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PKF Australia

Accountants and Business Advisers

Our Blogs

04 09 2018

Family Loans and the Family Court

We love our children. We sometimes give them money to assist in buying cars, property, undertake renovations and do other things. Is it a loan or is it a gift?

04 09 2018

What Makes an Outstanding Business?

When you look at your main competitors there always seems to be those who do well no matter what the economic climate is like. Why? Given today’s difficult business environment, this is an opportune time to briefly outline some key attributes of a great business.

04 09 2018

Why you should encourage whistleblowing in the workplace

Whistleblowers have been found to be one of the most likely means of detecting fraud and corruption, according to the findings of the Association of Certified Fraud Examiners (ACFE) in its “Report to the Nations” 2018.

10 08 2018

Top of ASIC Agenda – Impairment Assessments

As we roll past the 30 June 2018 financial year end, many companies will be turning their attention to the preparation of annual impairment assessments over their major assets. As in previous reporting periods, the Australian Securities and Investments Commission (ASIC) continues to have a significant focus on impairment testing and asset values.

10 08 2018

Increased Focus on Director Obligations

It’s fair to say that the expectations and skill sets demanded of company directors has never been higher. With significant requirements around corporate governance, keeping abreast of corporate regulations and other relevant legislation – not to mention the ever-dynamic changes in financial reporting and accounting standards – being a Director in these current times is challenging.

10 08 2018

The Landscape of Governance in 2018

In late May/early June, the Governance Institute of Australia held a series of Governance and Risk Management Forums across Australia. PKF was pleased to act as national sponsor for these events and to have an active role in each Forum as they moved across the country exploring current themes.

10 08 2018

Accounting for the Research & Development Tax Incentive

Lately, we are increasingly being asked for guidance on the correct accounting for Research and Development (R&D) Tax Incentives received. As an investment tax credit is accounted for either as a government grant or as income tax or as both but alarmingly it falls outside the scope of both relevant accounting standards AASB 112 Income taxes and AASB 120 Accounting for Government Grants and Disclosure of Government Assistance.

10 08 2018

Have You Assessed the New Accounting Standards Yet?

As we enter into another financial reporting season, financial report preparers are in the process of drafting their annual reports.

20 07 2018

Who Is Responsible To Pay GST On New Residential Property After 1 July?

Effective 1 July 2018, if you plan on purchasing new residential property or potential residential land, you (the purchaser) will be required to withhold GST on settlement and pay this amount directly to the Australian Taxation Office (ATO). Prior to this, it was the seller’s responsibility.

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