2018
From 1 July 2019, Single Touch Payroll (STP) will be expected to be a part of the pay-as-you-go reporting cycle for small business. That’s right, no more end of year ATO reporting and statements for wages, deductions and super information.... Read more
And just like that, it’s time to look back at some of the significant legislative and policy changes that occurred this year. $20,000 instant asset write off extended The ATO extended the immediate deductibility threshold for small business until July... Read more
If you’re running a business or building personal wealth, don’t go risking it with the wrong legal structure. As a sole trader or an individual partner in a partnership, your personal assets are completely exposed to business liabilities and asset... Read more
Choosing the right accountant for your business is essential for so many reasons. But we’ll get to that in a moment. At 542 Partners, we value client relationships and have a genuine interest in guiding your business journey with smart... Read more
Aside from causing operational pain, the wrong business structure can cost hundreds of thousands of dollars over the life of your business. However, choosing the right structure can maximise tax opportunities and minimise risk, ultimately contributing to the financial success... Read more
Buying a business without conducting the right due diligence checks can mean buying a business with a chequered past. Before you ready yourself for ruling a business empire, assemble a team of experts to help you see the woods for... Read more
We believe the right tools make all the difference. As an Xero Platinum Partner, 542 Partners chooses to send documents for signing via Xero Portal. As agents, we are legally required to have all documents signed before lodging with the... Read more
Choosing your business structure is one of the most important decisions you’ll make as a business owner. Choosing the right structure can maximise tax opportunities and minimise risk, ultimately contributing to the financial success of your business. Aside from causing... Read more
Whether you’re a sole trader or in an alternate business structure, managing your personal and business finances separately is essential for good financial management. We know it’s not uncommon to use personal savings, particularly when bringing your business idea to... Read more
The growth phase for small businesses, while exciting, can be one of the hardest to manage. But with some smart technology and clever processes, growing your small business can be an exciting transition. There’s a new set of challenges to... Read more