2014
If you’re a business owner, planning for retirement can fall down the list of priorities. With an ageing population and mounting costs of living, ‘super’ is an important consideration for all Australians, but even more so if you’re a business... Read more
There are oodles of accounting software packages on the market, particularly for small and medium sized businesses. And at 542 you we love our technology, so we’ve always got our fingers on the pulse looking for the best solutions for... Read more
Industry commentators are predicting as baby boomers move to retirement there will be a surge of established businesses becoming available for purchase. And as the economy continues to improve, it may just be the perfect time to fulfil your dream... Read more
As the dust settles on the last financial year and businesses look to start fresh, some business owners fear a looming audit. No doubt the folks at the ATO are clever and thanks to technology they’re getting even cleverer. Last... Read more
June 30 is looming and it’s the most wonderful time of the year! Tax time is great. 542 clients are relaxed and know exactly what to expect while their colleagues, partners, friends and family wonder what the end of financial... Read more
Planning on giving to charity? Make a donation now and claim the deduction this year. If you donate monthly to charities, think about paying the full year’s worth of donations upfront and take the deduction now. Operate through a company?... Read more
In 2013 the ATO started a program intended to enforce timely lodgement, where taxpayers who haven’t lodged their tax returns and activity statements by their due dates could be referred to an external collection agency for follow up. This extended... Read more
Keeping good small business records mean so much more than knowing which records to keep and for how long. In many cases it means the difference between failure and success. Why keep records? Business record keeping should include setting up... Read more
Self managed superannuation funds or SMSFs are growing in popularity. Some figures have suggested that 31% of Australian retirement savings are held through self managed superannuation funds, out performing industry and/or retail funds. Why self-managed super? There are three main... Read more
Last week, treasury boss Martin Parkinson reignited the GST debate by insisting that the GST must rise to 12% as a deficit decade looms for budget. While the debate has been bubbling along since the introduction of the GST, it... Read more
