CFD Advisors Accountants Pty Ltd

25/03/2024

The end of March brings with it the end of the fringe benefits tax year. Fringe benefits tax is paid by employers on certain benefits provided to employees, like private use of a work car, parking, entertainment, gym memberships, and more.

Unfortunately, fringe benefits are taxed at 47%.

Cars are by far the most common fringe benefit, but there’s an interesting exemption for electric vehicles.

Learn more in this month's video or click to read the article: https://bit.ly/cfd-fbt-exemption

12/02/2024

We’ve all come back from overseas holidays dreaming of buying a property in an idyllic destination and spending extended periods of time there, or even renting it out as accommodation. It’s a fantastic idea, but if you do take the plunge, keep in mind that there are tax implications on investments and earnings.

Check out this month's video for our tips on what to look out for, and if you have any questions don't hesitate to get in touch.

18/12/2023

Have you ever looked at your MyGov account? Even if you have, there’s a good chance you don’t login very often. Which is why we’ve seen an increase in emails from clients, who have been shocked to receive a letter from the ATO telling them they have a payment overdue.

Check out this month's video for more insight, or read the article: https://bit.ly/cfd-mygov

On a final note, the year has passed and we thank you for your ongoing support. Our office will close at lunch time this Friday 22nd December and re-open on Monday 8th January 2024. We wish you and your families a safe and restful festive season and look forward to working with you again in the new year!

26/10/2023

Generations of young Australians have been sold the view that HELP debts – the loans that cover university tuition fees – are interest free. And strictly speaking, that’s true. So why are the amounts graduates owe increasing?

Check out this month's video below, or read our article: https://lnkd.in/g_y8GGq5

02/10/2023

If you're using your superannuation as a tax or savings strategy, you need to know about Division 293, the hidden super tax trap.

Read our article or watch our video on Division 293 here: bit.ly/cfd-div-293

Superannuation contributions can be a great tax and savings strategy, but as always, there are pitfalls to watch out for. Division 293 is an additional tax on super contributions that reduces the tax concession for individuals, where your combined income AND concessional contributions are more than

18/09/2023

Superannuation contributions can be a great tax and savings strategy, but as always, there's a hidden tax! Division 293 is an additional tax on super contributions that reduces the tax concession for individuals, where your combined income and concessional contributions are more than $250,000.

Learn more in this month's video, or read our article: bit.ly/cfd-div-293

31/08/2023

There’s no doubt property investment is one of the most popular wealth-building strategies for Australian families. There are plenty of benefits to the strategy, and also a few traps to be aware of.

Check out this month's video, or read the article for more info: bit.ly/cfd-CGT-kick-in

29/06/2023

If you were a federal government with a massive hole in your budget, what would you do? The current government has decided to increase tax on superannuation balances over $3 million. Now, you might say, only a tiny percentage of Australians have a super balance over 3 million, so no big deal. You might be right, but from our perspective there are two major areas of concern.

29/03/2023

The death of a parent is a challenging time. And once the initial shock passes, there comes the inevitable need to deal with their estate, which often includes the inheritance of property.

Not only is this challenging to family dynamics, but it can also raise complications and tax issues for the children who inherit the property.

CGT is a really complicated area of tax law, which often comes into play at a really difficult time for families. If we can help, please reach out.

Read the full article here: bit.ly/cfd-cgt

28/02/2023

This year the ATO is promising to crack down hard on family trust distributions to individuals and entities that don’t actually benefit from that income. In other words, the children of business owners in most cases.

Check out this month's video or click to read the full article: https://bit.ly/cfd-trust-distributions