PK Chartered Accountants

PK Chartered Accountants Accountants for business owners who want to scale and build wealth You want to focus on growing your business, its revenue and profits.

Our services are designed to not only help you achieve that, but also take the stress out of tax and improve your understanding of the numbers. Our services will empower you to take control and make better decisions, so you can spend more time to doing the things you love.

The CGT changes explained — and what they mean for you 👇The proposed capital gains tax reforms starting 1 July 2027 are ...
20/05/2026

The CGT changes explained — and what they mean for you 👇

The proposed capital gains tax reforms starting 1 July 2027 are some of the biggest changes in 40 years. Here’s what you need to know:
📌 The 50% CGT discount is being replaced
📌 A 30% minimum tax rate will apply
📌 Indexation returns — but it’s not always better
📌 Pre-1985 assets lose their CGT-exempt status
📌 Business sales could face double the tax
📌 Trust structures need to be reconsidered

⚠️ These changes are not yet law — but it’s never too early to model the impact on your situation.

Before you make any moves, ask yourself:
✅ Have I modelled the actual impact?
✅ Do transaction costs outweigh the benefit of selling early?
✅ Do I qualify for small business CGT concessions?

Save this post and share it with someone who needs to see it.

💬 Got questions, get in touch.

Big changes are coming for family trusts.The 2026/27 Federal Budget has introduced proposed changes that could significa...
14/05/2026

Big changes are coming for family trusts.

The 2026/27 Federal Budget has introduced proposed changes that could significantly impact how discretionary (family) trusts are used going forward.

For many business owners, this may reduce the effectiveness of trusts as a tax planning tool — particularly where structures rely on bucket companies.

What’s been announced:

From 1 July 2028, trustees will be subject to a minimum 30% tax on trust income

Individual beneficiaries will receive non-refundable tax credits for tax already paid by the trustee

A 3-year roll-over relief period (from 1 July 2027) will allow eligible businesses to restructure into alternative entities like companies or fixed trusts

What this means:

These changes could impact a large number of business structures currently in place.

In some cases, restructuring may be worth considering — but it’s not a one-size-fits-all decision.

Important:

Every situation is different. Any restructure should be properly modelled before making a move.

There’s no need to panic or rush decisions.

Follow for practical structuring insights and clear, considered tax guidance.

The Government has announced that it is reforming negative gearing and capital gains tax (CGT) arrangements from 1 July ...
12/05/2026

The Government has announced that it is reforming negative gearing and capital gains tax (CGT) arrangements from 1 July 2027.

Key points:

Negative gearing for residential property will be limited to new builds.

Losses from established residential properties will only be deductible against rental income or the capital gains from residential properties. Excess losses will be carried forward and able to be offset against residential property income in future years.

Established residential properties acquired prior to 7:30pm (AEST) on 12 May 2026 will be fully grandfathered – meaning that the limitation on negative gearing will only apply to established residential properties purchased after this time.

From 1 July 2027, losses related to existing residential investment properties purchased from 7:30pm AEST 12 May 2026 will only be deductible against other income from residential properties, including capital gains. When an investor has excess losses, they will be able to carry forward that excess to offset against residential property income in future years.

These changes will apply to established residential properties acquired from 7:30PM (AEST) on 12 May 2026. Properties acquired prior to this time (including contracts entered into but not yet settled) will be exempt from the changes until disposed of.

Transitional arrangements:

New builds can continue to be negatively geared before and after 1 July 2027.

For established residential properties:

Properties held at announcement (including where a contract has been entered into, but not yet settled) will be allowed to be negatively geared in future years until sold. This ensures that arrangements for taxpayers who have already made investment decisions based on the existing negative gearing rules will not change.

Properties purchased between announcement and 30 June 2027 may be negatively geared during this period, but not from 1 July 2027.

Properties purchased from 1 July 2027 will not be able to be negatively geared

Follow for more budget updates.

Do you really understand your business’s KPIs?KPIs (Key Performance Indicators) are the metrics that show how your busin...
04/05/2026

Do you really understand your business’s KPIs?

KPIs (Key Performance Indicators) are the metrics that show how your business is actually performing — not just how it feels.

Think of them as your financial dashboard. They give you clarity on what’s working, what isn’t, and where to focus.

When you track and understand your KPIs, you make better decisions.
Better decisions lead to stronger financial performance and long-term value.

If you’re not across your KPIs, you’re effectively making decisions without the full picture.

Too many business owners rely on their bank balance as a measure of success.
While cash flow matters, it’s only one piece of the puzzle.

We’ll be breaking down key KPIs and how to use them in upcoming posts.

Follow for practical business insights.

Thinking of acquiring an EV for your business? It can be a smart move, but only if you understand the full picture. Elig...
01/05/2026

Thinking of acquiring an EV for your business? It can be a smart move, but only if you understand the full picture.

Eligible EVs can be exempt from Fringe Benefits Tax (FBT) under current rules.

This means that even if the vehicle is used for private purposes, no FBT is payable.

The business can claim tax deductions for:
✅ Depreciation
✅ Electricity / charging costs
✅ Insurance
✅ Registration
✅ Repairs and maintenance
✅ Loan interest or lease payments

The ATO
‼️ Caps the depreciable amount to $69,674 (for FY 2026)
‼️ Limits the GST claimable to a maximum of $6,334

The FBT exemption only applies to EVs valued at less than the Luxury Car Limit (LCT) which is $91,387.

Other traps to be aware of:
⚠️ Only the business use percentage of expenses can be claimed as a tax deduction. It is highly recommended to keep a logbook, but this is not mandatory
⚠️ The vehicle may still be reportable for the employee using the vehicle. This does not mean the vehicle is taxable to the employee but it may impact their calculation of Medicare Levy, Centrelink Benefits, Child Care Subsidy, and HELP / HECS Repayments and other income tested amounts
⚠️ Division 7A risk may arise if the EV is used for personal use and not structure as a fringe benefit
⚠️ The FBT exemption is lost if its value exceeds the Luxury Car Limit (LCT)
⚠️ Home charging costs need to be calculated using methods prescribed by the ATO
⚠️ Purchasing the vehicle in an entity which has passive investment assets, e.g., a trust which holds real property

Follow for more FBT tips.

If you’re not doing this as a business owner, there’s a high chance you’re paying more tax than you need to.We’d rather ...
30/04/2026

If you’re not doing this as a business owner, there’s a high chance you’re paying more tax than you need to.

We’d rather focus on how much tax we can save our clients — not just how much they owe.

That’s where the real value is.

What is tax planning?

Tax planning is reviewing your business’s financial position before the end of the financial year and implementing tax minimisation strategies to legally minimise tax.

When combined with the right business structure, it can significantly accelerate your tax savings.

Put simply — more cash retained in your business to reinvest… or even upgrade that car.

We complete tax planning for our clients every year between May and June.

Here’s what that looked like recently:

💰 Childcare industry - $246,967 saved
💰 Construction industry - $89,042 saved
💰 PR consultancy - $66,550 saved
💰 Locksmith - $56,997 saved
💰 Allied health - $48,963 saved

Effective tax planning can:

✅ Reduce your overall tax liability
✅ Improve cash flow through timing strategies
✅ Eliminate surprises at year-end

If you’re a business owner and not doing this annually, you’re leaving money on the table.

Follow us for practical tax strategies.

Fringe Benefits Tax (FBT) is a target area for ATO audits, so it’s never been more important to get it right. Businesses...
21/04/2026

Fringe Benefits Tax (FBT) is a target area for ATO audits, so it’s never been more important to get it right.

Businesses are often exposed to FBT on motor vehicles, and businesses have been caught out, costing them thousands in outstanding FBT, not to mention the interest charges and penalties imposed by the ATO.

We often suggest clients use a taxable car allowance model that shifts vehicle ownership and tax deductions to the individual, thereby eliminating FBT exposure for the business:

Here’s how it works:

1️⃣ The vehicle is purchased and financed in the individual’s name, ideally someone connected to the entity and receiving income from the business entity, such as wages

2️⃣ All finance repayments and the vehicle’s operating costs are paid by the individual

3️⃣ In turn, the individual receives a car allowance from the business entity to help cover those costs

4️⃣ The individual then claims a tax deduction for the business use percentage of the vehicle’s operating costs, interest on finance, and depreciation

5️⃣ The individual would need to keep a motor vehicle logbook, otherwise the tax deduction would be severely limited

This way:
✅ No car fringe benefit exists
✅ The business still gets a tax deduction
✅ The individual gets a tax deduction
✅ No FBT return is required
✅ Avoids the risk of ATO FBT audits

In some cases, providing the vehicle via the company may still be preferable, particularly in scenarios where:

➡️ Its a high-value luxury vehicle
➡️ there is minimal business travel
➡️ the employee does not want a loan personally

Follow for more FBT advice.

Three reasons to use a trust to invest in property:✅ Asset protection: this is particularly important for business owner...
16/04/2026

Three reasons to use a trust to invest in property:

✅ Asset protection: this is particularly important for business owners or professionals with a high exposure to litigation. Using a corporate trustee serves to provide better asset protection from legal claims if you are sued personally.

✅ Tax flexibility: A discretionary trust allows the distribution of net income to different beneficiaries, particularly those with lower marginal tax rates. Corporate beneficiaries, otherwise known as ‘bucket companies’ can also significantly enhance tax efficiency, but we will get into this more later.

✅ Estate planning and intergenerational wealth: This is often why wealthy families incorporate the use of family trusts to acquire and generate wealth. Trusts allow property to pass between generations without triggering capital gains tax or stamp duty in many cases.

Did we forget about the 50% capital gains tax discount? Not quite. Although tax advantageous, especially for high growth property, the idea would be to:

➡️ Acquire the right properties in the first place that align with your strategy

➡️Don’t sell them and avoid capital gains tax altogether!

Follow for more insights about investment structuring.

Structuring isn’t a process to be rushed.We invest more time upfront educating clients about business structures and rec...
13/04/2026

Structuring isn’t a process to be rushed.

We invest more time upfront educating clients about business structures and recommending the right structures.

The time invested upfront can mean hundreds of thousands if not millions of tax saved over the life of your business.

Follow for more insights about business structuring.

Address

Level 17, 9 Castlereagh Street
Sydney, NSW
2000

Opening Hours

Monday 9:30am - 5:30pm
Tuesday 9:30am - 5:30pm
Wednesday 9:30am - 5:30pm
Thursday 9:30am - 5:30pm
Friday 9:30am - 5:30pm

Telephone

+611300936632

Website

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