Stafford Latest News (Queensland, Australia)

When clients sell a long-held family home, they may be able to channel part of the proceeds into superannuation by using the downsizer contribution rules.

While super is most commonly accessed at retirement, death or disability, there are limited situations where earlier access may be possible.

Running, or deciding to set up a self-managed super fund (SMSF) gives you control, but it also brings legal responsibilities.

If you run a business, you already know the juggling act that comes with managing the payroll process – paying staff on time, managing cash flow, and staying compliant.

New superannuation rules have introduced a two-tier system for high balances: *Tier 1 ($3m–$10m): Extra 15% tax on earnings from this portion (making a total rate of 30%).

Documentation and evidence are important when it comes to tax planning. In this article, let's focus on loans issued by private companies to shareholders.

While super is most commonly accessed at retirement, death or disability, there are limited situations where earlier access may be possible.

The Productivity Commission (PC) has been tasked by the Australian Government to conduct an inquiry into creating a more dynamic and resilient economy. The PC was asked to identify priority reforms and develop actionable recommendations.

In support of young Australians and in response to the rising cost of living, the Australian Government has passed legislation to reduce student loan debt by 20% and change the way that loan repayments are determined.

The superannuation guarantee (SG) rate officially rose to 12% of ordinary time earnings (OTE) from the beginning of the current tax year. This is the final step in the gradual increase legislated under previous reforms.

If you're carrying an Australian Taxation Office (ATO) debt there is a good chance that it will cost you even more from 1 July 2025 onwards. This is because from 1 July 2025 two types of interest charges imposed by the ATO are no longer deductible.

For decades, trust structures have been a cornerstone of the Australian tax and financial system, prized for their asset protection and flexibility when it comes to income distributions.

It has been a long time coming, but the Government finally passed legislation increasing the instant asset write-off threshold for the year ending 30 June 2025 to $20,000.

Are you a gig economy worker? It's essential that any income (including money, appearance fees, and 'gifts') you earn from platforms such as Airbnb, Stayz, Uber, YouTube, etc., is declared in your tax return.

Make the most of tax time with these key planning opportunities and watch-outs for businesses – from claiming deductions to avoiding ATO scrutiny. Opportunities 1.

The superannuation guarantee rules are broad and, in some circumstances, extend beyond the definition of common law employees to some directors, contractors, entertainers, sports persons and other workers.

The Fringe Benefits Tax (FBT) rules tend to apply when benefits are provided to employees and certain office holders, such as directors.

When it comes to cashflow and budgeting, knowledge is power. Having your finger on the pulse means that you can better control the direction and workings of your business.

In general, customers dislike surcharges and would be happy to see them go – they represent a personal loss of value in much the same way a discount is seen as a personal gain.

As the new year begins, let's have a look at what we can expect when it comes to interest rates and cost of living within Australia.

The Government has announced a transition plan to phase out the use of cheques. Under the plan, cheques will stop being issued by 30 June 2028, and stop being accepted on 30 September 2029.

It's important to be careful with costs in your business over Christmas. The discounting trend Consumers expect a bargain and can generally find one.

The Fair Work Commission has determined that a Philippines based "independent contractor" was an employee unfairly dismissed by her Australian employer.