Tax

It’s no secret we love Xero! And even though the platform is super user friendly and easy to navigate, there are hidden hacks that our savvy senior accountants, use every day. Never ones to hold onto our knowledge, check out... Read more

With less than four days until the end of the 2018/19 Financial Year, it’s time to pull out that tax time check list and make sure everything is in order. Particularly this financial year, there have been significant changes to... Read more

With June 30 fast approaching now is the time to start preparing for end of financial year. If you’re not sure where to start, keep reading for your guide to setting your budget and streamlining the tax process this financial... Read more

If you missed the recent announcement of the 2019/20 federal budget, 542 Partners has you covered! The ‘Ballot Box’ budget is designed to showcase the return to surplus and engage voters with initiatives to make them feel like they are... 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

While most people would assume we’re pedal to the metal for tax time, it’s pretty much business as usual. We’ve been discussing tax planning with our clients over the past 12 months. Sure, we’ll give them a gentle reminder to... Read more

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... Read more

Most business owners wonder how to claim GST for their business. Little do many realise that there are three essential elements to claiming a deduction for a business purchase in your activity statement. Check your eligibility If your business turnover... Read more

With the silly season behind us, we’re urging small businesses to check they didn’t extend their party invitations and gifts to the tax man. We don’t mean to sound like the Grinch, but it may be worth considering the following... Read more

With small businesses accounting for $12.5 billion in overdue tax, it’s no surprise the Australian Tax Office (ATO) is reprioritising tax debt in order to balance the budget. From 1 July 2017, small businesses will risk outstanding debt being disclosed... Read more