Navigating Changes to Holiday Home Taxes: What You Need to Know

At Butler, we’re here to help you navigate changes in tax laws that could affect you. Here’s a breakdown of what’s happening with the Vacant Residential Land Tax (VRLT) in Victoria and what you need to do if you own a holiday home. What’s Changing? Starting January 1, 2025, the Vacant Residential Land Tax will […]

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Navigating Super Payment Due Dates: A Guide for Businesses

In the world of business, staying on top of financial obligations is paramount, and one such obligation that demands attention is superannuation payments. As per the Australian Taxation Office (ATO) guidelines, employers are required to ensure that their employees’ super payments are received by the designated funds on or before the quarterly due dates. This […]

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Navigating PAYG Instalments: A Comprehensive Guide for Businesses

Introduction: Pay As You Go Instalments, commonly referred to as PAYG Instalments, play a pivotal role in ensuring businesses and individuals in Australia meet their income tax obligations throughout the financial year. This system, administered by the Australian Taxation Office (ATO), is particularly relevant for businesses anticipating a tax liability at the end of the […]

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Important Reminder: September Quarter Super Due on October 28th

As an employer, staying compliant with superannuation obligations is crucial not only for legal reasons but also for the financial well-being of your employees. We want to remind you that the next superannuation installment, covering the September Quarter, is fast approaching, with a due date of October 28th. To help you stay on top of […]

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Mastering Your Tax for the 2023 Financial Year: Seamless Filing with Butler

As the financial year draws to a close, it’s time to ensure a smooth and efficient tax filing process. At Butler, we are dedicated to providing comprehensive support in preparing your tax return for the 2023 financial year. Here’s what you need to know to get your tax sorted: By partnering with Butler, you can […]

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ATO’s Focus Areas for Tax Time: What You Need to Know

As tax time approaches, it’s essential for Australian taxpayers to understand the Australian Taxation Office’s (ATO) key focus areas for this year. ATO Assistant Commissioner Tim Loh has identified three critical areas that often lead to mistakes: rental property deductions, work-related expenses, and capital gains tax. To ensure accurate reporting and compliance, it’s vital for […]

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Distribution Minutes-Annual Trustee Minutes

Recently, the ATO has been increasing their reviews of how taxpayers have allocated income in discretionary trusts. Failure to comply with the rules may lead to higher-than-anticipated tax liabilities. It is crucial to follow the ATO guidelines carefully to avoid any unintended tax consequences. What are Annual Distribution Minutes? Each year, a discretionary trust’s distributable […]

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Tax rate increased for Australians with super balances above $3 million

The Albanese government has announced superannuation balances above $3 million will have their concessional rate doubled from 2025. Currently, earnings from superannuation in the accumulation phase are taxed at a concessional rate of up to 15 per cent. This will continue for all superannuation accounts with balances below $3 million From 2025-26, the concessional tax rate applied […]

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