As 2024 comes to a close, the team at Cordner is reflecting on the year in tax and accounting. In this blog, we revisit the months from January to June, highlighting key updates and changes since our original publication.

As an employer in Australia, understanding Fringe Benefits Tax (FBT) is essential for managing your tax obligations. FBT applies to non-cash benefits you provide to employees, such as company cars or gym memberships. This guide will cover the basics of FBT, key changes in 2024, and the importance of proper compliance.

In 2024, Self-Managed Super Funds (SMSFs) continue to gain popularity among Australians looking for greater control over their retirement savings. With the ability to tailor your investment strategy, manage assets like property, and take advantage of tax benefits, an SMSF offers flexibility that retail and industry funds don’t. But with this freedom comes the responsibility of managing compliance and meeting strict regulatory requirements.

The 2024-25 financial year presents a significant opportunity for small businesses across Australia with the Instant Asset Write-Off. This incentive allows you to fully deduct the cost of eligible assets purchased during the 2024 income year, with the threshold set at $20,000. This write-off can reduce your taxable income, freeing up vital cash to reinvest in your business.

At the end of the financial year, the ATO intensifies its efforts to ensure businesses and individuals adhere to tax regulations. This period sees an increase in compliance checks, making it crucial for you to stay informed about the ATO's focus areas. Understanding these focus areas and implementing strategies to maximise your tax deductions while minimising risks is essential for maintaining financial health and avoiding penalties. In this blog, we delve into the ATO's primary targets and offer practical tips to enhance your tax strategy, ensuring you navigate the end-of-year checks with confidence and compliance.

At the end of the financial year, the ATO intensifies its efforts to ensure businesses and individuals adhere to tax regulations. This period sees an increase in compliance checks, making it crucial for you to stay informed about the ATO's focus areas. Understanding these focus areas and implementing strategies to maximise your tax deductions while minimising risks is essential for maintaining financial health and avoiding penalties. In this blog, we delve into the ATO's primary targets and offer practical tips to enhance your tax strategy, ensuring you navigate the end-of-year checks with confidence and compliance.

Navigate the Federal Budget 2024-25 with Cordner Advisory. Discover key changes impacting businesses and learn strategic approaches to tax planning. Explore efficient timing of business expenses, optimising financial opportunities, and understanding new tax legislation. Partner with Cordner Advisory’s expert corporate accountants for tailored strategies that ensure compliance and enhance profitability, aligning with your business goals.

Unlock advanced tax planning with Cordner Advisory in 2024. Delve into strategic asset purchases, efficient timing of business expenses, and entity restructuring. Gain clarity on new tax credits and legal structures to optimise your business tax obligations and financial planning. Partner with business accountants from Cordner Advisory, for tailored strategies that align with your business goals and ensure compliance and profitability.

Explore the latest stage 3 tax cuts with insights from Cordner Advisory, Gold Coast's leading tax accountants. Learn effective strategies for adapting to the changes, and navigate the tax environment with confidence under expert guidance. Discover essential tax advice for adjusting to new tax rates and ensure your financial well-being with Cordner Advisory's essential guide to proactive financial planning.

The ATO recently release updated guidance (PCG 2021/D2) on their view of the treatment of profits earned by professional practices…

In light of the recent developments around the Coronavirus (or COVID-19) and the uncertainty we are all facing at this time, we felt it important to advise you to assure you that we expect no major interruptions to the services that we provide to you.

Do you have a highly innovative product, process or service, the Advance Queensland Ignite ideas fund can help you bring it to market.

Queensland Treasurer Jackie Trad set down the 2019 / 2020 Queensland Budget yesterday and there were some changes to payroll tax and land tax to be aware of.

By now I am sure you have heard all about the most unexpected election result in some time – at least since 1993.