Combat cost-of-living hikes and keep saving

Cost of living pressures coupled with rate rises have made it more difficult to save for a home deposit and afford the lifestyle you’ve either become accustomed to or are dreaming of. Budget Direct’s Cost of Living Survey & Statistics 2023 found that despite the living cost index for employee households recording its largest quarterly … Read more

Tax Alert March 2024

New controls for ATO Online and tax charges non-deductible Following the use of stolen personal data to access ATO Online accounts, the federal government has tightened the access rules to online tax accounts as part of an increased focus on the vulnerability of small and medium businesses to cyber incidents. ATO interest non-deductible From 1 … Read more

Self-managed super fund (SMSF)

A self-managed super fund (SMSF) is a private super fund that you manage yourself. SMSFs are different to industry and retail super funds. When you manage your own super, you put the money you would normally put in a retail or industry super fund into your own SMSF. You choose the investments and the insurance. … Read more

Navigating FBT and your obligations

Businesses looking to attract and retain staff often provide employee benefits, on top of salary, as a way to sweeten the deal. Many of these benefits (but not all) can have potential tax consequences – known as fringe benefits tax (FBT) – so it is important to weigh up the effect on your business. FBT … Read more

Securing your passwords online

We spend a lot of time online and don’t often think about the risks involved. Yet if we are not careful, we can make ourselves vulnerable to criminal activity such as hacking, phishing, and identity theft. The annual Cyber Threat Report announced in 2023 a 23% year-on-year increase in cybercrimes in Australia, amounting to a … Read more

The 5 big issues facing business owners in 2024

As 2024 kicks off, Australia’s two million plus small business owners face fresh economic challenges and a whole new world of game-changing technology. Those are the findings of the second annual The Big Small Business Survey, conducted by five Australian business owners (including me), writes Katrina McCarter. Overwhelm is a key issue. There are countless options … Read more

How to protect your finances after redundancy

Understanding your redundancy payout According to ASIC, a redundancy payout can be made up of any of the following: a severance payment an incentive payment a payment in lieu of notice unused annual leave and long service leave. Regardless of its makeup, in most cases you’ll get a lump sum when you finish your role. The amount … Read more

ADRIAN GARRONE

MANAGING PARTNER

B.Com, CA, MBA

Email:  adrian@advantageaccountancy.com.au

Adrian began his career working for the Australian Taxation Office as an Assessor in 1986. A decade later he set up his own accountancy practice in Cairns and has been a public accountant since that time.

Over the years, Adrian has grown from invaluable experiences in business to become an exceptionally astute businessman. This is demonstrated not only by the success of his own accountancy practice, but also through his successes as a developer, franchisee and Director of the National Basketball League. Some of his accomplishments in business include opening the first Bakers Delight franchise in Cairns and steering the Cairns Central Muffin Break store to the top of the state in sales during his ownership.

As a hands-on business owner, Adrian understands the challenges, both big and small, faced by business owners. With over 25 years in the accounting and financial arena, he has developed long standing relationships with some of Cairns’ leading small businesses. His unique ability to interpret a business’ financial stand point and consider options available to them provides his clients with personalised advice specific to their needs.

Adrian is a Chartered Accountant, Registered Tax Agent, Fellow Chartered Financial Practitioner and has also completed a Masters of Business Administration (MBA) through Deakin University.

Liability limited by a scheme approved under Professional Standards Legislation