Butlers Blog

This week the Australian Government released its economic response to the coronavirus (COVID-19). Part of this includes some very good concessions for businesses through the ATO. 1. Tax Incentives for  Business Investment - Instant Asset Writeo...

If your business has been affected by the coronavirus (COVID-19), you may be able to apply for a relief package to defer lodging and paying payroll tax returns until 31 July 2020. Eligibility You may be eligible for the relief package if: ...

The ATO has launched a new text message alert service from February 2020 for SMSF Trustees. These messages are legitimate and real and are not scams.  The ATO has advised these messages are now in place to safeguard your retirement savings and ...

Directors will have a personal obligation to ensure that the companies they run either pay their GST debts or are placed into liquidation.  If this does not occur then the ATO can issue Director Penalty Notices to make the directors personally l...

 ASIC have released a fact sheet comparison between Self Managed Superfunds and Industry funds. Some key points: Generally, SMSF's with balances under $500,000, on average,  have lower returns after expenses and tax compared to industry an...

On 18 September 2019, the Government introduced the Treasury Laws Amendment (Recovering Unpaid Superannuation) Bill 2019 (the Bill), which allows non-complying employers to self-correct any unpaid superannuation guarantee (SG) amounts...

The ATO has announced a two-month lodgement and payment deferral to taxpayers affected by recent bushfires across the east coast. ATO acting deputy commissioner Andrew Watson said that people affected by the fires should focus on getting thei...

The ATO is warning tax payers to be on high alert to scammers. the ATO has seen an increase in scam phone calls, especially those using software that resembles a legitimate phone number to disguise the caller’s true identity.. The ATO urged people ...

The super downsizer scheme commenced on 1 July 2018 and has allowed older Australians to sell their homes and contribute up to $300000 of hte proceeds from the sale into super. Recent figures from the ATO show more than 5000 Australians have made th...

The majority of people who set up their own SMSF say that "control" is a big reason for doing it. There is flexibility and benefits in running their own superannuation fund, but it is also a big responsibility to make sure you fund grown and provides...