5333 3453
🗓️ mdsaccounting.net.au/contact-us

You may have seen headlines about a new tax on family trusts. Here's where it actually stands.The government has propose...
15/10/2026

You may have seen headlines about a new tax on family trusts. Here's where it actually stands.

The government has proposed a 30% minimum tax on certain discretionary trusts, starting 1 July 2028. It was announced in the May Budget, and Treasury released draft legislation on 3 September 2026. Public consultation closed on 18 September.

It is a proposal, not law. The draft also includes an expanded roll-over window, proposed to run for three years from 1 July 2027, for trusts that choose to restructure into another type of entity.

What that means for now: nothing applies today, and the final rules may still change before anything is passed. There's time to understand it properly, and no need to act on a headline.

Once the rules are final, it's worth reviewing your structure with your accountant.

The information provided is general in nature and does not constitute financial or taxation advice. It does not take into account your individual objectives, financial situation or needs. You should seek professional advice tailored to your circumstances before acting.

If you have a family trust and want to talk it through, book a time with MDS, link in bio.
📞 03 5333 3453
🗓️ mdsaccounting.net.au/contact-us

We're hiring: Client Services Manager, Ballarat. Full time, immediate start.MDS has looked after Ballarat businesses sin...
12/10/2026

We're hiring: Client Services Manager, Ballarat. Full time, immediate start.

MDS has looked after Ballarat businesses since 2004. We are now 40 plus people across Ballarat, Melbourne, Bendigo, Brisbane and the Gold Coast, with head office at 702 Sturt Street. This role sits in the Ballarat team and reports to one of our partners, Alex Richardson.

Our accountants prepare the tax returns and financials. The Client Services Manager keeps that work moving: the paperwork is right, the client hears from us, and nothing sits waiting.

Day to day, that means preparing BAS, IAS and tax letters, collating financial reports and returns, monitoring job flow in Xero Practice Manager, issuing tax authorities and engagement letters through Adobe Sign and following them up, lodging returns and recording client events in FYI, chasing information and booking appointments with clients, monitoring ATO reports and liaising with the ATO, plus team invoicing, reporting and budget management.

We are after someone with client services or admin experience in an accounting firm, or strong admin experience from elsewhere and the willingness to learn the technical side. Accuracy matters, because this role is full of small details. So does good writing, since you will correspond with clients, the ATO and other agents every day. We want a person who works well without close supervision, speaks up when they see a better way, and backs up the people around them. Experience with Xero Practice Manager, Xero Tax, FYI, Adobe Sign or NowInfinity is an advantage rather than a requirement. We will train the right person.

Hours are 8.30am to 5.00pm, Monday to Friday. We run monthly social club events, invest in ongoing training with support for study, and we are growing, so there is real scope to grow with the firm.

To apply, send your resume and a short cover letter to Mayley Clarke. Her contact details and the full ad are on SEEK. If you would like to know more before applying, call Mayley. We review applications as they come in, so early is better.

https://www.seek.com.au/job/94969332

Lodging your 2025-26 tax return this month? The new $1,000 standard deduction isn't part of it. It applies from the 2026...
11/10/2026

Lodging your 2025-26 tax return this month? The new $1,000 standard deduction isn't part of it. It applies from the 2026-27 income year, which started on 1 July, so it's first claimed in returns lodged from July 2027.

Here's how it will work. Australian tax residents who earn income from work can claim a standard deduction of up to $1,000 for work-related expenses, with no receipts needed.

It's a deduction, not a refund. It reduces your taxable income, so what it's worth depends on your tax rate. The government estimates about 6.2 million workers stand to benefit, with an average tax saving of $205.

If your work expenses come to more than $1,000, you can still claim the actual amount, as long as you have the records.

Donations, union and professional fees, income protection premiums and investment expenses can still be claimed on top.

So the decision you make this year is about records. If you work from home, buy your own tools or travel for work, keep the diary and the receipts, and the choice stays yours next July.

The information provided is general in nature and does not constitute financial or taxation advice. It does not take into account your individual objectives, financial situation or needs. You should seek professional advice tailored to your circumstances before acting.

To see which option is likely to suit you, book a time with MDS, link in bio.
📞 03 5333 3453
🗓️ mdsaccounting.net.au/contact-us

Tax law hasn't stood still this year: a Federal Budget in May, new tax laws passed in June and August, and draft legisla...
08/10/2026

Tax law hasn't stood still this year: a Federal Budget in May, new tax laws passed in June and August, and draft legislation for a proposed trust tax in September.

Keeping up is part of the job. The Tax Practitioners Board requires registered tax agents to complete at least 120 hours of continuing professional education over each three-year registration, and at least 20 hours every year.

That's why the team still makes time to study. When the rules change, the reading starts again.

Some years are simple. Others bring a new job, a rental property, an investment sale or a side business, and each of tho...
06/10/2026

Some years are simple. Others bring a new job, a rental property, an investment sale or a side business, and each of those can change what goes in your tax return.

A few examples from the ATO:
If you sold shares, crypto or an investment property, any capital gain needs to be declared.
If you earn rent, the full amount goes in your return, and many related expenses may be claimable.
If you changed jobs, you'll need the income statement from every employer you had during the year.

If 2025-26 was a big year for you, it can be worth having a registered tax agent go through it with you. New to MDS or switching accountants? Contact us before 31 October to be part of our lodgment program.

Book a time with MDS, link in bio.
📞 03 5333 3453
🗓️ mdsaccounting.net.au/contact-us

From 1 July 2026, accountants became part of Australia's anti-money laundering and counter-terrorism financing laws, ove...
04/10/2026

From 1 July 2026, accountants became part of Australia's anti-money laundering and counter-terrorism financing laws, overseen by AUSTRAC. The rules apply to certain services, and they change what the first meeting looks like for those.

If you ask your accountant to help set up or restructure a company or trust, buy or sell a business or property, raise finance for a business, or hold money for a transaction, you can expect to be asked for identification. For companies and trusts, that usually includes who owns and controls them.

Your tax return, bookkeeping and general accounting advice aren't covered by these rules, so those appointments stay the same.

Every accountant offering these services has the same obligation. The aim is to make it harder for criminals to use professional services to move money. Having your ID ready, along with the details of any company or trust involved, makes the first meeting quicker.

The information provided is general in nature and does not constitute financial or taxation advice. It does not take into account your individual objectives, financial situation or needs. You should seek professional advice tailored to your circumstances before acting.

If you're planning a new structure, or a business or property purchase, book a time with MDS, link in bio.
📞 03 5333 3453
🗓️ mdsaccounting.net.au/contact-us

Address

702 Sturt Street
Ballarat, VIC
3350

Opening Hours

Monday 8:30am - 5pm
Tuesday 8:30am - 5pm
Wednesday 8:30am - 5pm
Thursday 8:30am - 5pm
Friday 8:30am - 5pm

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