With the drastic economic impact of the Coronavirus hitting many businesses and their staff, numerous relief packages have been released that will assist with immediate cashflows for Business. The measures that may assist with your immediate cashflows are summarised below: Jobkeeper Payment What is it? A subsidy in the form of fortnightly payment of $1,500 […]
Due to the massive impact the Coronavirus is having on the cashflow of everyone, the ATO has released some measures to assist taxpayers to get through the current times. A statement by the commissioner stated: “We know that many businesses and communities are being heavily affected by the challenging economic conditions created by the outbreak […]
On March 20, the Australian Banking Association announced that banks will offer businesses who have been impacted by the outbreak, a six-month deferral for business loan repayments. It was also indicated that this deferral could extend to residential loans if needed and on a case-by-case basis. For the most up to date information, see the Australian Banking […]
The Coronavirus pandemic has already had a fast and hard impact on many businesses, with many more expected to be hit from the drop in economic activity. Protect your business and your family by looking at your strategy and taking action. […]
The Australian Government has announced an economic response to protect the economy by maintaining confidence, supporting investment and keeping people in jobs. The stimulus has targeted targets four key areas: 1 – Delivering support for business investment INSTANT ASSET WRITE OFF – From today, the Government is increasing the instant asset write-off threshold from $30,000 to $150,000 […]
Hello from the Butler team! We’re delighted to announce Butler have introduced a great new platform to help you manage your entire financial world – at home and on the go. Why you’ll love it Everything in one place: add your credit cards, bank accounts, properties, car, home loans, investments and more to easily track […]
Are your lodgements up-to-date? Your fund status will change if SMSF annual returns are late From 1 October 2019, if your SMSF is more than two weeks overdue on any annual return lodgment due date and hasn’t requested a lodgment deferral, the ATO will change the status of your SMSF on Super Fund Lookup (SFLU) […]
A brilliant business idea is only the first of many steps on the road to success. Ultimately, your success will be decided not by the idea, but its execution. Taking the time to step back, think objectively and plan for its implementation is a crucial process for any start-up, no matter how big or small. […]
What are collectables and personal use assets? Section 62A of the Superannuation Industry (Supervision) Act 1993 (SIS Act) provides that the regulations may make rules in relation to trustees of self-managed superannuation funds (SMSF) making, holding and realising investments involving collectables and personal use assets. Collectables and personal use assets include: artwork jewellery antiques artefacts […]
Sometimes SMSFs are referred to as family superannuation funds due to the ability to have mum, dad and two children as members in the fund. However, is this actually a good idea? What happens if there is a fight in the SMSF between parents and children? This article, by Bryce Figot of DBA Lawyers, considers […]
