Palfreyman Chartered Accountants

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Palfreyman Chartered Accountants Our Principal, Simone Palfreyman, is a fellow with Chartered Accountants Australia & New Zealand. She has over 30 years experience in Accounting & Taxation.

𝗧𝗵𝗲 𝗛𝘂𝗻𝘁𝗲𝗿’𝘀 𝗦𝗺𝗮𝗹𝗹 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗦𝗽𝗲𝗰𝗶𝗮𝗹𝗶𝘀𝘁 | Business mentoring, tax strategy, structure advice, CGT & SMSF for regional industries including health, vineyard, equine, trade, professional & primary production across Australia.

Family trusts may have a new option under the proposed 30 per cent minimum tax.Draft rules would allow some discretionar...
24/09/2026

Family trusts may have a new option under the proposed 30 per cent minimum tax.

Draft rules would allow some discretionary trusts to remain in place by fixing future distributions to nominated beneficiaries. This could avoid the need to restructure, but it would also significantly reduce the trust’s flexibility.

The proposal is not yet law, but family businesses can start considering what the different options may mean.

Read more: https://palfreyman.com.au/family-trust-tax-fixed-distribution-election/

GST for health contractors is not always straightforward. Our latest blog explains when health services may be GST-free,...
01/09/2026

GST for health contractors is not always straightforward.

Our latest blog explains when health services may be GST-free, when contractors may need to charge GST, and how clinic, patient and NDIS arrangements can affect the outcome. It also includes a downloadable fact sheet for easy reference.

Read more here: https://palfreyman.com.au/gst-health-contractors-australia/

In many trade and construction businesses, materials are paid for well before clients settle their invoices. GST is coll...
27/02/2026

In many trade and construction businesses, materials are paid for well before clients settle their invoices. GST is collected, but unless it is separated and tracked carefully, it can become blended with operating funds.

When BAS deadlines arrive, the payment can feel larger than expected because the GST component has already been absorbed into day-to-day expenses.

We encourage trade clients to separate GST into a dedicated account as income is received and to reconcile invoices regularly rather than waiting until quarter end. Aligning bookkeeping systems with project timelines also provides clearer visibility over available cash.

GST itself is not the problem. The difficulty usually lies in how it is managed throughout the quarter.
With simple, consistent systems, compliance becomes far less disruptive.

In business, it is easy to focus on bursts of productivity. Deadlines approach, long hours follow, and significant progr...
22/02/2026

In business, it is easy to focus on bursts of productivity. Deadlines approach, long hours follow, and significant progress is made quickly. But intensity is difficult to sustain.

We often see that consistency has a far greater impact over time. Regular financial reviews, steady bookkeeping habits, and routine check-ins create stability that reduces the need for reactive effort later.

Businesses that operate calmly throughout the year rarely experience EOFY as overwhelming. That calm is usually built on consistent, measured attention rather than intensity.

Medical and allied health practitioners often operate across multiple income streams. Medicare billings, private fees, c...
19/02/2026

Medical and allied health practitioners often operate across multiple income streams. Medicare billings, private fees, contractor arrangements, and service trusts can all intersect in ways that make income patterns less straightforward than expected.

When income fluctuates and forecasting is irregular, PAYG instalments may not accurately reflect final tax liability. Superannuation contributions can also be overlooked, particularly where drawings vary month to month. Without regular projections, year-end results can feel like a surprise rather than a confirmation.
We find that clearer quarterly forecasting and structured income reviews create far greater predictability. Aligning practice income, personal drawings, super contributions, and projected tax obligations reduces volatility and supports better decision-making.

Tax should rarely feel unpredictable. With steady oversight, it becomes manageable.

Superannuation guarantee obligations are part of everyday payroll, but small misunderstandings can create larger complia...
18/02/2026

Superannuation guarantee obligations are part of everyday payroll, but small misunderstandings can create larger compliance issues over time.

Our latest blog explains what employers need to understand about ordinary time earnings, contractor arrangements, payment timing and reconciliation - and why reviewing your systems early in the year can prevent unnecessary pressure later.

Read more here 👉🏼 https://palfreyman.com.au/superannuation-guarantee-obligations-what-employers-need-to-get-right/

By February, the pace of the year is starting to feel real again. Client work is moving, staff are settled back into rou...
15/02/2026

By February, the pace of the year is starting to feel real again. Client work is moving, staff are settled back into routine, and attention often turns quietly toward the end of the financial year.

While tax planning is important, we often encourage clients to think a little further ahead than 30 June. When decisions are made only with the current financial year in mind, opportunities for longer-term stability can be missed. Sustainable businesses tend to look two or three years forward, not just four months ahead.

Planning beyond deadlines does not mean complexity. It simply means asking whether today’s decisions support where the business intends to be in a few years’ time. February is a good month to begin that conversation.

If you earn your professional income through a separate legal entity (for example, a company or trust), the ATO’s new gu...
13/02/2026

If you earn your professional income through a separate legal entity (for example, a company or trust), the ATO’s new guidance on Personal Services Businesses is a timely reminder to make sure your structure, payments, and any profit you keep in the entity all lines up with the new ATO guidance.

Our new blog breaks it down in plain English: what counts as personal services income, what the PSB tests look for, how Part IVA fits in, and simple steps to sense-check salaries, distributions, and any profit retention (plus what to document and why).

👉 Read the blog here: https://palfreyman.com.au/the-atos-new-guidance-on-personal-services-businesses-what-it-means-and-what-to-do/

A new year brings a fresh page - and the opportunity to begin with intention.As 2026 begins, we wish our clients and com...
31/12/2025

A new year brings a fresh page - and the opportunity to begin with intention.

As 2026 begins, we wish our clients and community clarity in their plans, confidence in their decisions, and balance in the year ahead. We look forward to supporting you as the year unfolds.

Happy New Year from the team at Palfreyman Chartered Accountants.

Address

18 Vincent Street
Cessnock, NSW
2325

Opening Hours

Monday 9am - 4:30pm
Tuesday 9am - 4:30pm
Wednesday 9am - 4:30pm
Thursday 9am - 4:30pm
Friday 9am - 4:30pm
Saturday 9am - 4:30pm
Sunday 9am - 4:30pm

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