This is a pre-election budget for the people with everyone getting a little something to ease cost of living pressures. Like the Price is Right gameshow, it will all come down to the price paid at the checkout. If the consumer price index (CPI) returns to target by the end of 2024 off the back of the Budget initiatives as … Read More
Tax Agent Appointment Process
The Australian Taxation Office (ATO) has implemented a new agent nomination process to enhance security and ensure that only authorised tax agents, BAS agents and payroll service providers can access your accounts and manage your tax affairs effectively. This process now applies to all entities with an ABN, except for sole traders. To simplify this process for you, we’re here … Read More
FBT 2024 PDF
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 2024 PDF
‘Closing the Loopholes’? More contentious Workplace Law changes
As trusted advisors to businesses, we at 542 Partners closely collaborate with legal experts like Nick Noonan from Henry William Lawyers. Nick recently shared his insights on the implications of the Fair Work Legislation Amendment (Closing Loopholes No. 2) Bill 2023. Here’s what he has to say about the recent changes: On 12 February 2024, the Federal Government passed the Fair … Read More