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Understanding The QBCC MFR Regulations

Qbcc mfr regulations

A Step Towards Building Industry Stability The Queensland Building and Construction Commission (QBCC) has implemented Minimum Financial Requirements (MFR) regulations aimed at reducing business failures and bankruptcies in the building industry. These regulations are designed to ensure that all building contractors in Queensland maintain viable businesses with sufficient funds to…

Upcoming Changes in the Small Business Super Clearing House

SBSCH_Avance

Introduction The Australian Taxation Office (ATO) is implementing significant updates within the Small Business Superannuation Clearing House (SBSCH). These changes are aimed at enhancing the precision and security of superannuation contributions. As of 15 March 2024, employers using the SBSCH need to be aware of the following. modifications: SMSF Bank Account Validation…

There’s only two certainties in life, death and taxes – do you have a plan?

estate planning blog

Both death and taxes can be costly, stressful and time consuming. When it comes to dealing with tax implications on estate planning, or in the unfortunate event of someone’s passing, there can be additional pressure if appropriate tax advice and planning is not undertaken prior. In preparing to deal with…

Memories of Maryborough 1979 by Ross Mangelsdorf

memories of maryborough rugby 1979

Memories of Maryborough 1979 Introduction This photo was drawn to my attention recently. It brings back memories of my time in Maryborough, a vibrant town with a rich tapestry of experiences. Settling In Joining John Pittard's Firm I had joined John Pittard’s firm (which with Jeremy’s fathers’ firm are the…

Navigating Business Expansion: Choosing Between Buying and Leasing Plant and Equipment

Earth moving equipment

When it comes to acquiring new plant or equipment for your business, the pivotal decision of whether to buy or lease requires careful consideration. While the choice ultimately hinges on your unique circumstances, several fundamental factors can guide you in making an informed decision. Advantages of Buying Certainty and Ownership:…

Mastering Your Tax Return: A Guide to Avoiding Common Mistakes

Person using calculator

Every year, Australians navigate the complexities of tax return submissions, and common errors can inadvertently catch the attention of the Australian Taxation Office (ATO). Whether you're tackling your tax return independently or utilising a tax agent's services, it's crucial to ensure accurate reporting of income and adherence to deduction rules.…

Understanding Franking Credits: A Brief Overview

neon sign saying Tax

Overview of Dividends Companies issue two types of dividends – franked and unfranked. Franking credits, also known as imputation credits, specifically pertain to franked dividends. What are Franking Credits? A franking credit is a tax credit linked to a franked dividend. It represents the tax already paid by the company…

Unlocking the Significance of Digital Signatures: A Comprehensive Overview

Signing a document that appears through a screen

Digital signatures stand as a sophisticated subset of electronic signatures, distinguished by heightened security features that deter forgery and manipulation. When affixing a digital signature to a document, a distinctive digital fingerprint or numerical code is crafted through a cryptographic process. Issued by an authoritative entity, the digital signature serves…

The Importance of Regularly Reviewing Your Superannuation

Piggy bank with Superannuation written on it

Your superannuation is a significant asset that accumulates throughout your life, but many Australians tend to overlook it until retirement or neglect it entirely. However, taking a proactive approach and reviewing your super regularly can have a substantial impact on your financial outcomes. Here are five key reasons why you…

Car Insurance Decoded: Market Value vs. Agreed Value

Agreed Value tick. Toy car driving over coins

Choosing the right car insurance policy involves deciding between insuring your vehicle for its market value or opting for an agreed value in the unfortunate event of it being written off or stolen. Understanding the difference between market value and agreed value is crucial, especially when it comes to determining…

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