PKF Australia

Accountants and Business Advisers

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21 01 2021

Lessons to be learnt from 2020 for 2021 in regards to new accounting standards

2020 was a big year for financial reporting, mostly influenced by COVID-19, but with some other significant changes thrown into the mix. While it has been challenging, hopefully we have taken some lessons away and have grown from the experience. Here is a recap on the areas of accounting that challenged us for 2020:

20 01 2021

Tax planning opportunities for trustees and their accountants

There has been a raft of new changes and legislation for SMSFs in recent years but there are some small but important tweaks which trustees and their accountants need to be aware of for tax planning opportunities.

13 01 2021

Seven leadership qualities that will make you a more effective leader

All leaders are different, and there are many characteristics that make up a great leader. Working out your own style and what type of leader you would like to be can help take your skills to the next level. Many people believe that if they are not displaying what are perceived as the ‘stereotypical’ leadership traits, such as being outspoken, they will never possess excellent leadership qualities. This could not be further from the truth.

05 01 2021

Take 5 with Senray Loy

Senray Loy is the PKF Sydney & Newcastle Employee of the Year for FY19/20. Ever the professional, Senray is known in the Business Recovery and Insolvency Team as a cool head no matter the situation. His team look up to him and learn from his calm attitude and high quality work. This has led to him being seen as a rising star within the team and with clients and referrers who are confident in appointing Senray directly with high profile engagements.

28 12 2020

Five areas of focus for Clubs in 2021

This has been a tumultuous year for Registered Clubs, with numerous challenges and risks arising from the pandemic along with ongoing uncertainties. Social distancing and health guidelines throughout 2020 have changed many services to members, as well as the flow of people through venues. This has had a dramatic effect on gaming performance and F&B offerings.

14 12 2020

Surcharge Land Tax on residential land owned by discretionary trusts

Discretionary Trusts that own residential land in NSW and which do not specifically exclude foreign persons (as defined) as beneficiaries, will be subject to surcharge Land Tax. Such trusts have until 31 December 2020 to amend their Trust Deed.

09 12 2020

Watch Out for New Insolvency Laws in 2021

A wave of insolvencies is expected in 2021 as the economic COVID-19 related measures introduced by the Government come to an end. Businesses, creditors and advisors should be aware of the impact of the small business insolvency reforms.

02 10 2020

ARITA announces key timing issue in COVID-19 temporary relief measures

Australian Restructuring Insolvency & Turnaround Association (ARITA) announced on 29 September 2020 that it has “become aware of a key timing issue in the COVID-19 temporary insolvency relief measures that has not been widely appreciated.”

24 09 2020

Key Dates and Action for JobKeeper 2.1 – Extension Period 1

The following summary seeks to outlines different considerations an Eligible Employer will need to review to comply with JobKeeper 2.1 – Extension Period 1, including key dates and actions for employers, actual deadline in turnover, reference period and payment rate.

16 09 2020

COVID – Regression or Progression?

...it should always be a ‘three-way’ forecast – that is, forecasting profit, cash and balance sheet to give a comprehensive picture.

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