Anti-Money Laundering (AML) reforms: An unprecedented set of changes to Australia’s AML regime. Find out more

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Report Manufacturing benchmarks 2025: navigating complexity and building resilience

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Client Alert PepsiCo — High Court dismisses Commissioner's appeals on embedded royalties and Diverted Profits Tax

The High Court of Australia has dismissed the Tax Commissioner’s (“the Commissioner”) appeals in FCT v PepsiCo, Inc [2025] HCA 30 (“PepsiCo”), ruling that payments made by Schweppes Australia to PepsiCo’s Australian subsidiary for concentrate did not constitute royalties, and that PepsiCo and Stokely‑Van Camp were not liable for royalty withholding tax or diverted profits tax for the 2018 and 2019 income years.

| 5 min read | 19 Aug 2025

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| 3 min read | 18 Jun 2025

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| 3 min read | 28 May 2025

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We provide merchants-focused payments advice on all aspects of payment processes and technologies.

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Our team of specialist forensic accountants and investigators have extensive experience in tracing assets and the flow of funds.

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Insight The rise in retail insolvencies

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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 provide strategic director advisory services in times of business distress to help directors navigate issues and protect their company and themselves from liability.
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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.

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We work with private businesses across Australia – and internationals looking to Australia for their investments and operations – on all accounting and...

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Business planning & strategy
Our clients can access business planning and strategy advice through our value add business strategy sessions.
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We provide company secretarial services and expert advice for private businesses on all company secretarial matters.
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We act as a third-party partner to international businesses looking to invest in Australia on your day-to-day finance and accounting needs.
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Our family business consulting team works with family businesses on running their businesses for continued future success.
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Environmental, Social and Governance (ESG) and Sustainability

Having a considered and informed ESG response has never been more important for all organisations as we are seeing awareness of the elements of ESG continue to...

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ESG, sustainability and climate reporting
There is a growing demand for organisations to provide transparency on their commitment to sustainability and disclosure of the nonfinancial impacts of their business activities. Commonly, the responsibility for sustainability and ESG reporting is landing with CFOs and finance teams, requiring a reassessment of a range of reporting processes and controls.
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With the ESG and sustainability landscape continuing to evolve, we are focussed on helping your business to understand what ESG and sustainability represents and the opportunities and challenges it can provide.
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As the demand for organisations to prepare information in relation to ESG & sustainability continues to increase, through changes in regulatory requirements or stakeholder expectations, there is a growing need for assurance over the information prepared.
ESG and sustainability due diligence
As environmental, social, and governance (ESG) considerations become increasingly pivotal for dealmakers in Australia, it is important for investors to feel confident in assessing transactions through an ESG lens.

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Insight Family businesses are at the forefront of Environmental, Social and Governance principles

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Consulting

Our consulting team supports its clients with hands-on and proactive advice on all aspects of their strategies for sustainable growth.

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Management consulting
Our management consulting services team helps you to plan and implement the right strategy to deliver sustainable growth.
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We provide financial consulting services to keep your business running so you focus on your clients and reaching strategic goals.

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Insight Issues arising from misaligned succession and estate plans

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China practice
The investment opportunities between Australia and China are well established yet, in recent years, have also diversified.
Japan practice
The trading partnership between Japan and Australia is long-standing and increasingly important to both countries’ economies.
India practice
It’s an exciting time for Indian and Australian businesses looking to each jurisdiction as part of their growth ambitions.
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Our Singapore Practice works alongside Singaporean companies to achieve growth through investment and market expansion into Australia.
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Investment and business opportunities in Vietnam are expanding rapidly, driven by new markets, diverse industries, and Vietnam's growing role in export manufacturing, foreign investment, and strong domestic demand.

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Supporting the growth of ‘Australian Made’ in today’s markets

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Energy & Resources

From an active natural resources M&A market, a growing energy and renewable energy market, to new technologies and export and trade agreements – we have the...

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Renewable Energy
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Technical Accounting Alert | TA 2025-3

What’s new for June 2025

By:

Owen Carew

20 Aug 20254 min read

INTRODUCTION

The objective of this Technical Accounting (TA) Alert is to:

provide information on new and revised Accounting Standards that are mandatorily applicable for the first time to 30 June 2025 annual and/or half-year ends; and
highlight other recent financial reporting developments.

This TA Alert incorporates all the relevant pronouncements and developments as at 17 July 2025. Entities should also take into account any new pronouncements issued, or developments taking place, after this date if they are relevant for the financial year and/or half-year ended 30 June 2025.

For a list of all the pronouncements issued by the AASB and the IASB that are not yet effective, refer to our latest TA Alert on this topic on our website.

OVERVIEW

The new and revised Australian accounting requirements that are mandatory for the first time to annual and/or half-year reporting periods ending 30 June 2025 are summarised on the overleaf.

Standard / Interpretation	Mandatory effective date (Annual periods beginning on or after…)	Applicable for the first time to year ended 30 June 2025	Applicable for the first time to half-year ended 30 June 2025
AASB 2020-1 Amendments to Australian Accounting Standards – Classification of Liabilities as current or non-current	1 January 2024	Yes	No
AASB 2022-5 Amendments to Australian Accounting Standards – Lease Liability in a Sale and Leaseback	1 January 2024	Yes	No
AASB 2022-6 Amendments to Australian Accounting Standards – Non-current Liabilities with Covenants	1 January 2024	Yes	No
AASB 2022-10 Amendments to Australian Accounting Standards – Fair Value Measurement of Non-Financial Assets of Not-for-Profit Public Sector Entities	1 January 2024	Yes	No
AASB 2023-1 Amendments to Australian Accounting Standards – Supplier Finance Arrangements	1 January 2024	Yes	No
AASB 2023-3 Amendments to Australian Accounting Standards – Disclosure of Non-current Liabilities with Covenants: Tier 2	1 January 2024	Yes	No
AASB 2023-5 Amendments to Australian Accounting Standards – Lack of Exchangeability	1 January 2025	No	Yes
AASB 2024-1 Amendments to Australian Accounting Standards – Supplier Finance Arrangements: Tier 2 Disclosures	1 January 2024	Yes	No
AASB 2024-4a Amendments to Australian Accounting Standards – Effective Date of Amendments to AASB 10 and AASB 128	1 January 2025	No	Yes

FIRST TIME APPLICATION TO FULL-YEAR REPORTING PERIODS ENDED 30 JUNE 2025

There are several new and revised standards that became effective for the annual/half-year periods ended 30 June 2025. This TA Alert focuses only on standards and interpretations with relatively significant changes.

There are no new and revised standards that are likely to have any significant impact on entities.

OTHER DEVELOPMENTS THAT ARE RELEVANT TO ANNUAL PERIODS ENDING 30 JUNE 2025

ASIC focus areas for 30 June 2025

The Australian Securities and Investments Commission (ASIC) have recently released focus areas for their financial reporting and audit surveillance program for 30 June 2025. A Technical Accounting Alert has been included on our website discussing these focus areas.

FURTHER INFORMATION

If you wish to discuss any of the information included in this Technical Accounting Alert, please get in touch with your Grant Thornton Relationship Partner or a member of the National Assurance Quality Team at national.assurance.quality@au.gt.com.

What’s new for June 2025

ASIC focus areas for 30 June 2025

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ASIC focus areas for 30 June 2025

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