What are the opening hours?

Monday 9am - 5pm Tuesday 9am - 5pm Wednesday 9am - 5pm Thursday 9am - 5pm Friday 9am - 5pm

Wakefield Business Group, 15 Beulah Road, Adelaide (2026)

We specialize in providing comprehensive taxation and accounting services tailored for small to medium businesses. With a rich history dating back to 1973, Wakefield Business Group (WBG) has established itself as a trusted and reliable partner. Led by our founder, Prem Singh, a highly experienced Chartered Accountant with over 45 years of expertise, including four years in a renowned 'Big4' accoun

ting firm and 40 years as a successful sole practitioner, we bring a wealth of knowledge to the table. At WBG, we take pride in offering a diverse range of services to our clients, ensuring their financial well-being. Our services encompass Accounting, Financial Planning, Finance Broking, and Bookkeeping, making us a one-stop shop for all your financial needs. Whether you are an individual or a small business, we are dedicated to assisting you and effectively managing your financial affairs in line with your unique goals and risk profile. Our commitment to delivering personalized solutions sets us apart and ensures your financial success.

30/07/2026

𝗔𝗠𝗟/𝗖𝗧𝗙 𝗧𝗿𝗮𝗻𝗰𝗵𝗲 𝟮 𝗛𝗮𝘀 𝗖𝗼𝗺𝗺𝗲𝗻𝗰𝗲𝗱 – 𝗪𝗵𝗮𝘁 𝗬𝗼𝘂𝗿 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗡𝗲𝗲𝗱𝘀 𝘁𝗼 𝗞𝗻𝗼𝘄

Australia's Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) reforms have now expanded to include many accounting firms, legal practices, real estate professionals and trust and company service providers.
As a result, you may notice some changes when engaging with your accountant.
These changes are part of new Australian legislation designed to strengthen the integrity of the financial system and help combat money laundering, terrorism financing and other financial crimes.
What does this mean for you?
If Wakefield provides certain services for you or your business, we may ask you to provide additional information before we can commence work.
This may include:
Proof of identity
Details of company directors, shareholders or beneficial owners
Information about trusts and beneficiaries
The purpose of certain transactions or business activities
Supporting documentation where required
These requirements are now part of Australian law and apply to many professional service providers.
Why are we asking for more information?
The new AML/CTF laws require firms like Wakefield to:
✔ Verify the identity of clients
✔ Understand who ultimately owns or controls businesses and trusts
✔ Assess money laundering and terrorism financing risks
✔ Maintain appropriate records
✔ Report suspicious matters to AUSTRAC where required by law
These obligations help protect businesses, the Australian financial system and the wider community from financial crime.
What do you need to do?
If we request additional information during your engagement, simply provide the requested documents as soon as possible.
Providing this information early will help us complete your work efficiently and avoid unnecessary delays.
We're Here to Help
We understand these additional compliance requirements may be new for many clients.
Our team has implemented the necessary systems to ensure the process is as simple and secure as possible while continuing to deliver the professional service you expect from Wakefield.
If you have any questions regarding the new AML/CTF requirements or how they may affect you or your business, please contact our team.
We're always happy to help.

17/07/2026

**𝗣𝗮𝘆𝗱𝗮𝘆 𝗦𝘂𝗽𝗲𝗿 𝗶𝘀 𝗵𝗲𝗿𝗲. 𝗜𝘀 𝘆𝗼𝘂𝗿 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗿𝗲𝗮𝗱𝘆?**

From 1 July 2026, quarterly super contributions are gone. Employers across Australia are now required to pay superannuation on every single payday — no exceptions.

This is more than a payroll tweak. It's a fundamental shift in how your business manages compliance and cash flow. More frequent contributions mean tighter timelines, less flexibility, and zero room for oversight. If your payroll processes, systems, or cash flow planning haven't been reviewed, now is the moment to act.

The lead time is short. The consequences of getting it wrong — ATO penalties, missed obligations, reputational risk — are not. Every Australian business with employees is affected.

📌 Start with our quick guide below.

09/06/2026

Federal Budget 2026-27: Key Announcements

23/04/2026

𝗔𝗿𝗲 𝗬𝗼𝘂 𝗔𝘄𝗮𝗿𝗲 𝗼𝗳 𝗠𝗼𝗻𝗲𝘆 𝗟𝗮𝘂𝗻𝗱𝗲𝗿𝗶𝗻𝗴 𝗥𝗶𝘀𝗸𝘀?

The way businesses are expected to identify and prevent money laundering is evolving rapidly. With stricter Anti-Money Laundering (AML) regulations and
increased scrutiny from regulators, staying compliant is no longer optional it’s essential. Authorities are placing greater emphasis on transparency, reporting, and
accountability across all industries.

These changes are already underway, so now is the time to review your processes and strengthen your controls.

𝗞𝗻𝗼𝘄 𝗬𝗼𝘂𝗿 𝗖𝘂𝘀𝘁𝗼𝗺𝗲𝗿 (𝗞𝗬𝗖):
Businesses must properly verify customer identities and understand the nature of their transactions. This applies not only to new clients but also requires ongoing monitoring of existing relationships.

𝗧𝗿𝗮𝗻𝘀𝗮𝗰𝘁𝗶𝗼𝗻 𝗠𝗼𝗻𝗶𝘁𝗼𝗿𝗶𝗻𝗴:
Unusual or inconsistent financial activity must be identified and reviewed. Large cash movements, complex transaction chains, or payments that don’t align with a client’s profile can all be red flags.

𝗥𝗲𝗽𝗼𝗿𝘁𝗶𝗻𝗴 𝗢𝗯𝗹𝗶𝗴𝗮𝘁𝗶𝗼𝗻𝘀:
Suspicious matters must be reported promptly to the relevant authorities. Delays or failure to report can lead to significant penalties and reputational damage.

𝗦𝘁𝗿𝗼𝗻𝗴𝗲𝗿 𝗖𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲 𝗠𝗲𝗮𝘀𝘂𝗿𝗲𝘀:
Regulators are increasing enforcement actions, with heavier fines and stricter penalties for non-compliance. Businesses are expected to maintain clear records
and demonstrate active risk management.

𝗪𝗵𝗮𝘁 𝘁𝗼 𝗱𝗼 𝗻𝗼𝘄?
Review your internal policies, train your staff to recognise warning signs, and ensure your systems are capable of detecting and reporting suspicious activity. Taking proactive steps today will help protect your business and keep you compliant in an increasingly regulated financial environment.

Address

15 Beulah Road
Adelaide, SA
5067

Opening Hours

Monday	9am - 5pm
Tuesday	9am - 5pm
Wednesday	9am - 5pm
Thursday	9am - 5pm
Friday	9am - 5pm

Telephone

+61884108999

Website

https://www.wbgsa.com.au/

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