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.

In this guide, we’ll explore everything you need to know about SMSFs in 2024, including the pros and cons, key responsibilities of trustees, and whether this retirement strategy is the right fit for your financial goals. Whether you're new to SMSFs or considering making the switch, our comprehensive overview will help you make an informed decision.

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.

But don’t wait—this opportunity is time-sensitive. Initially set to benefit businesses in 2024, the threshold has been extended to June 30, 2025, as proposed in the Federal Budget. This extension provides more time to take advantage, but the window is still limited.

Our guide will help you navigate the steps needed to make the most of this tax incentive. From determining eligibility to claiming the write-off, we’ll walk you through how to maximise your tax benefits and position your business for growth.

At Cordner Advisory, we specialise in guiding businesses through the complexities of tax law, ensuring you seize every opportunity for financial gain. Don’t leave money on the table—take control of your financial future today. Contact us to learn more about how we can help you leverage the Instant Asset Write-Off and other tax benefits.

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.

Explore the latest individual income tax changes for 2024 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.

In our latest blog, delve into the world of Fringe Benefits Tax and discover insider tips for maximizing your savings. Our expert Gold Coast accountants from Cordner Advisory offer valuable insights and strategies to effectively manage Fringe Benefits Tax. Learn how to make the most of your financial planning with practical advice from one of the top Gold Coast accounting firms. Stay informed and ahead in your financial journey with Cordner Advisory's essential guide to Fringe Benefits Tax.

Navigate the 2026 Superannuation Guarantee Updates with Cordner Advisory: Our latest blog provides a concise overview of the upcoming reforms and their impact on retirement planning. Gain insights from Cordner Advisory's SMSF accountants on how these changes will enhance compliance and secure future finances. Learn how these updates, including stricter compliance measures and technological advancements, will shape the Superannuation Guarantee system. Stay ahead with Cordner Advisory, your guide to understanding and adapting to these crucial changes.

Maximise your SMSF borrowing potential with the expertise of Cordner Advisory. Our guide offers in-depth insights into real estate investments using self-managed super funds. With a focus on maximising borrowing potential, we navigate the complexities of 'single acquirable assets' and ensure compliance in loan agreements. Trust our Gold Coast team to provide personalised, strategic advice to boost your fund's borrowing potential for successful and compliant investments.

Tax season is a pivotal time, marked by evolving regulations and deductions.

In our FY2023 Tax Guide, Cordner Advisory, a premier Gold Coast accounting firm, delves into crucial topics such as rental property deductions, work-related expenses, and the intricacies of Capital Gains Tax (CGT).

Whether you're a property investor, a remote professional, or navigating asset sales, our guide offers valuable insights tailored to maximize your tax return.

Trust in Cordner Advisory to help you navigate these complexities, ensuring an informed, maximized, and compliant tax submission this season.

Are you a small business owner, who wants to capitalise on the new government incentives for the 2023/24 fiscal year? At Cordner Advisory, we excel in leveraging tax-efficient strategies to maximise asset write-offs and unravel energy incentives, ensuring your business sails smoothly through the fiscal tides. Stay updated and financially optimised with Cordner Advisory, your trusted partner in small business accounting.

Beware of ATO Impersonation Scams! With increasing sophistication in fraudulent methods, ATO scams are on the rise, preying on unsuspecting individuals and businesses. At Cordner Advisory Broadbeach, Gold Coast, we prioritise your financial safety, equipping you with the knowledge and strategies to identify and avoid such scams. Protect your assets and peace of mind by staying informed with Cordner Advisory, your trusted partner against financial deception.

Are you a small business owner who wants to avoid payroll errors? At Cordner Advisory, Broadbeach, Gold Coast we excel in leveraging tax-efficient strategies to maximise asset write-offs and unravel energy incentives, ensuring your business sails smoothly through the fiscal tides. Stay updated and financially optimised with Cordner Advisory, your trusted partner in small business accounting.

Are you a small business owner eager to tap into the government's 120% skills training and technology deductions? This rejuvenated incentive has the potential to supercharge your business growth. At Cordner Advisory, Broadbeach, Gold Coast, we specialise in crafting strategies to help you fully benefit from such deductions. Collaborate with Cordner Advisory to position yourself at the forefront of fiscal advantages.

Australian taxpayers, here's your chance to make the most of tax deductions through the ATO's guidelines on occupation-specific attire, protective gear, and distinctive work uniforms. From chefs' distinct garments to protective vests, and from compulsory uniforms to laundering costs, there's an array of potential deductions at your fingertips. And if the intricate web of regulations feels overwhelming, Cordner Advisory is here to guide you. Trust Cordner Advisory with your tax returns.

Australian car owners, there's exciting news! Starting from 1 July 2022, certain electric cars provided for private use are exempt from the Fringe Benefit Tax (FBT). This change could translate to significant tax savings. Whether you're looking at battery-powered, hydrogen fuel cell, or plug-in hybrids, it's essential to know which vehicles qualify. But with these new Fringe Benefit Tax guidelines, understanding the specifics can be challenging. Turn to Cordner Advisory, Broadbeach, Gold Cost for expert guidance. Join us to drive green and maximise your tax returns.

Navigate the intricacies of the ATO's key areas of concern this financial year: work-related expenses, comprehensive record-keeping, rental property income and deductions, and understanding capital gains, especially with the rise of cryptocurrency. For in-depth expertise, turn to our comprehensive resources or consider a consultation with Cordner Advisory accountants located in Broadbeach, Gold Coast.