MDS Accounting & Financial Services

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 val

ue 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.

02/09/2026

Your side hustle already told the ATO about itself.

Under the Sharing Economy Reporting Regime, digital platforms report seller and transaction data to the ATO directly. Rideshare and short-term accommodation have reported since 1 July 2023, and the remaining categories since 1 July 2024. There is no minimum threshold, so a quiet year on Depop still shows up.

The upside is that genuine expenses connected to that income can generally be claimed. Matt's sister ran a Depop resale side hustle and claimed against packaging, stock, and the work-related portion of her phone and travel. Anything used for both private and income-producing purposes has to be apportioned, which is exactly where the ATO has said it will be looking this year.

A deduction reduces your taxable income, it does not refund the full spend. Someone in the $45,001 to $135,000 bracket faces 30% plus the 2% Medicare levy, so roughly 32 cents back per deductible dollar. Different bracket, different number.

If your side hustle income has grown past the point where you're confident handling it yourself, the MDS team can walk through what applies to your situation before you lodge.

📞 (03) 5333 3453
🌐 mdsaccounting.net.au

27/08/2026

SMSF season, expectation versus reality.

Every fund starts with a clean plan. Then October arrives and the bank statements are still "somewhere in the emails."

None of this means an SMSF is the wrong structure. It means trustee obligations run the whole year, not only at lodgement, and a fund treated as set and forget can drift into breach territory before anyone notices.

Annie has had this conversation more than three times. She'll have it again.

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.

Finance on screen is trading floors and someone slamming a phone down.Finance in real life is a Tuesday, and somebody on...
23/08/2026

Finance on screen is trading floors and someone slamming a phone down.

Finance in real life is a Tuesday, and somebody on page nine of the lease, checking what the outgoings clause actually says.

That person is the one who notices the loan account was never classified. Who asks what it was for, then asks again when the answer gets vague. Who tells you in January that the number you wanted is not the number you have, while there is still time to do something about it.

None of that makes a good scene. It makes a good year.

The person who says the inconvenient thing early tends to cost you less than the one who agrees with you.

31 October is the date most people know. It is the due date for lodging your own 2025-26 return. This year it lands on a...
20/08/2026

31 October is the date most people know. It is the due date for lodging your own 2025-26 return. This year it lands on a Saturday, so the practical cut off is Monday 2 November 2026.

The part fewer people know is what that date does if you use a registered tax agent.

If you are on a registered agent's client list before 31 October, your return generally falls under that agent's lodgement program, and the due date can extend well into the following year. In many cases that means 15 May 2027.

It is not automatic. It depends on your earlier lodgements being up to date. Turn up in March with two years outstanding and the extension usually is not available.

Which makes October less about lodging and more about being registered. If you already work with an agent, you are likely covered already. If you do not, registering is one quick step, and doing it before 31 October keeps every option open.

Book now to join the MDS client list before 31 October. Link in bio.

General information only. Your situation determines what applies to you.

18/08/2026

Looking for a man in accounting, must have:
✅ Calculator on hand at all times
✅ Strong opinions on spreadsheet formatting
❌ Height and eye colour not in the selection criteria
Meet the MDS team 👇

A change most property investors have heard about and very few have done anything with yet.From 1 July 2027, the 50% CGT...
16/08/2026

A change most property investors have heard about and very few have done anything with yet.

From 1 July 2027, the 50% CGT discount for individuals, trusts and partnerships is replaced. In its place, cost base indexation plus a 30% minimum tax rate on capital gains. Negative gearing on residential property is limited to new builds.

Both measures are law. They received Royal Assent on 26 June 2026, so this is settled with a start date rather than an announcement to watch.

Two things that haven’t changed are. First, the main residence exemption stays exactly as it is. Second, if you already owned a property at 7:30pm AEST on 12 May 2026, it keeps its negative gearing eligibility

The transition is the interesting part. The reforms apply to gains that accrue after 1 July 2027, which means a single asset can run under two different sets of rules across its life, split at one date. How the value at that date gets established depends on the asset, and detailed ATO guidance on the mechanics is still landing.

What this means for any particular asset depends on when you bought it, what it has done since, who owns it, and what you intend to do with it. There is no general answer, and anyone offering one on the internet is guessing.

General information only, current at the date of posting. It does not take your objectives, financial situation or needs into account. Seek advice specific to you before acting.

13/08/2026

Three reasons your 2025-26 return may not have looked like last year's.

1. The repayment rules changed. From 1 July 2025, compulsory study loan repayments moved to a marginal system, closer to how income tax already works. The threshold is $67,000 for 2025-26, up from $54,435. Above it you generally pay 15c in the dollar between $67,000 and $125,000, with a higher rate above that. Under the old system, crossing a threshold applied one rate to your entire income, so a small pay rise could cost a surprising amount. That cliff is gone.

2. Your balance moved twice. A one-off 20% reduction was applied to study loan balances as they stood on 1 June 2025, and indexation of 2.8% was applied on 1 June 2026. If you checked your balance across the year and got different answers, that is the reason.

3. Two jobs, two blind spots. Each employer withholds as though theirs is your only income. If neither job clears $67,000 on its own but together they do, neither one withholds for your loan, and the amount is worked out on the combined figure when you lodge. The same logic applies to the tax free threshold if it was claimed at both jobs.

None of that means anyone made a mistake. Every payer calculated correctly on the only information they had.

If the number surprised you, the fix is usually a withholding change for the year ahead rather than anything to do with the return itself.

General information only. Your circumstances determine what applies.

Ten years is forty BAS quarters, ten sets of books closed, and a number of tax returns nobody has counted.Brad Martin ma...
11/08/2026

Ten years is forty BAS quarters, ten sets of books closed, and a number of tax returns nobody has counted.

Brad Martin marks ten years at MDS, as Partner and Client Manager out of our Ballarat office.

A decade is long enough to have watched a fair bit arrive. Single Touch Payroll in 2018, then again for smaller employers in 2019, with every one of them needing to be walked through it. March 2020, when JobKeeper turnover tests were worked out client by client, quickly, with a great deal riding on getting them right. Interest rates going about as low as rates go, then climbing back. Enough legislative change since 2016 that listing it properly would run longer than this caption.

What that leaves behind does not show up on a CV. People rarely ring their accountant about a form. They ring because something has happened, and they would rather explain it to someone who already knows the background. A decade is roughly how long that takes to build.

Thank you, Brad. From all of us.

If you pay staff, the super rules changed at the start of this financial year, and the change is bigger than it sounds.F...
09/08/2026

If you pay staff, the super rules changed at the start of this financial year, and the change is bigger than it sounds.

From 1 July 2026, super is paid on the same cycle as wages. Weekly payroll means weekly super. The quarterly option is gone.

The number to remember is seven. Contributions generally need to reach the employee's fund within seven business days of pay day. Reaching the fund, not leaving your account, which matters because clearing houses sit inside that window. For a new employee's first contribution to a fund, the allowance is longer, generally 20 business days.

If the window is missed, the super guarantee charge applies. It is assessed by the ATO, it carries daily compounding interest plus an administrative component, further penalties can apply on top, and it is generally not deductible.

Most of the work here is a payroll settings job and a cashflow job, and August is the comfortable time to get both right. Check the software is configured for the new timing, and that the money is timed to be there every pay run. Get it settled now and the rest of the year runs itself.

Book a payroll health check with MDS. Link in bio.

General information only. Your obligations depend on your circumstances.

Most people describe a tax return as data entry. Names, numbers, boxes. If that were the whole job, myGov would be enoug...
06/08/2026

Most people describe a tax return as data entry. Names, numbers, boxes. If that were the whole job, myGov would be enough for everyone, and for plenty of people it is.

A prepared return asks the second question, and the second question is where the value sits.

Whether the laptop you bought in March is better claimed now or written down over its effective life. Whether your work from home hours are recorded well enough to hold up. Whether the second job you picked up in February has your withholding set the smart way. Which financial year that late-June invoice really belongs to.

Good answers to those come out of a conversation, and the earlier it happens, the more options are still open. The typing is the last ten minutes.

One more thing worth knowing: what a registered agent charges to manage your tax affairs is generally deductible in the following year's return.

Book your 2025-26 return with MDS. Link in bio.

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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