Our audit team undertakes the complete range of audits required of Australian accounting laws to help you to help you meet obligations or fulfil best practice procedures.
The purpose of this Alert is to draw attention to the Prime Minister’s announcement of Australia’s new 2035 greenhouse gas emissions reduction target and path to net zero by 2050. The new target was announced on 18 September 2025. The new target follows the independent advice of the Climate Change Authority and is supported by the release of a comprehensive Net Zero Plan, along with 6 sectoral decarbonisation plans.
We help clients understand and address their employment tax obligations to ensure compliance and optimal tax positioning for their business and employees.
We provide independent oversight and review of your organisation's control environments to manage key risks, inform good decision-making and improve performance.
We enable our clients to achieve their strategic objectives, fulfil their purpose and live their values supported by effective and appropriate risk management.
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Our forensics team identifies and obtains relevant information, investigates the financial issue at hand and provides a clear, concise, sustainable opinion as...
Our team advises at all stages of a litigation dispute, taking an independent view while gathering and reviewing evidence and contributing to expert reports.
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Our ESG due diligence process evaluates a company's environmental, social, and governance factors during the pre-investment phase to determine the overall maturity of the entity, manage potential risks, and identify opportunities.
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Our finance and funding team works to access sources of finance, present your case to potential funders and negotiate a long-term sustainable relationship.
We provide effective and strategic corporate finance services across all stages of investments and transactions so clients can better manage costs and maximise returns.
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Our proven methodology identifies opportunities to improve your processes and optimise working capital, and we work with to implement changes and monitor their effectiveness.
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As this year’s series kicks off in late 2025, continuing through to June 2026, we will bring you virtual on-demand webinars featuring guest speakers, legal and industry experts, and Grant Thornton specialists sharing insights and expectations for the year ahead.
We help clients improve commercial performance, profitability and address challenges after internal or external triggers require a major business model shift.
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We work closely with clients and lenders to provide holistic debt advisory services so you can raise or manage existing debt to meet your strategic goals.
As this year’s series kicks off in late 2025, continuing through to June 2026, we will bring you virtual on-demand webinars featuring guest speakers, legal and industry experts, and Grant Thornton specialists sharing insights and expectations for the year ahead.
We work with private businesses across Australia – and internationals looking to Australia for their investments and operations – on all accounting and...
Our outsourced CFO services provide a full suite of CFO, tax and finance services and advice to help clients manage risk, optimise operations and grow.
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Following the introduction of mandatory sustainability reporting requirements in Australia, organisations will need to understand if they are required to report, the disclosure requirements, and if they have the skill set and available data to comply. We can guide organisations through the reporting process end-to-end, from climate-related risks and opportunities identification through to reporting support.
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Australia has commenced reforming its Anti-Money Laundering and Counter-Terrorist Financing (AML/CTF) regime including the ‘Tranche 2’ reforms, which expand AML/CTF compliance to apply to additional professions including real estate agents and conveyancers.
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From 1 July 2026, employers must pay superannuation on payday, requiring contributions to reach employees’ accounts within 7 business days.
This change replaces quarterly payments and will result in 15 months of super contributions in a 12-month period, impacting cash flow and payroll systems.
Family businesses should start preparing now by reviewing payroll processes, forecasting cash flow, and upgrading systems to avoid compliance risks.
From 1 July 2026, superannuation guarantee contributions must be paid on payday, with funds reaching employees’ accounts within 7 business days.
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This replaces the current quarterly payment cycle and means 15 months of super payments will be made in a 12-month period – a major shift in cash flow management.
Why this matters
Family businesses often operate with tight cash flow and lean administrative teams. The new rules will require faster payments, system upgrades, and more frequent reconciliation – all of which demand planning now to avoid compliance risks and financial strain.
For a deeper understanding of the legislative changes and compliance framework, refer to:
Review how often you pay staff and how superannuation is currently processed.
Identify any contracts that include superannuation in total remuneration — these may need renegotiation to avoid unintended impacts.
Update governance frameworks to reflect real-time super payments and identify key person risks in payroll and super processes. Ensure segregation of duties and backup coverage are in place.
2. Assess your payroll systems
Check if your payroll software supports STP Phase 2 and SuperStream updates.
Validate pay codes with common errors include misclassifying allowances, leave loading, and penalty rates.
Implement exception testing and error remediation strategies to catch and correct issues early.
3. Forecast your cashflow
Model the impact of paying super monthly or fortnightly instead of quarterly.
Adjust budgets to reflect the 15-month payment cycle in the first year.
Consider how increased frequency affects liquidity and reserve planning.
4. Engage your clearing house or fund
Confirm processing times. Funds must receive contributions within 7 business days, and clearing houses must allocate within 3 business days.
Understand your liability if delays occur outside your control.
Review onboarding processes to ensure accurate capture and validation of superfund information from new starters.
5. Start early and seek support
Begin testing and embedding changes well before July 2026.
Engage your payroll and finance teams to ensure readiness across systems and processes.
Educate employees on tracking super contributions and providing accurate fund details to avoid delays.
We’re here to help
This is not just a payroll change – it’s a strategic financial shift. Family businesses must act now to protect their operations, ensure compliance, and maintain employee trust.
We can assist with cash flow modelling and forecasting, payroll process reviews and pay code validation and system readiness assessments
If you would like to learn more, please contact our team of experts today.
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The 2025 Family Business Report explored the mindset of Australian family business leaders as they navigate an increasingly complex and uncertain landscape. While the top challenges varied between incumbent leaders and the rising generation – ranging from staffing and cashflow to succession planning – there was notable alignment with the broader threats identified in the survey.
Our 2025 Family Business Survey revealed a recurring theme that presents both a challenge and an opportunity: succession planning. Succession is often viewed as a pivotal moment in a family business’s lifecycle.
Grant Thornton has released its 2025 Family Business Report this National Family Business Day, uncovering two key trends: succession planning remains the number one challenge, and the rising generation is an experienced cohort of leaders in waiting.
