ABTAC Accounting

26/02/2026

We write with profound sadness to inform you of the passing of David Cornes of ABTAC Accounting.

Recently, David was involved in a cycling accident and was taken to Gold Coast University Hospital for treatment. Dave was recovering well but unfortunately experienced further medical complications and passed away peacefully yesterday.

This is an incredibly difficult time for David’s family and for all of us at ABTAC Accounting. We know many of you had long-standing professional and personal relationships with David, and we share in the deep sense of loss felt across our community. We respectfully ask that the family’s privacy be honoured as they navigate this period of grief.

Please be assured that ABTAC Accounting remains fully operational. Arrangements are in place to ensure continuity of service, and your accounting, taxation, and advisory matters will continue to be managed with the same professionalism, confidentiality, and care that David was so committed to providing.

If you have any urgent queries or require assistance, please contact Virginia Martin at 0423 048 800 or [email protected], and we will respond as promptly as possible. Many of you would have dealt with Virginia in the past, she is a registered tax agent in her own right and is also a Chartered accountant with more than 20 years of experience and more than 5 years working alongside David.

We sincerely appreciate your understanding, support, and continued trust during this challenging time.

Kind regards,
Virginia Martin
CAANZ, Registered Tax Agent

07/05/2025

It's time to get ahead of your returns. 

Mark got more back on his and set up some solid strategies for next year.

If you're ready to do the same, we can make tax time work for you. Thanks Mark for your kind words. 

Learn more by visiting our site abtac.com.au or calling our team on (07) 5610 1945

30/04/2025

Maximise Your Property Portfolio

Understanding depreciation can make a big difference for property investors.

David explains how you can claim deductions on fixtures, fittings, and furniture, which is one of the biggest perks of investing.

But keep in mind, when you sell, that depreciation is added back into your capital gains calculation. If you’ve held the property for over 12 months, you’ll get a 50% discount on that gain.

For those with an SMSF, turning 60 opens up an interesting strategy. Because you’ve met a condition of release, you can take that money out and even live in the property.

This could become a popular approach for those struggling to enter the housing market.

Want to know how these rules apply to you? Call David at (07) 5610 1945 for expert advice. You can also visit abtac.com.au to learn more!

29/04/2025

Big news for business owners 💥

From tax cuts for sole traders to energy bill relief, these announcements in the could impact your bottom line. 

Planning is everything. Take advantage of these changes and set yourself up for success. 

If you want to know how these changes could affect you, contact David from ABTAC Accounting at (07) 5610 1945 to get ahead. 

abtac.com.au

24/04/2025

Lest we forget.
We, like all Australians, experience a lot of pride, sadness and gratitude on ANZAC Day. It's a day to remember and pay our respect to the brave souls that fought for the beautiful country we live in.

Our team will be taking a moment of silence to commemorate ANZAC's and we encourage everyone to do the same. 

*A reminder that we are closed today. We are back on Monday.

22/04/2025

🌧️ Did your business take a hit this year?

A Tax Loss Carryforward can help you.

By applying this strategy, you can offset future taxable income with past losses, reducing your tax bill down the line. It's a great way to keep cash flow steady even after a tough year.

Let’s say your business loses $10,000 this year. You don’t have to forget about that loss — next year, if your business makes $15,000, you can subtract the $10,000 loss from it and only pay tax on $5,000.

It’s a way for the tax system to be fair — since businesses don’t always make money every year, you can “carry forward” losses to help even things out when times are better.

If you want to know how a Tax Loss Carry Forward can be organised for your business, reach out to us at ABTAC Accounting  📞 07 5610 1945

Learn more about us online at 🔗 abtac.com.au

18/04/2025

We're spending time with family and friends  🐰
Happy Easter from all of us at ABTAC Accounting! We're enjoying this sunny Good Friday here on the Gold Coast with plenty of seafood. Like us, you probably invested in plenty of $17 bunnies.

Our challenge for you this long weekend is to eat plenty of chocolate, enjoy this Autumn weather (winter is on the way now) and have a good old laugh.

If you get a spare minute you can always email through your information for January to March BAS (which is due on the 28th of April).

*We're back in the office on Tuesday to organise your Q3 BAS, build your tax strategy and recover from a chocolate coma.

Got a question about finance, tax, money or investing? Contact ABTAC Accounting on Tuesday 📞 07 5610 1945
https://bit.ly/ABTACAccounting

16/04/2025

Get ahead of the game 🏘️
Updates for property investors... here's how you can stay ahead of the game.

The brings changes that could affect your investments, from new tax compliance measures to shifts in foreign buyer rules and the rental market.

Make sure your investment strategy is up to date. Get in touch with us today to discuss how these changes might impact your property portfolio.

Call David at ABTAC Accounting on (07) 5610 1945 or visit us at abtac.com.au

14/04/2025

The tax man always knows!

He knows when you've sold shares, property, and even .

That info will show up in your pre-fill, so it’s crucial to make sure you’ve got all the details and accurate records. Don’t miss anything when filing your tax! ✅

Need help getting everything in order this EOFY? Get in touch with us today for tax peace of mind. Contact David on (07) 5610 1945 or visit us online by searching abtac.com.au

14/04/2025

David in action figure form 💼 the complete package.

Complete with full access to Excel on a (somehow more than) daily basis, strong caffeine and plenty of documentation (even in the digital form).

The ABTAC Action figure represents the ultimate fight for strategic bookkeeping, maximum profits and minimal tax. 

Of course, we had to jump on the Action Figure trend for your favourite Gold Coast business, tax, investor and planning Accountant. We must say, David really suits the blazer.

Remember, if you're looking for a local accountant that puts you first, speak with David and our expert team. 📞 07 5610 1945 OR give us a Google 🔗abtac.com.au

13/04/2025

2 weeks to go!

All eligible workers’ super guarantee (SG) needs to be paid in full, on time, and to the right fund.

If you employ staff who are eligible for super, don’t forget:

👉 you need to allow extra processing time if you use a clearing house. Payments are only considered ‘paid’ when they reach your employees’ super fund account
👉 the SG rate will increase from 11.5% to 12% on 1 July 2025. The rate of 12% will need to be applied for all salary and wages paid on and after 1 July 2025. This is even if some or all of the pay period it relates to is before 1 July 2025.