Thorntons Accountants & Business Advisors

20/06/2026

Farmers traditionally rely on trusts for asset protection and flexibility, but companies are now challenging this status quo. Companies offer the enticing possibility of a 25% tax rate and added asset protection, especially when separating trading businesses from land ownership. When making the decision, factors such as ownership, control, and debt levels are pivotal. Timing matters, and discussions during annual tax planning can help make informed decisions.

Read more here: https://www.thorntonsadvisors.com.au/in-good-company-farm-business-structures-and-asset-protection/

19/06/2026

Navigating Succession Planning Pitfalls:

Succession planning for family businesses is a multifaceted process requiring foresight and meticulous planning. This article outlines six common mistakes that can hinder successful transitions, emphasising the importance of early action, clear communication, and strategic ex*****on.

Read the full article here - https://ap1.hubs.ly/y0Z2-g0

18/06/2026

The federal government will scrap the 50% capital gains tax (CGT) discount, revert to an inflation-based tax model, and introduce a new minimum 30% tax rate for realised gains, according to Tuesday’s federal budget.

Key concessions for small businesses remain in place, and investors in new housing builds will be free to choose from both the old and new CGT systems.

But investors in the startup sector, who back fledgling companies in search of major windfalls, face an anxious wait for further government consultation.

Budget papers confirm the current CGT model, which reduces the tax paid when selling assets for a profit, will transition to a system taxing ‘real’ gains from July 1, 2027.

This model, which largely reverts to how capital gains were taxed before 1999, will index the cost base of eligible assets against CPI.

Source: Smart Company

Read more: https://www.smartcompany.com.au/federal-budget-2026/capital-gains-tax-50-discount-scrapped-sme-concessions-remain/

The federal government will scrap the 50% capital gains tax (CGT) discount, reverting to an inflation-based tax model.

18/06/2026

Is it time to reassess your relationship with your accounting firm? This article presents a checklist to guide family businesses in evaluating potential new advisors. It suggests focusing on expertise in family-owned businesses, proactive advisory approaches, effective communication, and the use of technology. By considering these areas, you can ensure that your advisor aligns with your long-term goals and family dynamics.

Read the full article to explore essential questions for evaluating your advisors.

https://ap1.hubs.ly/y0ZJvm0

17/06/2026

🎉 Happy Birthday, Tejal! 🎉

Recently we celebrated one of the wonderful people who helps make Thorntons such a positive place to work. Since joining our team, Tejal has brought a wealth of accounting experience, a genuine love of working with numbers, and an infectious positivity that brightens the office. Her dedication, willingness to learn, and friendly nature have made her a valued member of the Thorntons family.

Outside of work, Tejal enjoys cooking, listening to music, spending time with her beloved dog, and making the most of long walks. Around the office, she’s known for being approachable, engaging, and always up for a chat.

Tejal, thank you for everything you bring to our team.

15/06/2026

The Federal Government has announced changes to superannuation guarantee payments which may impact small business owners in Western Australia.

Payday Super will change both the timing of super payments and the way super is calculated and reported through payroll systems.

From 1 July 2026, superannuation guarantee payments must be paid to employees at the same time as their salary and wages.

These changes are being introduced as part of the Treasury Laws Amendment (Payday Superannuation) Bill 2025 and the Superannuation Guarantee Charge Amendment Bill 2025.

Source: SBDC BLOG

Read more: https://www.smallbusiness.wa.gov.au/blog/what-you-need-know-about-payday-super

The Federal Government has announced changes to superannuation guarantee payments which may impact small business owners in Western Australia.Payday Super will change both the timing of super payments and the way super is calculated and reported through payroll systems.From 1 July 2026, superannuati...

15/06/2026

At Thorntons Accountants and Business Advisors, we’ve always believed that great accounting is about more than numbers, it’s about trust, communication, and long-term partnerships.

From our strong regional WA roots and long history supporting farming families and regional businesses, to the trusted client relationships built over decades, it’s a great reminder that what we do is about far more than compliance.

At Thorntons, we work alongside our clients through every stage of life and business, helping with tax and financial reporting, estate planning, family transitions, and long-term goals that span generations. We’re grateful for our people, our clients, and the relationships that make this work so rewarding.

Watch this video to find out more about the Thorntons story or if you’d like to chat about how we can support you, we’d love to hear from you. Call us on 1800 64 1010

https://ap1.hubs.ly/y0Z2BZ0

One of Perth’s leading accounting firms, Thorntons is committed to ...

12/06/2026

Payday Super reforms are set to increase payment frequency and bring stricter enforcement rules. Employers will need to automate processes, align payroll systems, and model cash flow impacts to remain compliant under the proposed SG changes.

In this article, Stephanie Penn, unpacks what this means for SMEs and employers. Read the full article here: https://ap1.hubs.ly/y0Z2Wx0

Thorntons offers readiness assessments and advisory to help SMEs manage the transition. https://ap1.hubs.ly/y0Z2lt0

11/06/2026

Niribi Farms, a 5,400-hectare mixed farming operation in Western Australia, exemplifies successful generational business transition. The Dodd family, now in their second generation of leadership at Niribi Farms, attribute much of their success to their longstanding partnership with Thorntons. For over 40 years, Thorntons has provided the Dodd family with comprehensive financial and business advisory services.

Read the full article about Niribi Farms' journey with Thorntons: https://ap1.hubs.ly/y0Z2lx0

11/06/2026

The Thorntons team is part way through The Push-Up Challenge - Australia, with push-ups adding up each day in support of better mental health. From 3–26 June, Australians are taking on 3,307 push-ups to recognise the 3,307 lives lost to su***de in Australia in 2024 (the most recent available data).

Mental health affects every workplace, family and community, which is why our team is proud to be taking part and supporting causes that are making a real difference.

This year, our team members are fundraising for:

💙 headspace
Stephanie Penn

💛 Lifeline
Abha Patel
Troy Anderson
Jackie Rawlins
Kee Long
Abi Gajendran

💚 Push for Better Foundation
Vish Patel
Helen Dyer
Bill Mattingly
Ali Khan

Every push-up completed, donation made, and conversation started helps raise awareness and supports better mental health outcomes for Australians.

If you'd like to support the Thorntons team, you can donate here:
https://www.thepushupchallenge.com.au/fundraisers/thorntons

Every donation and every conversation helps push for better.