Montgomery Carey & Associates in Warrnambool, Victoria | Accountant

Montgomery Carey & Associates

Locality: Warrnambool, Victoria

Phone: +61 3 5564 9333

Address: 225 Koroit Street 3280 Warrnambool, VIC, Australia

Website: https://www.mcaaccounting.com.au/

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03.02.2022 On behalf of everyone at MC+A, we would like to congratulate Jane (our wonderful receptionist) and Peter on their recent engagement. Wishing you both all the very best for the future.

25.01.2022 Jobkeeper update - add eligible employees that missed out on your initial enrolment. Read below....

25.01.2022 Happy 40th birthday Michelle! We all hope you have the most wonderful day celebrating with your family. Cheers to many more!

25.01.2022 Dairy Business Grant: Energy and Emissions Reductions Minister Angus Taylor announces grants from $5k to $20k to improve energy efficiencies for Dairy Farms. Please read the fact sheet link below on how to apply... https://www.business.gov.au//Energy-Efficient-Communities-

24.01.2022 Small Business $150k Instant Asset Write-Off extended: With a little bit more room in the kitty than first thought, Treasurer Josh Frydenberg has announced that the Government will extend the incentive for businesses with an aggregated turnover of less than $500 million by six months. Businesses now have until 31 December 2020 to acquire the asset and have it installed ready for use. This should not be confused with obtaining the tax deduction this financial year. Busines...ses must still acquire and have the asset installed ready for use by 30 June 2020, otherwise the deduction will fall into next financial year. Tax Tip: Did you know that under the SBE pooling provisions that your asset "pool" balance must be written off in its entirety this year if the closing balance is less than $150k? It is not a choice, the write-off is compulsory. This has major impacts on superannuation deductions, donation deductions, Farm Management Deposits deductions and more. Ensure your tax planning is comprehensive and takes into consideration the impacts of this easily overlooked depreciation pool balance sleeper.

24.01.2022 Due to the Covid-19 Snap Lockdown we are temporarily working remotely and can be contacted via telephone, email and virtual meetings. To book a virtual meeting please call 03 5564 9333.

23.01.2022 And like that, another year has passed us by and another year older you are. Happy Birthday Jake, one of our amazing accountants. We appreciate all the hard work you put in and hope you spend your special day relaxing and enjoying yourself away from the office.

22.01.2022 Covid safe fast tax returns....online bookings and virtual meetings. Book today to maximise your return! Click on the link and navigate to the "Book an Appointment" page and simply follow the prompts -https://www.mcaaccounting.com.au/

22.01.2022 Every small business starts off with a dream which transforms into a vision. Our story started here (see photos) and our vision remains strong: Small Firm Personality. Big Firm Capability. We understand small business because we share that journey with you and live it every day. Reach out and talk to us, we speak the same language. Call (03) 5564 9333.

21.01.2022 #News Update - All Company Directors All Company Directors must apply for a new Company ID number between 1 November 2021 and 30 November 2022. At this stage it appears you will need to do this personally on your MyGov online account. Stay tuned for updates.....

21.01.2022 Why not have your tax return professionally prepared from the safety and comfort of your own home? Book a virtual online meeting today with one of our qualified accountants at Montgomery Carey & Associates. Click on the link to book and maximise your return.... https://www.mcaaccounting.com.au/

21.01.2022 Breaking News# PM announces disaster payment for workers. Workers who are unable to work because of lockdown restrictions will be eligible for $500 a week if they normally work more than 20 hours each week, and those who work less than 20 hours receive $325 weekly until restrictions ease. Conditions apply....read the attached link for further details.... https://www.accountantsdaily.com.au//15767-pm-announces-co

21.01.2022 Budget Update - Temporary Full Expensing. From 7:30pm (AEDT) on 6 October 2020 until 30 June 2022, businesses with turnover up to $5 billion will be able to deduct the full cost of eligible depreciable assets of any value in the year they are first used or installed ready for use. The cost of improvements made during this period to existing eligible depreciable assets can also be fully deducted. Eligible businesses that acquire eligible new or second-hand assets under the enhanced $150,000 instant asset write-off by 31 December 2020 will also have an extra six months, until 30 June 2021, to first use or install those assets.

20.01.2022 Wishing the happiest of birthdays to our wonderful Senior Accountant Grace Butters. From the entire MC+A team we hope you have had a great day working hard from your home office and a little bit of fun too! We can't wait to celebrate with you and enjoy some birthday cake very soon. Until then a virtual cake will have to do....sorry Grace, we know it's not quite the same thing!

18.01.2022 Today working (hopefully not too hard) from home we wish Brit the happiest of Birthday and hope she has a lovely day. We can't wait to have her back in the office full time. Whatever you wish for Brit, we second that!

18.01.2022 JobKeeper update: Did you know that employees who missed out on the JobKeeper initially may now be eligible under the existing scheme? Employees that started full time or part time employment after 1 March 2020 and before the 2nd of July 2020 (which also includes long term casuals), may now be eligible under the existing arrangements in the current fortnight?... Contact MC+A to find out how to access the funding for these eligible employees and for more information read the link below... https://treasury.gov.au//Fact_sheet-JobKeeper_Payment_exte

18.01.2022 From everyone here at MC+A we wish our Managing Principal, Richard the happiest of birthdays. I'm sure he made the most of the long weekend to celebrate but gee 2021 better make up for all the cake we've missed!

14.01.2022 BREAKING NEWS: Premier Andrews announces more Business Support. Media release link below. Details to be published on the Business Victoria website. https://www.premier.vic.gov.au/supporting-victorian-busines

13.01.2022 Today we celebrate a Mothers Day like no other, for some it'll be a virtual hug and for others who have been in lock down with children for weeks on end we wish you a day of relaxation. We appreciate and thank all mums for their hard work, the unconditional love and for always being there.

12.01.2022 How much will you benefit from the Federal Budget announcement to lower taxes? Check out the calculator link below to see how it applies to you.... https://budget.gov.au/calculator/index.htm

12.01.2022 New government changes have relaxed the Jobkeeper turnover test and employee eligibility rules, making it easier to qualify for Jobkeeper 2.0. The current arrangements will continue as originally planned until 27 September 2020. After which the Jobkeeper will be available for eligible businesses from 28 September until 3 January, and, then again from 4 January through until 28 March 2021. Turnover tests apply for each period. Small Businesses will be required to test their ...Continue reading

12.01.2022 Why not have your tax return professionally prepared from the safety and comfort of your own home? Book a virtual online meeting today with one of our qualified accountants at Montgomery Carey & Associates. Click on the link to book and maximise your return.... https://www.mcaaccounting.com.au/

10.01.2022 $150K Instant Asset Write-Off to end on 30 June 2020!! Time is fast running out to make use of the Instant Asset Write off for Plant & Equipment purchases up to $150k to the extent they are used for Business. From 1 July 2020, this instant tax depreciation deduction drops back to only $1,000. It is uncertain whether an extension to this scheme will be considered in the Government Budget which has been postponed until October.... Therefore, carefully consider your tax planning opportunities before it is too late. Tax Planning Tip: Car write-off deductions are limited to $57,581 ex-GST. However, certain utility vehicles do qualify for the full write-off up to their purchase price capped at $150k, to the extent they are used for business purposes. Talk to one of our Tax Specialists today to discuss your tax planning opportunities, call 03 5564 9333.

10.01.2022 Urgent Update - Small Business Fund - Expansion Program $5k Grant is NOT automatic. You must apply!!!! Regional businesses that successfully received the Victorian Government Small Business Fund $10,000 Grant MUST reapply to apply to receive an additional $5,000 by 14 September 2021. This updates our earlier post which stated the grant was automatic for recipients of the first grant. Other businesses that missed out on round one can also apply by 14 September 2021. Strict el...igibility requirements apply, note the edibility criteria has been relaxed to include businesses whose employment costs are greater than $650k but less than $3Million. To be eligible for the Fund, businesses must: a) Operate a business located within Victoria; and b) Be a participant in the Commonwealth Government’s JobKeeper Payment scheme1; and c) Employ people and be registered with WorkSafe on 30 June 2020; and d) Have an annual payroll of less than $3 million in 2019-20 on an ungrouped basis; and e) Be registered for Goods and Services Tax (GST) on 30 June 20205 ; and f) Hold an Australian Business Number (ABN) and have held that ABN at 30 June 2020; and g) Be registered with the responsible Federal or State regulator. Please follow the link below for more details.... https://www.business.vic.gov.au//bus/business-support-fund

10.01.2022 Tax Planning Tip# Are you confused about how to apply Depreciation, the Instant Asset Write-Off and Temporary Full Expensing of assets?....then you are not alone. Read the PDF for a summary of the interaction of these rules on the link below.... https://www.ato.gov.au//Interaction-of-tax-depreciation-i/

09.01.2022 OFFICE OPEN: At long last the team at MC+A will be back together again tomorrow, Tuesday 7th of December in our Warrnambool office. We can finally have "face to face" appointments (following COVID-Safe guidelines). We can't wait to see you again!

09.01.2022 Breaking Budget News - JobMaker Hiring Credit announced. A 12 month hiring credit is available for eligible employers who employ eligible employees. The payment is $200/week for 16 to 29 year old's and $100/week for 30 to 35 year old's paid quarterly in arrears. The business must not be receiving JobKeeper.... The new employee must have received JobSeeker, Youth Allowance (Other) or Parenting Payment for at least one of the last three months before being hired. To determine eligibility please read the full details on the fact sheet below. https://budget.gov.au//jobmaker_hiring_credit_factsheet.pdf

08.01.2022 Small Business Fund - Expansion Program $5k Grant Regional businesses that successfully received the Victorian Government Small Business Fund $10,000 Grant will automatically receive an additional $5,000. Other businesses can apply by 14 September 2021. Strict eligibility requirements apply, follow the link below.... https://www.business.vic.gov.au//bus/business-support-fund

08.01.2022 A major employment dilemma just got that much harder. Should you employ Casual or Part Time Staff? The answer lies in how you schedule staff shifts. CPA Australia has just announced this as an SME nightmare that extends back up to 6 years! The fall out from a the Federal Court case in May 2020 has just been digested. The court ruled that some casual employees working regular and ongoing shifts have the right to certain benefits enjoyed by permanent staff, such as annual an...d personal leave and public holidays. Notably, the court also ruled that topping up workers’ pay through casual loading does not offset leave liabilities. This essentially means that some casual employees could be entitled to both paid leave and casual loadings, typically worth 25 per cent of their pay. At a time when small business is doing its best to survive the last thing any SME needs is a major hit to cashflow. We recommend that you review your casual staff working contract arrangements to ensure that they are not working regular ongoing shifts. For assistance with this potential time bomb please contact us asap.

07.01.2022 News Flash# Companies to benefit from proposed announcements on a new loss carry-back provision which essentially permits a company to apply current-year tax losses to recover tax paid in prior years. Tomorrow nights budget will be very interesting indeed.....read more below. https://www.accountantsdaily.com.au//14900-loss-carry-back

07.01.2022 How much will you benefit from the Federal Budget announcement to lower taxes? Check out the calculator link below to see how it applies to you.... https://budget.gov.au/calculator/index.htm

05.01.2022 Montgomery Carey and Associates are excited to welcome our newest members to the team. Estelle Rogers-Dyson our new Book Keeper - Estelle enjoys exploring the great outdoors whenever the opportunity presents, weekend Palates class and cycling on the rail trail. Estelle's aim is to reach a milestone of 100 park runs this year. Having followed Rugby & Cricket most of her life she is excited to be learning about Aussie Rules and has already found a team - Go Bombers! Lucinda... Priestley is our new Office Administration - Lucinda and her Partner are proud parents to 2 boys aged 6 & 8 and they enjoy BMX racing and Mountain Biking with the family. Lucinda has a keen interest in Interior design, theatre and live music. The family love a bit of healthy competition with Lucinda recruiting her eldest son to barrack for the Tigers, and her partner has the youngest barracking for the Kangaroos. Go Tiges! Jane McLeod is our new Receptionist - Jane is a mother of 2 children aged 24 and 21. Jane and her Partner love to get out into nature and spending time together in the kitchen. They enjoy live music, dining out and the company of friends and family. Nikita Hallowell is our new Senior Accountant - Nikita at the beginning of last year relocated back to her home town of Warrnambool after living in Melbourne for the past 7 years. After working from home for over a year she is very excited to get back into an office and enjoy all the social aspects that come with it. In her spare time she enjoys anything fitness related, self-proclaiming her self as a bit of a "gym junkie". Nikita also likes to wind down her week watching the Richmond Tigers play with a nice glass of red wine.

04.01.2022 JOBKEEPER UPDATE: A potential employment law minefield, don't get caught out! Understand your Fair Work Obligations. Such as: Can I direct my staff to work more hours under the JobKeeper scheme to match what they are paid?... Can I instruct my staff to work different duties than those they are employed to fulfil? Can I send my staff to work at different locations to their usual workplace? Follow the link at the very bottom of this post to answer these questions and more...the answers might surprise you!!!

03.01.2022 Budget Update 2# The Government will continue to examine Australia's insolvency laws including: 1. clarifying the treatment of trusts with corporate trustees;... 2. raising the threshold creditors by which creditors can issue a statutory demand from $2,000 to $4,000; and 3. implement an independent review of the insolvent trading safe harbour. SME Recovery Loan Scheme - JobKeeper recipients or eligible flood-affected businesses may be eligible via their lenders to receive a Government guarantee for 80% of their loans up to $5 million for 10 years at rates no higher than 7.5%. Turnover thresholds apply.

02.01.2022 STATE GOVERNMENT EXTENDS $10k GRANT The Victorian government has announced that it will expand business support fund grants to provide more support for Victorian businesses affected by the coronavirus pandemic. With more than $150m paid out in grants to businesses across the state, the fund will now move to the second phase of support.... Support will be expanded to include businesses with wages and superannuation of less than the payroll tax threshold of $650,000 and are participating in the Commonwealth JobKeeper program, regardless of the sector they operate in. Eligibility for the fund will not be expanded to include sole traders who are covered by JobKeeper. Businesses that applied for business support fund payments but were initially considered not eligible on the basis of their sector classification will be contacted and they do not have to submit a new application. Businesses that had not previously applied for a grant due to their sector classification are encouraged to make an application when it opens in the coming days.

02.01.2022 Accountants to issue post-JobKeeper turnover certificates: Employers are required to be issued certificates that will provide an extension of the current temporary "Covid" Fairwork provisions where the business turnover decline is at least 10% but not not 30%. It is designed to provide some continued relief for a further six months beyond 30 September 2020. This will allow the reduction of an employee's ordinary hours by 40% compared to pre-Covid and to allow directions in ...respect of duties and location of work, where businesses no-longer qualify for JobKeeper but are still experiencing some on-going loss of cashflow. This Bill is currently before parliament. Follow the link below for more details: https://www.accountantsdaily.com.au//14761-profession-to-b

02.01.2022 What a grand final this will be! We will be all cheering the Demons and Bulldogs on from our loungerooms and hoping an exciting close game. Who are you tipping to win and by how much?

26.12.2021 #Covid-19 Disaster Payment - breaking news From July 16th if you cannot earn your usual income of 8 hours or more or a full day's work because of lockdown you may be eligible for up to a $600 weekly payment. You can claim from 23rd of July until 19 August 2021 at this stage. You must claim through a myGov account, if you don't have one you will need to create one.... Payments: if you lost between 8 and 20 hour per week you may receive $325 for each relevant 7 day period. If you lost more than 20 per week you may receive $600 for each relevant 7 day period. Click on the link below for more details: https://www.servicesaustralia.gov.au//covid/who-can-get-it

21.12.2021 Montgomery Carey + Associates would like to wish Brit a very Happy Birthday for Saturday. Hope you had a wonderful day.

16.12.2021 The team at Montgomery Carey + Associates would like to wish Jane a very happy birthday for Sunday.

10.12.2021 The team at Montgomery Carey & Associates would like to wish Grace a very Happy Birthday.

30.11.2021 The team at Montgomery Carey & Associates would like to wish one of our newest team members, Lucinda Priestley a very Happy Birthday.

15.11.2021 Tax Planning Tip# Are you confused about how to apply Depreciation, the Instant Asset Write-Off and Temporary Full Expensing of assets?....then you are not alone. Read the PDF for a summary of the interaction of these rules on the link below.... https://www.ato.gov.au//Interaction-of-tax-depreciation-i/

13.11.2021 Breaking News# PM announces disaster payment for workers. Workers who are unable to work because of lockdown restrictions will be eligible for $500 a week if they normally work more than 20 hours each week, and those who work less than 20 hours receive $325 weekly until restrictions ease. Conditions apply....read the attached link for further details.... https://www.accountantsdaily.com.au//15767-pm-announces-co

26.10.2021 Due to the Covid-19 Snap Lockdown we are temporarily working remotely and can be contacted via telephone, email and virtual meetings. To book a virtual meeting please call 03 5564 9333.

22.10.2021 Montgomery Carey and Associates are excited to welcome our newest members to the team. Estelle Rogers-Dyson our new Book Keeper - Estelle enjoys exploring the great outdoors whenever the opportunity presents, weekend Palates class and cycling on the rail trail. Estelle's aim is to reach a milestone of 100 park runs this year. Having followed Rugby & Cricket most of her life she is excited to be learning about Aussie Rules and has already found a team - Go Bombers! Lucinda... Priestley is our new Office Administration - Lucinda and her Partner are proud parents to 2 boys aged 6 & 8 and they enjoy BMX racing and Mountain Biking with the family. Lucinda has a keen interest in Interior design, theatre and live music. The family love a bit of healthy competition with Lucinda recruiting her eldest son to barrack for the Tigers, and her partner has the youngest barracking for the Kangaroos. Go Tiges! Jane McLeod is our new Receptionist - Jane is a mother of 2 children aged 24 and 21. Jane and her Partner love to get out into nature and spending time together in the kitchen. They enjoy live music, dining out and the company of friends and family. Nikita Hallowell is our new Senior Accountant - Nikita at the beginning of last year relocated back to her home town of Warrnambool after living in Melbourne for the past 7 years. After working from home for over a year she is very excited to get back into an office and enjoy all the social aspects that come with it. In her spare time she enjoys anything fitness related, self-proclaiming her self as a bit of a "gym junkie". Nikita also likes to wind down her week watching the Richmond Tigers play with a nice glass of red wine.

08.10.2021 Budget Update 2# The Government will continue to examine Australia's insolvency laws including: 1. clarifying the treatment of trusts with corporate trustees;... 2. raising the threshold creditors by which creditors can issue a statutory demand from $2,000 to $4,000; and 3. implement an independent review of the insolvent trading safe harbour. SME Recovery Loan Scheme - JobKeeper recipients or eligible flood-affected businesses may be eligible via their lenders to receive a Government guarantee for 80% of their loans up to $5 million for 10 years at rates no higher than 7.5%. Turnover thresholds apply.

25.09.2021 Budget Night Tax Update Highlights# 1. Low and Middle Income Tax Offset (LMITO) extended for 2021-2022; 2. Temporary Full Expensing of assets extended until 30 June 2023; 3. Temporary Loss Carry-Back extended until 30 June 2023 for eligible companies;... 4. Small Businesses can apply to the Small Business Taxation Division of the Administrative Appeal Tribunal (AAT) to pause ATO debt recovery until their case is decided by the AAT; 5. Self-Education expense hurdle of $250 is being removed; and 6. Simplified residency rules for individuals entering the country. See link below for further details..... https://budget.gov.au//factshee/download/factsheet_tax.pdf