Insights

Preparing for your 2025 tax return: What business owners need to know

As the end of financial year approaches, business owners should take stock of key developments that may significantly impact their 2025 tax return. This year, the focus shifts from legislative changes to judicial decisions, with several recent court rulings reshaping how the ATO interprets long-standing tax provisions.

David Pring

Partner

Newcastle

Insights

Our trusted Wealth advisers and who we help

PKF Wealth’s mission is to support the unique ambitions of our clients with tailored, expert advice. The recent results from our Client Engagement Research, conducted independently by CoreData, affirm the strength of our relationships and the trust our clients place in our team. Our Wealth advisers go above and beyond...

7 contributors

Newcastle, Sydney

Case Studies

Client success story: How a small business restructure turned crisis into opportunity

Running an excavation business is challenging in the best of times, but when relentless bad weather struck, this company found itself in deep financial trouble. With little to no income, they still had to pay wages and meet high purchase payments. As ATO debt piled up, they felt trapped, out...

2 contributors

Newcastle, Sydney

Insights

Understanding Division 296: What the proposed super tax really means

From 1 July 2025, the Government is proposing a new tax—Division 296—for individuals with a total superannuation balance (TSB) exceeding $3 million. If legislated, the tax would apply an additional 15% on the earnings attributed to the portion of a member’s balance above the $3 million threshold.While this has prompted...

Daniel Clements

Partner

Newcastle, Sydney

Insights

PKF “Break it down” — Trusts

What is a Trust? A trust is NOT a separate legal entity; it is a relationship. It does not pay taxes (however, DOES require lodgement of a separate income tax return) nor can it hold title over any assets. It is a vehicle in which assets are held by a...

Stacie Shaw

Partner

Newcastle, Sydney

Insights

PKF “Break it down” — Superannuation

What is Superannuation? Superannuation is cash set aside over your lifetime to assist in funding your retirement. It generally cannot be accessed until you reach an eligible age, however hardship provisions may allow early access. What are Superannuation Funds? There are two types – public offer (e.g. industry funds) and...

Stacie Shaw

Partner

Newcastle, Sydney

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

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

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

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

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

Press Releases

PKF Sydney and Newcastle announces 23 local promotions, including new Partner and Financial Adviser

PKF Sydney and Newcastle is proud to announce the promotion of 23 outstanding professionals, recognising their dedication, expertise, and contributions to the firm’s continued success. Leading this year’s promotions is Rebecca McCabe who has been elevated to Partner, a testament to her leadership and commitment to delivering exceptional client outcomes....

Emma Hansen

Head of Marketing

Sydney, Newcastle

Insights

Avoiding tax complexity for companies expanding offshore

By carefully managing the timing of a taxable presence, Australian
companies can expand offshore while keeping income tax obligations in
Australia – maximising franking credits and minimising tax complexity.

David Pring

Partner

Newcastle

Insights

Increased ATO and auditor focus on SMSF property valuations

With increased scrutiny on SMSF property valuations, trustees
must ensure valuations are based on objective, supportable data
and meet updated guidelines to avoid audit complications.

Daniel Clements

Partner

Newcastle, Sydney

Insights

AI in accounting systems

AI is transforming accounting systems! From simplifying tasks like bank
reconciliation to generating insights for better decision-making, tools like
Xero’s AI and JAX are enhancing efficiency. The future is here!

Andrew Pullen

Director, PKF Digital

New Zealand

Insights

New year – Groundhog Day, or is this the year to achieve what you want?

Ready to transition from the ‘middle phase’ to the ‘exit phase’? Regain energy and shape your business on your terms - scale back or boost dividends. The choice is yours!”

Chad Russell

Partner

Newcastle, Sydney

Insights

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