Super choice rules will change from 1 November

Kieran BowdenSuper

542 Blog Feature

You’ll have an extra step to take if you have new employees who start from 1 November 2021 and they don’t choose a super fund. Katie, Account Manager at 542 Partners, takes you through the changes you need to know. As always, our team are here to help. If you would like assistance or have a question, get in touch.

Commercial tenancy relief extended for NSW businesses

Kieran BowdenCOVID19

Commercial tenancy relief extended for NSW businesses

The NSW Government has announced the reintroduction of the National Cabinet’s Mandatory Code of Conduct for Commercial Leasing to mandate rent relief for eligible tenants impacted by COVID-19. The Regulation applies to commercial and retail tenants with a turnover of up to $50 million who qualify for the COVID-19 Microbusiness grant, COVID-19 Business Grant or JobSaver Payment.   Relief for … Read More

Changes to the Australian Superannuation Guarantee on 1 July 2021

Kieran BowdenSuper, Uncategorized

Changes to the Australian Superannuation Guarantee on 1 July 2021

An increase to the superannuation guarantee (SG) is set to go ahead from 1 July which will see the base rate rise from 9.5 per cent to 10 per cent. Kurtis from 542 Partners breaks down what Employers should consider doing before the end of the financial year in preparation for the super rate increase.  

FBT 2021 PDF

Kieran BowdenForms, Guides, Houses Downloadable Content, Industry Info, Templates

542 Blog Image

The Fringe Benefits Tax (FBT) year ends on 31 March, which means the ATO looks closely at whether or not every employer who should be paying FBT is, and whether they are paying the right amount. To assist, we’ve outlined the ATO ‘red flags’ for employers and employees when it comes to FBT. Download our FBT 2021 PDF

FBT Client Questionnaire

Kieran BowdenForms

FBT Client Questionnaire

The Fringe Benefits Tax (FBT) year ends on 31 March, which means the ATO looks closely at whether or not every employer who should be paying FBT is, and whether they are paying the right amount. To assist, we’ve outlined the ATO ‘red flags’ for employers and employees when it comes to FBT. Download FBT client Questionnaire 2021 form.

The Balancing Act: The 2021/22 Budget Detailed Review

Kieran BowdenAustralian Budget, General

The Balancing Act: The 2021/22 Budget Detailed Review

The 2021-22 Federal Budget is a balancing act between a better than anticipated deficit ($106 bn), an impending election, and the need to invest in the long term. Key initiatives include: Extension of temporary full expensing and loss-carry back providing immediate deductions for business investment in capital assets Introduction of a ‘patent box’ offering tax concessions on income derived from … Read More

How to: Invite a user to your Xero file

Kieran BowdenBusiness Technology, General

How to: Invite a user to your Xero file

As lovers of technology, we’re big fans of helping you improve in efficiency and business processes. So with this in mind, we’ve put together another quick video, showing you step by step how to easily invite a user to your Xero file – a question we’re frequently asked on how to do. Check it out.

How to: Track P&L in Xero

Kieran BowdenBusiness Process, Business Technology

How to: Invite a user to your Xero file

Managing any business requires some number crunching and tracking the money going in and out of your company to keep your finances on track. A common question we get asked, is “how can I view my P&L by my different business units?” We’ve put together a simple step by step guide on how to set up tracking categories in Xero to easily … Read More