Insights

PKF “Break it down” — Pay-As-You-Go (PAYG)

What is PAYG? Pay-As-You-Go requires tax payments as income is earned (not just on lodgement of an income tax return); imposed as Withholding and Instalments. PAYGW is withheld by the payer and they remit it to the ATO (e.g. employers remit on behalf of employees; banks remit on behalf of...

Stacie Shaw

Partner

Newcastle, Sydney

Insights

PKF “Break it down” — Fringe Benefits Tax

What is Fringe Benefits Tax (FBT)? FBT is a tax that ‘catches’ benefits provided to employees that don’t have tax withheld from them the way wages normally would. Why was FBT imposed by the ATO? Employees got ‘cute’ about saying to their employer: “Rather than pay me wages, which you...

Stacie Shaw

Partner

Newcastle, Sydney

Insights

PKF “Break it down” — Division 7a

What is Division 7A (Div7a)? Div7a is legislation introduced by the ATO to stop business owners drawing cash out of their companies without paying tax on it. Why was Div7a introduced by the ATO? Business owners were drawing cash out of their business as a ‘loan’ (with no real intention...

Stacie Shaw

Partner

Newcastle, Sydney

Insights

PKF “Break it down” — Dividends/franking account

What is a Dividend? A dividend is the payment of profits by a company (or limited partnership) to a shareholder. Why are dividends “franked”? The current company tax rate is 30% (with lower rates for some eligible smaller companies). A company will generally have already paid tax on some or...

Stacie Shaw

Partner

Newcastle, Sydney

Insights

Essential insights for Multinational Enterprises

In December 2024, the ATO introduced Draft Practical Compliance Guideline PCG 2024/D3, which outlines the compliance approach for restructures of financing arrangements under the new thin capitalisation and debt deduction creation rules. This article explores the workings of these rules and their implications for MNEs' intercompany dealings. Third Party Debt...

Becky Nguyen

Partner

Melbourne

Press Releases

PKF celebrates the 2025 Water Polo Australia PD Scholarship recipients

For the third year running, PKF Sydney and Newcastle is incredibly proud to stand behind Water Polo Australia’s Professional Development (PD) Scholarship Program, a cause close to our hearts. Supporting these remarkable athletes as they chase their dreams beyond the water isn’t just an investment in their futures, it’s a...

Nicholas Falzon

Director

Sydney, Newcastle

Updates

PKF Perth become an official partner of Claremont Football Club

We are proud to announce that PKF Perth has become an official partner of the Claremont Football Club. This partnership reflects our ongoing commitment to supporting the local community and grassroots organisations.

2 contributors

Perth

Insights

ATO overhauls local file reporting: key changes explained

On 23 December 2024, the Australian Taxation Office (ATO) introduced a new local file schema and finalised instructions for reporting periods beginning on or after 1 January 2024, marking significant changes for the 2025 income year. What's new? The ATO's new local file schema aims to gather more detailed and...

Becky Nguyen

Partner

Melbourne

Insights

Coalition budget reply 2025

In their 2025 Budget reply speech, opposition leader Peter Dutton outlined several key measures aimed at addressing Australia's economic challenges and setting the Coalition's agenda ahead of the May 3 federal election.

David Pring

Partner

Newcastle

Insights

Shake It Up Australia Foundation: Leading the charge for Parkinson’s research in Australia

April 11th marks World Parkinson’s Day, a moment to reflect, raise awareness, and rally support for those affected by Parkinson’s disease.

38 people are diagnosed with Parkinson's everyday in Australia, and so to commemorate the day, the PKF Perspective Podcast hosted a special conversation with Vicki Miller, CEO of the Shake It Up Australia Foundation; a not-for-profit organisation laser-focused on funding Australian Parkinson’s research.

Emma Hansen

Head of Marketing

Sydney, Newcastle

Insights

The value of a Business Advisor: More than just numbers

In the world of business, entrepreneurs often find themselves navigating challenges that extend far beyond financial statements and budgets. While many perceive business advisors as purely technical consultants focused on numbers and growth strategies, the reality is far more nuanced. For an experienced business advisor, the role is fundamentally about...

Jackie Marriott

Partner

Newcastle, Sydney

Insights

Pulse April 2025 — MD Welcome

We are now well into 2025 and it’s been an exciting and dynamic start to the year for us. From major office transformations to impactful partnerships and inspiring events, we are building momentum for what promises to be another outstanding year.

Bob Bell

Managing Director

Sydney, Newcastle

Insights

New legislation stopping the deductibility of General Interest and Shortfall Interest Charge in Australia

They say death and taxes are inevitable, but at least historically you used to be able to claim a deduction on the latter’s interest charges. In this regard, the Federal Government has decided to tighten the rules. General Interest Charge (GIC) and Shortfall Interest Charge (SIC) incurred after 1 July...

Garry Mathoda

Director

Sydney

Insights

Reflecting on the incredible 2025 PKF Australia Business Advisory Conference in Newcastle

Newcastle set the stage for a conference that blended learning, collaboration, and connection – delivering insights that will tangibly influence our Real Life.

Angela Lenehan

Senior Manager

Sydney

Insights

Take 5 with Alex Honner

Q. Do you have a career highlight so far? Definitely my secondment to PKF Littlejohn in London in 2024. I worked with their Technology Change and Innovation team for the year, and gained invaluable experience building different dashboards, automated flows and apps to meet the firm’s needs. Overall it was...

Alex Honner

Senior Manager

Insights

New laws criminalising wage underpayments

Ensuring employees receive their rightful wages is a fundamental aspect of fair employment practices. In line with this commitment, the Australian government has introduced new laws that criminalise the deliberate underpayment of wages, commonly referred to as 'wage theft.' These legislative changes carry significant implications for businesses, making compliance with...

2 contributors

Sydney

Insights

What the proposed non-compete ban means for you | The 2025 Federal Budget

The Australian Government has announced plans to introduce legislation that will effectively ban non-compete clauses for workers earning under the high-income threshold of the Fair Work Act, currently set at $175,000. This move is part of a broader effort to increase competition in the labour market and drive economic growth....

Georgett Coleman

Partner

Brisbane

Insights

Is your business ready for sustainability reporting?

Mandatory climate reporting began in early 2025, Australian businesses must act now to understand their reporting obligations and prepare accordingly. Whether you're a Group 1 company required to report immediately or a Group 2 or 3 business preparing for compliance over the next few years, understanding your current position, identifying...

2 contributors

Perth, Brisbane

Insights

Prawn or oyster anyone? Another year of successful Aussie BBQ’s

The Aussie BBQ isn’t just about the excellent F&B and Aussie rock playlist – it’s about strengthening relationships, sharing stories, and kicking off the year with the people we value in our network.

Tony Doyle

Chief Operating Officer

Sydney, Newcastle

Insights

PKF Sydney and Newcastle celebrates third year as official financial services partner of the nib Newcastle Knights

Celebrating three years as the official financial services partner of the nib Newcastle Knights, PKF is proud to continue supporting local sports and community growth through this enduring partnership.

Clayton Hickey

Partner

Sydney, Newcastle

Insights

Congratulations to our graduates of Thrive and Lead and Dare to Aspire!

Newcastle set the stage for a conference that blended learning, collaboration, and connection – delivering insights that will tangibly influence our Real Life.

Steve Meyn

Chairman

Australia

Insights

PKF Sydney and Newcastle announces exciting office refurbishment

This exciting office refurbishment at PKF Sydney and Newcastle is not just about upgrading our space – it’s about creating a collaborative, inspiring environment that enhances both our team’s productivity and our clients’ experiences.

Andrew Beattie

Director

Newcastle, Sydney, Port Stephens

Insights

Investing in ATO compliance – The 2025 Federal Budget

The 2025 Federal Budget has allocated nearly $1 billion towards strengthening tax avoidance and compliance measures. A significant portion of this funding will support the Tax Avoidance Taskforce, which is dedicated to ensuring that Australia’s largest taxpayers, including multinational corporations, contribute their fair share. The remainder has been committed to...

Anthony Russo Battagliolo

Partner

Perth

Insights

2025 – 26澳大利亚联邦预算：在减债、生活成本纾困与经济增长之间寻求平衡

2025-26澳大利亚联邦预算：在减债、生活成本纾困与经济增长之间寻求平衡

2 contributors

Melbourne

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