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Galley Associates

Phone: +61 433 482 121

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23.01.2022 The value of a good education is widely accepted, and it is a common experience over ones working lifetime to find that further learning is required along the path of ones chosen career. Changing technology and evolving workplaces means an educational re-boot is necessary. Australias tax system is set up to provide some breaks to help the motivated among us get ahead. To be able to claim certain expenses relating to self education your present employment and the course you... undertake must have sufficient connection for the self-education expenses to qualify as a work-related tax deduction. Expenses you can claim Here are some expenses that you can claim related to your eligible self-education: Course Fees Accommodation and meals (if away from home overnight) Computer consumables for example, printer cartridges Decline in value for depreciating assets (cost exceeds $300) Purchase of equipment or technical instruments (costing $300 or less) Equipment repairs Interest Internet usage (excluding connection fees) Parking fees (only for work-related claims) Stationery Student union fees Textbooks Home study expenses Note that the legislation specifically disallows the following expenses related to self-education such as HECS-HELP If you are planning to start some education and have some doubts, feel free to talk to us. . . . . #education #educationmatters #learning #motivation #australiantax #experts #life #smallbusiness #accountant #melbourne #mindset #goals #selfgrowth #promotion #galleyassociates #femaleentrepreneur #business

22.01.2022 You #focus on your #business we #focus on your #wealth #management . . . .... . #financialfreedom cialfreedom #success #melbourneaccountants #services #galleyassociates #lettheexpertsdeliverforyou #melbourne #portfoliomangement #smsf #investment #gst #finance #supportingbusiness See more

22.01.2022 The team of Galley Associates is delighted to be part of this event and Good Luck to organisers :) with Manpreet Galley Gill Navneet Karan Randhawa Rajdeep Grewal Shina Patel

22.01.2022 An economic system in which assets or services are shared between private individuals, either for free or for a fee, typically by means of the internet. Source: Oxford English Dictionary Sharing economy is the term used for the activity that connects users and providers via internet (App or website). popular services includes Uber, Gocatch, Ola, Didi Airbnb, Stayz, TaskRabbit, Airtasker, JustPark OneFlare These different apps or websites are attracting many individuals... to utilise their free time or Skills or unused assets to generate additional income. But this brings the question of GST, Income Tax and CGT. Are you aware about the claimability of expenses incurred to earn this income? DM us today to see how can we help you . . . . . . #taxplanning #Shareeconomy #Renting #Showyourstyle #thefutureofwork #businesstax #Familybusiness #budgeting # taxtime #workingwithyou # #taxrefund #accounting #smallbusiness #supportingbusinesses #relax #local #claytonaccountants #melbourneaccountants #incometax #motivation #Airbnb #uber ##success #Galleyfamily #Community #sharing See more

22.01.2022 Successfully completed 1st year in city . . . .... . . #success #achievement #melbourne #melbourneaccountant #city #citylife #smallstepstosuccess #galleyassociates See more

22.01.2022 We would like to let our customers know in this difficult moment: - they can send us their questions online at any time and we will try to answer their questions as soon as possible - our accountants will work remotely. Our office is closed for face to face meetings... - let us comfort you that your lodgements will be on time In this period of Emergency, we want to reassure our clients that: - They can contact us Online/via phone anytime of the day during business hours and we will try to answer your queries as soon as we can. - All the Govt announcements will be provided to you via our all Social Media channels Please contact us @0433 482 121 or email: [email protected] for any queries.

21.01.2022 Salary or Dividend? Which is better It is not an easy decision to take, one solution does not fit all, some situations may require hybrid approaches. The decision depends upon your current needs and future plans. It,s always a good idea to talk to your advisor before you decide. . .... . . . . #dividend #budget #wealth #tips #finance #financialplanning #money #investing #business #supportingbusinesses #galleyfamily #success #motivation #goals #life #claytonaccountants #melbourneaccountant #financialfreedom #invest #profit #businessadvisor See more

21.01.2022 Another interesting and busy day in #cbdoffice #corporate #melbourneaccountant #taxaccounting #accountants @ Galley Associates

21.01.2022 APPOINTMENT DIARY OPEN NOW! As you are aware this is a special privilege for our valued existing clients. You can book your desired slot now before it starts getting busy. Contact us on 03 85104758 or 0433 482 121 or email us on [email protected] or book online on our website www.galleyassociates.com

21.01.2022 Want to achieve tranquility and balance in work and life. We can help you in the journey and we will take the burden of Tax and GST from you. So you can focus on your goals, dreams and family. Our team is more than happy to help you. DM us today to see how can we help you . . . .... . . #taxplanning #businesstax #Familybusiness #budgeting # taxtime #workingwithyou # #taxrefund #accounting #smallbusiness #supportingbusinesses #relax #local #claytonaccountants #melbourneaccountants #Payroll #incometax #motivation #success See more

21.01.2022 Another accreditation achieved Now we can refer you to experienced Comm Bank lending specialist for your personalized home loan needs. . . . .... #achieve #achievement #proud #smallbusiness #businesslife #recognition #commonwealthbank #success #homeloan #affordable #can #refinance #galleyassociates #melbourneaccountants #accountants #wealthbuilding See more

21.01.2022 A big business starts small #galleyassociates #accountants #melbourneaccountants #tax @ Galley Associates

20.01.2022 To all our valued clients, your comfort and safety is our main priority. We are closely monitoring the circumstances and government recommendations regarding COVID-19. We are closely monitoring the government and industry advice, and have made some changes in how we operate under their best guidance. We are taking online appointments (via Zoom, Google meets, Facetime and Whatsapp) at this stage and we will update you soon once we are back to face to face meetings... During this time, we will do everything in our power to keep our team and our clients safe. Thank you for cooperation, take care and be safe #covid-19 #galleyassociates

20.01.2022 Time to sort out your bills, get ready for the quarterly reporting. #gst #september #galleyassociates #claytonaccountants #melbourneaccountant #bookingsopen

19.01.2022 A quick reminder that the team is now back on deck after a well-deserved Christmas break. Things are back in full swing and we are ready to work with you and your business to achieve the best results in the 2nd half of this financial year. #taxplanning #taxtime #budgeting #smallbusiness #workingwithyou #bookkeeping #taxreturn #incometax #businesstax #accountants #cbdaccountant #galleyassociates #femaleentrepreneur #womeninbusiness

19.01.2022 New year. New feels. New chances. Same dreams. Today is where your book begins. The rest is still unwritten. WELCOME 2021 . . . #2021 #newyear #startfresh #goodvibes #bye2020 #galleyassociates #1of365

17.01.2022 The Australian Government announces $66.1Bn second stimulus package This additional support boosts the first round of stimulus measures, which were announced by the Government on 12 March 2020. Combined with the previous measures announced on 12 March 2020, the support now totals $189 billion across the forward estimates. The Government is proposing to introduce relevant legislation this week, before the end of March, to provide further details on eligibility requirements for... the relevant support. Our comments below are based on the governments announcements. Cash flow assistance for business The Government will enhance the cash flow assistance measures for small to medium-sized (SME) businesses, which includes not for profits and charities. Businesses (including not for profits and charities) with a turnover of under $50 million that employ staff may now be eligible for up to $100,000 (increased from $25,000) in tax-free payments, with a minimum payment of $20,000 (up from $2,000). Government loan subsidy SME guarantee scheme The Government has announced a number of measures to support the flow of credit in the Australian economy, in particular for SMEs. This includes the Government providing a guarantee of 50% to SME lenders for new unsecured loans provided to SMEs Over the next six months, the government is temporarily expanding eligibility to income support payments and establishing a new, time-limited Coronavirus supplement to be paid at a rate of $550 per fortnight. Read More Access to $10,000 of superannuation in 2019-20 and 2020-21 The Government is allowing certain individuals affected by the Coronavirus to access up to $10,000 of their superannuation before 1 July 2020 and a further $10,000 in the following financial year The Government is temporarily reducing superannuation minimum drawdown requirements for account-based pensions and similar products by 50 per cent for 2019-20 and 2020-21. Delivering support for business investment Increase of the instant asset write-off threshold from $30,000 to $150,000. This is now available for businesses with an aggregated turnover of less than $500 million (from $50 million). This is intended to apply immediately to all purchases to 30 June 2020. Cash flow assistance for business The business that employs apprentices and trainees will be offered a subsidy of 50% of an apprentice or trainees wage for nine months (1 January 2020 to 30 September 2020). To be eligible, the business must employ fewer than 20 full-time staff and retain an apprentice or trainee. Where small business is not able to retain an apprentice, the subsidy will be available to the new employer. For more information, please read more on our latest blog on our website or please talk to one of our professionals to discuss your eligibility for the packages available. Thank you for your continued support.

17.01.2022 Let us #help you identify whether you have #business or #hobby . Let us take the #burden of your #personal and #business #finances so you can #focus on what you #love . . . . .... . #melbourneaccountant #galleyassociates #life #blogger #photographer #instgrammers #freelancers #artist #finance #businessadviser See more

15.01.2022 Soon enough we will be in the festive vibes and we need to organise Christmas work parties, make sure that you dont get the tax hangover! Fringe benefit tax and associated income tax and GST can sneak up on even the most organised of employers. Here are few tips to keep in mind and can have your Christmas work party tax-free. * $$ Limits the Christmas party could be exempt from FBT if its value is less than $300 per employee. So if, as an employer, you host a party and also ...give a gift to everyone, the party and the gift are considered separately for FBT. If each is less than $300, they are both generally FBT-free. * Location, Location At your workplace: If youre looking to ensure festivities are kept tax-free the best place to host the party at your workplace during the working week, and to limit attendees to staff only. However, if family of employees attend, it is important to stay below the $300 threshold * Employee gifts what can you claim? The important thing to remember is that if a Christmas gift or benefit to an employee is exempt from FBT, such as a minor benefit, you typically wont be able claim it as an income tax deduction, nor can you claim any GST credits from the purchase. * Does Santa have a Christmas bonus for you? If youd rather hand out cash bonuses to thank your employees for their hard work during the year, this payment is treated in the same way as salary and wages. PAYG withholding, super guarantee and payroll tax obligations will be triggered. The Tax Office will treat this bonus as ordinary time earnings. . . . #workparties #worklife #christmas #organising #workingwithyou #workingforyou #melbourne #accountant #taxplanning #financialplanning #galleyassociates #fun #yearend #yearendparty

13.01.2022 Time well spent with like minded people #commonwealthbank #galleyassociates #accountants #workingwomen #likemindedpeople #businessassociates

13.01.2022 Were wrapping up for Christmas.. We will be closed from 21 Dec 2019 and we will reopen on 5 Jan 2020. Thank you for being a part of #galleyassociates journey this year Were looking forward to a bigger 2020 with you. Merry Christmas and a happy new year from #galleyassociates team .... . #newyear #newbeginnings #faith #hopeforabetterfuture #2020 #arrivingsoon #betterworld #business #worklifebalance #galleyassociates #accountants #womeninbusiness #merrychristmas #melbourne #melbournelife See more

13.01.2022 Regardless of what #stage of #success #ladder you are, its #better to #consult the #experts . . . .... . #businessadvisor #accounting #gst #bookeeping #supportingbusiness #melbourne #melbourneaccountant #galleyassociates #australiantaxationoffice #singletouchpayroll #stp #cashflow #startups #lettheexpertsdeliverforyou See more

13.01.2022 You do it because you love it. To be successful you have to have your heart in your business and your business in your heart. . . . #success #enterpreneur #mindset #positivevibes #smallbusiness #wealth ... #accountant #motivation #goals #taxplanning #finance #growth #worklifebalance #lifestyle #thoughtfortoday #galleyassociates #melbourne #melbourneaccountant See more

12.01.2022 As we are not an essential business, our office will be closed for face to face appointments. Galley Associates will remain open to service our customers during this lockdown remotely via phone meetings, online meetings, Whatsapp, zoom or google meets. Thank you for your ongoing support. . .... . . #lockdown #workingfromhome #tax #smallbusiness #advisoryservices #workingwoman #workingforyou #open #remoteworking See more

12.01.2022 The Australian Tax Office hotspots 2019 The ATO believes that work-related expenses claims are the biggest element in that tax gap ($8.7 Billion) and have signalled that theyll be looking closely at these deductions this year. In particular, theyll be looking closely at: *Claims for work-related clothing, dry cleaning and laundry expenses (for instance the ATO has flagged that it will be checking taxpayers who take advantage of the exemption from keeping receipts for peop...le who spend less than $150 on laundry expenses; ) *Deductions for home office use, including claiming for occupation costs like rent, rates and mortgage interest, which are not allowable unless youre actually running a business from home. *Union fees *Mobile phone and internet costs, with a particular focus on people who are claiming the whole (or a substantial part) of the bill for their personal mobile as work-related *Motor vehicle claims where taxpayers take advantage of the 68 cent per kilometre flat rate available for journeys up to 5,000kms *Incorrectly claiming deductions under the rule that allows taxpayers who have incurred work-related expenses of $300 or less in total to make a claim without receipts (the ATO believes that some taxpayers are claiming this or an amount just less than $300 without actually incurring the expenses at all) Our tip before making any claim is to be confident that you understand what you can and cant claim, and that you have the necessary proof (invoices, receipts, diaries etc.) that you actually incurred the expenditure and that it was work or business-related. #accounting #taxation #galleyassociates #financeservices #tax #savemoney #taxplanning #business #cbdaccountants See more

11.01.2022 The health and safety of our customers, staff and community is, as always, our priority. As we continue to closely monitor the coronavirus situation and advice provided by the Australian Government, Victorian Government, local health authorities and the World Health Organisation, we would like to reassure all customers that we are taking the necessary precautions in order to protect our team, our customers and the greater community, as well as continuing to operate and deliv...er the high standard of service that we are known for. We are encouraging our employees to take extra precautions including frequent hand washing and staying home if they are feeling unwell. We continue to navigate this situation together as a community and during this period our Clayton Office will remain open for business as usual while our CBD office will be closed from Monday 23rd March onwards. We will still be working and try to finalise your BASs and Financials during this time. We encourage you to send your data to us via email, direct message or what app or any other way you used to send us in the past. Please visit www.health.gov.au or www.who.int, for more information. We will continue to do everything possible to protect our staff, customers and community in these difficult times and we thank you for your understanding and support as we implement necessary procedures and precautions as advised by our Government. Thank you for your continued loyalty and support, Manpreet Galley and Team

11.01.2022 My definition of success? The more you’re actively and practically engaged, the more successful you will be by @richardbranson Achievements are not gifts that are handed to those who are lucky, Achievements come to those who put in the hard work and dedication, those who persevere through hard times. Do not compare yourself to others, compare yourself to who you used to be. . . #successquote #motivation #entrepreneur #businessmindset #inspirational #moneymoneymoney #wealth #accountant #smallbusiness #smallbusinesstips #nevergiveup #galleyassociates

10.01.2022 JOBKEEPER CHANGES FROM TODAY- JAN 4th From today, the Jobkeeper extension 2.0 payment starts and rates are changing for eligible employees. Employers must pay their eligible employees at least the correct amount of either $1000 for tiers 1 and $650 for tier 2. . .... . . . #taxtime #taxplanning #smallbusiness #payroll #incometax #bookkeeping #cbdaccountant #claytonaccountant #familybusiness #solepreneur #workingwithyou #womeninbusiness #galleyassociates See more

09.01.2022 The Christmas season has arrived again and it brings happiness and joy with it. Its finally time to spend quality time with family and enjoy a well deserved break. As 2018 draws to a close, we all look back and see the things we have achieved and we at Galley Associates hope that we have been a part of your achievements. From the deepest part of our hearts, we thank you for placing your trust in us and giving us the opportunity to work with you.... We wish you a Very Merry Christmas and a Happy New Year. We hope that these holidays will bring fruitfulness and joy to your family. We advice you that our office will be closed from 23rd Dec 2018 to 6rd Jan 2019 for Christmas break. We will be reopen from 7th Jan 2019 Monday onward. From all of us here at Galley Associates we would like to wish you and your family a Merry Christmas & Happy Holidays. We would also like to remind you of our Holiday Schedule where we will be closed from 22nd December 2018 till 6th January 2019. we will reopen from 7th January 2019 onwards

09.01.2022 It is important to find your Motivation. You need to know the reason what you want to achieve your goals. It can be casing your dream job, financial freedom, sense of security or your passion. Time to time you have to remind yourself, why you want to achieve your goals. This is the pushing power and keep you going. . .... . . #motivation #goals #dreams #achieve #financialfreedom #wealth #enterpreneur #passion #life #workingwithyou #positive #expert #success #accountantslife #setyourgoals #peacewithin #galleyassociates See more

07.01.2022 The key to success is to FOCUS on your goals. Focus is important as it is the gateway to all thinking, problem solving and decision making. With focus you can be determined and effective at work and can achieve great results. If you cant focus effectively, your quality of work becomes substandard. Your focus becomes distorted when you have huge amounts of stress. Let us help you by taking care of all your taxation needs so you can become more focused. . .... . . #success #financialplanning #publicaccountant #taxation #leaders #melbourne #no1 #melbourneaccountant #australiantax #cbdaccountants #motivation #smallbusiness #goals #money #workingwithyou #mindset #wealth #love #quotes #quotesoftheday #worklifebalance See more

07.01.2022 Happy new year !! Lets start new year by setting targets and achieving goals and make 2020 a big successful year!!. . . . #happynewyear #motivation #newgoals #achievement #wealth #targets #success #melbourne #galleyassociates #accountants

07.01.2022 Get organised in 2020: New Year !! New Goals!! Get your vision on your goals, get organised and plan your journey. Know your numbers to be focused, we will take the burden of your accounting needs and will be part of your journey to achieve your goals. . . . .... #goals #success #mindset #newstart #smallbusiness #workingwithyou #worklifebalance #accountant #wealth #enterpreneur #melbourneaccountant #experts #motivation #taxplanning #no1 #cbdaccountant #galleyassociates See more

06.01.2022 We are here to #help you every #step along. . . . .... . #business #taxexpert #taxreturns #taxplanning #capitalgains #gst #melbourneaccountant #accounting #accountant #lettheexpertsdeliverforyou #galleyassociates #achievement #supportingbusinesses See more

06.01.2022 Have you made a plan for your FUTURE. Effective planning, Strategy and implementation can make more money that you can HOLD when you need the most. Work hard today to reap good RESULTS in Future. . . . . .... #accountant #tax #planning #future #taxplanning #financialfreedom #creative #workhard #worksmart #smallsteps #bigfuture #goals #melbouneaccountant #melbourne #success #dreambig #save See more

05.01.2022 Proud sponsor of #garba night with @Ramzat group; very well organized event and great performance from #geetarabari and team. Thanks for giving us the opportunity to be part of this event

05.01.2022 Happy New year

04.01.2022 Information and advice on the novel coronavirus called COVID-19 for community and businesses. The global effort to slow the spread of COVID-19 is presenting tough choices for business leaders. We are all following daily developments closely to prioritise the health and wellbeing of our employees, colleagues and families while keeping our organization and economies moving forward. I am writing to you today to underscore our support for you in those efforts. We have limited our... travel and are operating with flexible working options and will continue to work so that our services run as smoothly as possible. We are actively participating in talking to our clients over the phone to not delay any of their work during this pandemic. We highly appreciate your patience and cooperation during this period. In the meantime continue practicing under mentioned measures: 1. Sneeze into your elbow 2. Wash your hands 3. Stay at home if unwell We understand that this is worrying time for everybody and we are doing our bit to contain the spread of this COVID-19. We will get over this for sure , meanwhile stay well! We thank you again for your support. Manpreet Galley and team.

02.01.2022 Its Thursday and middle of the week. Its time to do some brainstorming and planning ahead for next month. Time to make some decisions based on facts... . . . .... #smallbusiness #accountant #publicaccountant #businessadvice #numbers #business #motivation #planning #money #wealth #startup #taxplanning #finance #enterpreneur #goals #mindset #life #galleyassociates #melbourne See more

02.01.2022 * Workers will receive $1500-per-fortnight ‘JobKeeper’ wage subsidy for the next 6 months * It applies to businesses losing a minimum 30% of income (50% for revenue over $1bn) * The ATO will manage the scheme through Single Touch Payroll * The flat rate payment applies to people employed at March 1 (provided they are reinstated if subsequently stood down or retrenched) * Payment starts flowing to businesses from May... * Casuals, if they’ve been with a business for 12 months, are included, as well as sole traders * Not-for-profits and charities are included in the scheme * The JobSeeker partner pay income test has been increased to $79,762 * For more information please visit our website. See more