Insights

Client Update — Tax Time 2023

As another financial year approaches, now is the time to review your tax affairs. General Housekeeping tips Review debtors ledger and physically write off bad debts before year end. Review creditors ledger to ensure all unpaid suppliers’ invoices have been recorded.Review depreciation schedule and write-off any assets no longer held...

3 contributors

Tamworth

Insights

Understanding and navigating family dynamics in farm succession

Family dynamics are at the heart of farm succession planning, where relationships, roles, and expectations among family members can significantly influence the success or failure of the transition process. Ensuring a harmonious handover not only safeguards the farm's future but also maintains family unity.

Steve Meyn

Chairman

Australia

Insights

The difference between equity and equality

Quite often, the terms ‘equity’ and ‘equality’ are used interchangeably, however there are subtle yet important differences that are useful to understand as we – as individuals and as organisations – seek to attract and retain talented people, and advance as employers of choice. The Cambridge Dictionary defines equity as...

Kym Reilly

Partner

Sydney, Newcastle

Insights

Superannuation changes from 1 July 2022

Five superannuation changes effective 1 July 2022 In this year's Federal Budget, the Morrison Government announced its proposal to extend the 50% reduction to minimum pension drawdown requirements into the 2023 financial year. While the announcement remains a proposal only, we take this opportunity to outline five superannuation changes which...

Megan Mann

Partner

Tamworth, Walcha

Insights

When does your trust vest, and why you need to know?

Failing to recognise the vesting date of your trust can result in serious tax and legal consequences. Your planning opportunities are limited if this date is overlooked. What is the vesting date? The vesting date is the date upon which the existing trust relationship ends. This date is typically specified...

Evan Brownsmith

Partner

Tamworth, Walcha

Insights

Insights from the education sector

Education providers are complex organisations, faced with unprecedented challenges by an array of stakeholders, including students, staff, parents, governments (often several layers), community members and the media. It seems everyone has an opinion on the best way to educate our population, both young and old. Across PKF Australia and New...