AccuRex

New Financial Year SME Compliance Check

As we start a new financial year, it is a good time for business owners to pause and review the key items that can easily be missed during a busy EOFY period.

PAYROLL AND PEOPLE
Make sure minimum wage and award rate changes have been updated from 1 July, and check that payroll settings, employee classifications, allowances and STP finalisation are correct.

SUPERANNUATION
With Payday Super changes coming in from 1 July 2026, businesses should start reviewing payroll timing, cash flow and super payment processes now.

TAX AND REPORTING
Check June quarter BAS, PAYG, FBT reporting, payroll tax and other year-end reporting requirements.

ACCOUNTING SOFTWARE
Review your MYOB, Xero, SAP or other accounting system to make sure the new financial year setup, locked periods, payroll updates and reporting settings are correct.

STOCK AND INVENTORY
If your business holds stock, year-end stocktake is important to confirm closing stock value, identify stock differences and review slow-moving or obsolete items.

INSURANCE, REGISTRATIONS AND LICENCES
Review workers compensation, ASIC annual review dates, business name renewals, insurance policies, council registrations and any industry-specific licence renewals.

The key message is simple: do not wait until something is overdue. A short year-end checklist can help avoid penalties, payroll errors, missed renewals, stock issues and cash flow surprises.

Celebrating 140 years of CPA Australia.

As CPA Australia marks this significant milestone, we are proud to recognise the CPA Australia members within our team and the valuable contribution they make to our organisation.

It was also especially meaningful to see some of our team members personally participate in the 140th anniversary celebrations, reflecting their continued commitment to the profession and the broader CPA community.

CPA members continue to add value through technical knowledge, ethical standards, commercial insight, and strong professional judgement.

Congratulations to CPA Australia on 140 years of service to the accounting profession, and to all CPA members celebrating this proud milestone.

⚖️ **Australia’s AML/CTF Tranche 2 Reforms: What Changes from 1 July 2026?**

From **1 July 2026**, Australia’s Anti-Money Laundering and Counter-Terrorism Financing regime will expand to cover certain additional professional and business services.

These changes are commonly known as the **Tranche 2 AML/CTF reforms**.

The reforms may affect certain designated services provided by:

✅ Accountants
✅ Lawyers and legal practices
✅ Conveyancers
✅ Real estate professionals
✅ Property developers
✅ Trust and company service providers
✅ Dealers in precious metals, stones and products

Businesses captured under the reforms may need to:

🔹 Enrol with AUSTRAC
🔹 Have an AML/CTF program
🔹 Appoint a compliance officer
🔹 Conduct customer due diligence
🔹 Identify beneficial owners and controllers
🔹 Monitor customers and transactions
🔹 Report suspicious matters where required
🔹 Train staff
🔹 Keep proper compliance records

**Important:** These rules do not automatically apply to every business in these industries. The key question is whether the business provides a **designated service** under the AML/CTF regime.

Understanding the changes early can help businesses prepare for the new compliance environment.

The 2026 Federal Budget has delivered important measures for Australian businesses, including a permanent $20,000 instant asset write-off, tax loss carry-back rules, start-up loss refundability, PAYG instalment flexibility, R&D reforms and new rules for discretionary trusts.

For SMEs, the real opportunity is not just tax savings — it is better planning, stronger cash flow and cleaner compliance.

At Accurex, we help Australian businesses stay accurate, compliant and future-ready.

Accurex — Accurate. Compliant. Connected. People-Focused.

Accurex recently attended the CPA Australia seminar on AI and the Future of the Accounting Profession.

It was an insightful event that explored the evolving role of AI in accounting and the opportunities it brings for greater efficiency, better decision-making, and smarter business support.

We are always keen to stay ahead of industry developments and bring that thinking into the way we support our clients.

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Why Global Conflict Is About to Show Up in Your P&L By Accurex Advisory Team Global instability is no longer a distant issue. It is increasingly becoming a direct input into business performance.

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International Women’s Day – 8 March

Today the world celebrates the achievements and contributions of women everywhere.

We proudly join in recognising the women making a difference in our workplaces, families and communities.

Happy International Women’s Day.