Frequently Asked Questions (FAQ)
Find answers to our most frequently asked questions on tax and accounting for small businesses, SMSF, and private advisory here.
Working With Cordner Advisory, tax and accounting firm
-
Cordner Advisory is located in Broadbeach on the Gold Coast.
-
At Cordner Advisory, we're your go-to team for accounting services in Broadbeach, Gold Coast. But our reach extends far beyond this beautiful coastal city. We have clients across all of Australia, from the golden beaches of the Sunshine Coast and Gold Coast, right down to Sydney and Melbourne and across to Perth. We serve a number of clients in major cities such as Brisbane and smaller cities such as Adelaide and Hobart.
We are more than happy to assist you, no matter where you are located. We are only a phone call or email away. Contact us today at (07) 5504 5700, or email us at info@cordner.com.au
-
Cordner Advisory delivers experienced senior big firm specialist skills with local care and attention.
-
Cordner Advisory provides an extensive range of services, including accounting, tax compliance, business and private advisory, CFO services, as well as self-managed super funds (SMSF) support, serving a wide spectrum of businesses across numerous industries. These industries encompass technology and startups, childcare, medical and allied health, hospitality, construction, and property, among others.
-
Cordner Advisory is a modern accounting firm located in Broadbeach, Gold Coast that specialises in providing tailored corporate advisory services to small businesses across Australia. Our offerings include tax and accounting services for small businesses, business advisory and growth solutions for companies, as well as assistance with self-managed super funds (SMSF). Our goal at Cordner Advisory is to provide small businesses with the clarity they need in their financial figures, empowering them, sparking enthusiasm, and instilling confidence.
-
Cordner Advisory customises all costs to align with your business's specific needs. To begin, you can schedule a complimentary initial consultation with one of our accountants for small businesses, private advisors or business advisors. This consultation will enable us to gain insights into your requirements and develop a tailored plan to support both you and your business.
To book a free consultation, please contact our reception at (07) 5504 5700.
-
As experts in company advisory services on the Gold Coast, we don't solely concentrate on tax matters; instead, We employ innovative strategies to help our clients start, grow, and scale their businesses. We prioritise world-class communication, ensuring effective interaction both within our team and with our clients.
-
While Cordner Advisory provides tax return services for individuals, our primary focus lies in offering corporate advisory services to small to medium-sized companies. Book your complimentary consultation today.
-
Most people will need to lodge a tax return each year. If you've had income tax taken from your wage or salary during the financial year, you'll need to lodge an income tax return.
-
The standard deadline for lodging a tax return for your small business is the 31st October if you're handling it independently. However, by engaging an accounting company like Cordner Advisory, based in Broadbeach, Gold Coast, you can benefit from an extended deadline. While the extended deadline can vary based on specific circumstances, it can be extended up to the 15th of May. Utilising the services of experienced accountants for small businesses, like Cordner Advisory, not only affords you extra time but also ensures accuracy and compliance in your tax submissions, further simplifying the tax and accounting process for your business. Book your complimentary consultation today.
-
A business activity statement is how you report and pay your business taxes to the ATO. These need to be lodged every quarter. The reason most businesses need to lodge a BAS is to report and pay GST. If you need to complete a BAS, the ATO will send it to you when it is time to lodge.
-
Tax compliance involves being aware of and observing the state, federal and international tax laws and requirements.
-
Tax compliance can be complex and time-consuming for small business owners. At Cordner Advisory, Broadbeach, Gold Coast, we ease this process by ensuring accurate and timely tax submissions in adherence to the prevailing tax laws. Our dedicated team helps streamline your tax compliance and accounting needs, allowing you to concentrate on your core business activities. Trust Cordner Advisory for simplifying your tax and accounting responsibilities, ensuring your business's financial well-being. Contact us today.
-
Handling Business Activity Statements (BAS) accurately is a fundamental requirement for small businesses, ensuring correct reporting and payment of various tax obligations like Goods and Services Tax (GST), Pay As You Go (PAYG) installments, and PAYG withholding tax. By leveraging the services of Cordner Advisory, small business owners benefit from professional expertise, cost-effectiveness, and time-saving solutions in managing their BAS obligations seamlessly. Located in Broadbeach, Gold Coast, Cordner Advisory is adept at facilitating accurate and timely BAS lodgements, ensuring compliance and financial peace of mind for small business owners.
Book your complimentary consultation today.
-
Yes, it's essential to register your small business for GST if it has, or is anticipated to have, an annual turnover of $75,000 or more. If you are running a non-profit organisation, the threshold is higher, with a turnover of $150,000 or more per year necessitating GST registration. Here at Cordner Advisory in Broadbeach, Gold Coast, we can assist you with GST registration and management, ensuring that your small business complies with all requisite tax laws and regulations seamlessly.
Book your complimentary consultation today.
Self Managed Superfund (SMSF)
-
A Self Managed Super Fund (SMSF) is a private superannuation fund that you manage yourself, providing a way to save for your retirement. The main advantage of an SMSF is the level of control you have over your investments.
Cordner Advisory, based in Broadbeach, Gold Coast, offers professional assistance in setting up and managing your SMSF. We ensure compliance with all regulatory requirements while helping you make informed investment decisions to grow your superannuation savings. Our experienced team provides a comprehensive service that covers the financial, tax and accounting aspects of managing an SMSF, SMSF investment strategies, we simplify the process for you and help secure your financial future.
Book your complimentary consultation today.
-
You can access your Self Managed Super Fund (SMSF) upon reaching your preservation age and deciding to retire, or upon reaching your preservation age and opting to transition to retirement while continuing to work. Additionally, you have access to your SMSF once you turn 65 years old, regardless of your retirement status. Cordner Advisory in Broadbeach, Gold Coast, can assist you in understanding the specific regulations and steps involved in accessing your SMSF, as well as guide you on how to set up a self-managed super fund effectively to meet your financial goals in retirement.
Book your complimentary consultation today. -
SMSF trustees carry significant responsibilities to ensure compliance with superannuation laws and regulations. Their duties include creating and executing an investment strategy, ensuring the fund is compliant with taxation and superannuation laws, accurate record-keeping, auditing, and reporting to the Australian Taxation Office (ATO).
Cordner Advisory, located in Broadbeach, Gold Coast, extends a helping hand to SMSF trustees by offering comprehensive services that ensure full compliance with the regulatory framework. Our proficient team assists in formulating and implementing robust investment SMSF strategies, accurate record keeping, timely SMSF auditing, and seamless reporting to the ATO. We simplify the complexities associated with SMSF trustee responsibilities, ensuring your fund operates efficiently, and enabling you to focus on maximizing your fund’s growth potential.
Book your complimentary consultation today.
-
A trust is a legal entity where a trustee manages assets for beneficiaries. Compared to companies, trusts offer better asset protection and flexible income distribution, potentially leading to favorable tax outcomes. Cordner Advisory, based in Broadbeach, Gold Coast, can guide you in choosing the right setup based on your business needs and compliance requirements.
Book your complimentary consultation today.
-
The decision to establish a trust should come when the benefits of asset protection and potential tax advantages outweigh the costs of setup and management. It's individual to each business scenario. Cordner Advisory in Broadbeach, Gold Coast, can provide expert guidance to help you assess the right time to set up a trust for your small business based on your business's financial landscape.
Book your complimentary consultation today -
If you've lost your trust deed, options include searching for a copy of the original with help from your solicitor or accountant, finding an equivalent version from financial institutions involved, having a solicitor prepare a deed of confirmation, or applying to court to reconstruct the deed or administer the trust as per state legislation.
Book your complimentary consultation today.
-
Absolutely, Cordner Advisory offers tailored CFO services to meet the specific financial management needs of your business. Our experienced team in Broadbeach, Gold Coast, provides insightful financial guidance, budgeting, forecasting, and strategic financial planning. Whether you are a small business or a growing enterprise, our CFO services are designed to steer your business toward financial stability and growth. By partnering with Cordner Advisory, you gain access to expert financial oversight that can propel your business to new heights while ensuring compliance with financial regulations.
Book your complimentary consultation today. -
A Directors ID is a 15-digit identifier that, once issued, will remain with you for life regardless of whether you stop being a director, change companies, change name or move overseas.
-
All directors of a company, registered Australian body, registered foreign company or Aboriginal and Torres Strait Islander corporation will need a director ID. This includes directors of a corporate trustee of self-managed super funds (SMSF). Existing company directors have until November 2022 to arrange their number.
-
To establish a Directors ID you will need to verify your identity then apply for your Director ID through ABRS over the phone or you can apply using paper forms.
(For more information please visit https://www.abrs.gov.au/director-identification-number/apply-director-identification-number).
-
A business activity statement is how you report and pay your business taxes to the ATO. These need to be lodged every quarter. The reason most businesses need to lodge a BAS is to report and pay GST. If you need to complete a BAS, the ATO will send it to you when it is time to lodge.
-
Business advisors are responsible for planning and executing business strategies to improve efficiency in the operational and financial management of businesses.
-
Having a business advisor is extremely beneficial to your business as they can give you advice on:
- starting, buying or growing a business
- Tax (including GST and BAS statements)
- Income, deductions and concessions
- Obligations to employees (including PAYG and superannuation)
- Managing records and
- Managing Finances
Our Services
