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M.Kay & Associates

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Maroubra, NSW
M.Kay & Associates

https://g.co/kgs/H7KjaK M.Kay & Associates, an accounting firm located in Maroubra, NSW, Northern NSW & Gold Coast QLD.

Our qualified accountants and Bookkeepers offer both personal & business services and solutions. Our team can help with anything from income tax returns to business strategy planning. We offer tax advice, business advice & valuation, asset protection, bookkeeping, payroll & single touch payroll, tax planning and compliance, financial statements, business merging, ASIC records & registers, activity

statements, budgeting, negative gearing, investment strategies, capital gains tax advice & much more. We service the whole of The Eastern Suburbs including; Maroubra, Maroubra Beach, Eastgardens, Pagewood, La Perouse, Coogee, Little Bay, Malabar, Malabar, Red Hill, Clovelly & Bondi. For the best accountants in the Eastern Suburbs, look no more.

16/01/2026

If your earnings have changed, you could be paying more tax than you need to 💸

PAYG instalments are based on your expected income — so when your non-employment income goes up or down, it’s important to review them 🔍

Here’s what to know 👇

💡 PAYG instalments are regular tax payments made throughout the year based on your expected income
📉 If your income has dropped or your circumstances have changed, you may be able to vary your instalments
🗓 Q2 variation deadline: 28 February (submitted via the ATO)

If your income has decreased, chat with your accountant to see whether varying your PAYG instalments makes sense for you 🤝

Have a question? Drop it in the comments 💬 or send us a DM 📩

15/01/2026

Misclassification can be costly for businesses.

If you are unsure whether a worker should be classified as an employee or an independent contractor, it’s important to seek clarity early—before payroll, tax, and compliance issues arise.

Understanding the key differences can help protect your business and avoid unnecessary risk.

You don’t have to manage these decisions alone.

Schedule a call with us to gain clarity and free up valuable time to focus on your business.

13/01/2026

Not using your ABN anymore? The ATO may cancel it without much notice.

The ATO regularly reviews ABNs that appear inactive or unused. If there’s no activity reported, your ABN can be cancelled, which may cause issues with invoicing, payments and tax reporting.

If you still need your ABN, make sure it stays active by lodging required returns, updating your business details and keeping records current.

If you no longer need it, it’s important to close it properly rather than letting it sit unused.

Keep it current or close it properly.

Have questions? Send us a message.

Follow for more helpful tips to make running your business easier.

08/01/2026

What successful business owners do every January isn’t complicated.

It’s intentional, because January sets the tone for the rest of the year.

What’s one thing you’re focusing on this January?

Drop it in the comments!

05/01/2026

Drop your picks in the comments or tag a friend to see what they choose.

03/01/2026

January key dates are here! Take a look at what’s coming up in January. It’s a busy month with important deadlines.

Follow for more reminders and tips to make running your business easier.

02/01/2026

We provide ATO-focused tax and accounting services to help you meet your compliance obligations and stay in control with confidence 🧾📊

With our year-round tax compliance and proactive tax planning services, we help you manage obligations, reduce risk, and avoid penalties — not just at tax time, but throughout the year ✅

Whether you need assistance with catching up on overdue tax lodgements, resolving prior-year compliance issues, or ensuring your records meet ATO reporting requirements, our team can support you.

📞 Book a call to learn more.

07/11/2025

Here are your key November dates to mark on your calendar.

Follow for more reminders and business tips like this.

05/11/2025

💡 Understanding PAYG: Withholding vs Instalments

👩‍💼 PAYG Withholding — for employees
If you employ staff, you’re required to withhold tax from their wages and pay it to the ATO on their behalf.
✅ This ensures your employees meet their tax obligations progressively throughout the year, rather than waiting until tax time.

🏢 PAYG Instalments — for business owners
If you operate a business and your income reaches a certain threshold, the ATO requires you to pre-pay your own expected tax in instalments during the year.
💰 This helps you avoid a large tax bill at the end of the financial year.

In summary:

➡️ If you have employees → you need PAYG Withholding
➡️ If you’re a sole trader, company, trust, or partnership earning business income → you may be required to pay PAYG Instalments

Both systems help ensure tax is paid progressively throughout the year — they just apply to different people.

📞 Have questions or interested in working with us? Book a call today and we’ll help you get set up with confidence.

18/09/2025

Businesses need to register for Goods and Services Tax (GST) once their turnover hits $75,000 over a period of 12 months. For non-profits, the threshold is $150,000.

If you’re not registered for GST, check each month to see if you’ve reached the threshold or are likely to exceed it. You must register within 21 days of your GST turnover passing the relevant threshold.

If you don't register for GST and are required to, you may have to pay GST on sales made since the date you were required to register.

This could happen even if you didn't include GST in the price of those sales. You may also have to pay penalties and interest.

Once you have an ABN, you can register for GST:

- Through Online services for business

- By phone on 13 28 66

- Through your registered tax agent or BAS agent

You’ll then receive written confirmation of your:

- GST registration details (including the effective date)

- ABN details (if you haven’t already received them)

Once registered, you’ll also need to lodge a Business Activity Statement (BAS) to report and pay GST.

Not sure if you should register yet? This is where a professional can help you decide the right time for your business.

15/09/2025

✨ Progress doesn’t have to be massive — it just has to begin.
🧠 The right mindset + clear goals = steady growth, whether in business, finances, or life.
💼 Even small steps like organising receipts or setting aside time for planning can create big results over time.

🌟 What’s your favourite way to stay motivated on Mondays? Share your mindset tips in the comments ⬇️

11/09/2025

💡 What is PAYG Instalments?
PAYG (Pay As You Go) instalments are regular prepayments towards your expected tax bill. Instead of facing a big lump sum at year-end, you chip away during the year ✅.

👩‍💼 Who needs to pay them?
If your business or investment income is above a certain threshold, the ATO will generally place you in the PAYG system. It’s designed to help you stay on top of your tax obligations 📊.

📲 You can check your PAYG instalments via myGov, through your BAS, or with the help of your tax agent. If your income will be higher or lower than expected, you can also request an adjustment.

💬 Got questions? Leave them in the comments.
✨ We’re taking on new clients now — let’s get your tax sorted!

Address

242 Boyce Road
Maroubra, NSW
2035

Opening Hours

Monday	9am - 5pm
Tuesday	9am - 5pm
Wednesday	9am - 5pm
Thursday	9am - 5pm
Friday	9am - 5pm

Telephone

0481146154

Website

http://www.mkayassociates.com.au/

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