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 ATO. By making the process digital, we hope to streamline the process and make it easier for you to view … Read More
How to avoid blurring the lines between business and personal finances
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 life, but as your business grows, it’s important to track business and personal incomings and outgoings separately. Spot The Difference … Read More
Long Service: Building and Construction Industry Essentials
Did you know we spend about 80 per cent of our lives working? Under the Long Service Leave Act 1955, once an employee reaches 10 years of continuous service with an employer, they become eligible for Long Service Leave. This time can then be taken by the employee for an extended break or in some cases can opt to receive a … Read More
Long Service: What Building and Construction Industry Employers Must Know
Traditionally designed to reward employees who stayed with the one employer for a period of service, long service leave in this form has quickly became inaccessible to most Australian workers. For workers in the building and construction industry, the thought of long service leave seems only a distant dream. Whether it’s contract tenures or simply site availability, long service for … Read More
2018/19 Budget changes that may affect your business.
Reward for work is a dominant theme in this year’s Budget. The seven year personal income tax plan initially targets low to middle income earners before making significant changes to the tax brackets. While there’s much to be said about the complete budget, we’ve reviewed the key highlights that may affect your business. $20k accelerated depreciation extended until 30 June … Read More
The accountant and the bookkeeper: A match made in financial heaven
With 1,440 minutes in a day, it’s no surprise small business owners hustle to make every minute (and dollar!) count. We know tracking financials can be a chore, but it doesn’t have to be. Tell-tale signs you need a bookkeeper No time to work on the business You don’t understand your compliance requirements You don’t understand your cash flow Invoices … Read More
Let Xero Portal do the heavy lifting of your document management
When your to-do list is long and time is short, the right tools can make all the difference. Xero Portal is just one simple, easy and legal way to sign declarations without the hassle of printing, signing, scanning and sending it back: just another reason why we love Xero. 542 Partners chooses to send documents for signing via e-signature platforms … Read More
Spotlight on Tradies: Solutions for 2018 and beyond
If our recent blog got you thinking, then we’ve got you covered. The New Year may be just around the corner but that doesn’t mean you can’t make some business resolutions now. To get you inspired, check out our top 3 ways to boost productivity and profits for a successful 2018. Get Your Business In Shape Money matters, so it … Read More
Spotlight on Tradies: Issues affecting trades people in business. What you need to know.
Long hours and physical demands characteristically common of tradespeople, often sees financial and business obligations not given the right amount of attention. As a result, in correct structures, missing legislative requirements and licences and paying penalties can play havoc with cash flow and hamper the path to success. Below we’ve outlined some common pitfalls many tradies face in business. Employee … Read More
9 Simple Steps To Prepare Employee Payment Summary With Xero
If you’re on Xero, providing your employees with their payment summaries and submitting them to the ATO has never been easier! From anytime after 30 June you can prepare your employee payment summaries. You must send to your employees by 14 July and to the ATO by 14 August. Check out these 9 simple steps below and you’ll be all … Read More