Blog
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
We are super excited to welcome our auditing extraordinaire, Adam Brown into the fold. Adam completes our full service structure at 542 Partners and leaves no stone unturned to get under the skin of our clients businesses. Most business owners... Read more
It’s an exciting time for business owners. Thinking back 20 years ago (Craig and Adam were still in high school – just and Stu was just a young whippet), accountants were stuck behind their desks, buried under reams of paper.... Read more
Are you a nice employer? Do you shower your staff with benefits when they make their targets? Sometimes YOU need to pay to be nice. Enter > Fringe Benefits Tax. Fringe Benefits Tax (FBT) is a tax levied on benefits... Read more
A few business owners we’ve come across that have 3 or more locations start thinking: Franchising. Franchising can seem like a great option; sell your idea to others while you sit back, relax and watch your business grow… right? Wrong.... Read more
It’s a new year and a new business outlook. Out with old and in with the new. Time to shift the dead weight holding you back and it’s time to assess your relationship with your accountant. Like any break-up, hindsight... Read more
