Christmas 2025

Year End Newsletter

As 2025 draws to a close, we are delighted to share our final newsletter of the year. Reflecting on the past twelve months, it is incredible to see the progress and achievements we have made, which has truly set a solid foundation for the future of Brentnalls SA.

This year was a momentous one for us as we celebrated our 25th anniversary. From our beginnings in November 2000, when John Crouch and Craig Farrow began the first chapter of Brentnalls at 255 Port Road, Hindmarsh, to where we are today – it has been quite a journey.

We recently celebrated this anniversary together with a party at the Wolf Blass Centre at the Morphettville race course with all staff and partners.

Our firm has grown in those 25 years – from 2 Partners to 14 Partners & Principals. 16 staff to 90 (and growing). Many new clients have come on board, while many of our longstanding clients from 2000 have continued to place their trust in us.

This year also represented a change as we moved from our original home of 25 years, to our new premises. In early June this year, we packed up our gear and moved to the other side of Hindmarsh to our new purpose-built home on Holden Street, directly opposite Coopers Stadium. Our new offices allow us to keep our firm growing strong for the foreseeable future. We designed our client and staff areas to be as accommodating, relaxing and productive as possible, and we have had overwhelmingly positive feedback. If you have not had a chance to visit us yet, we look forward to welcoming you soon.

Each year, we also celebrate our team members who complete their professional studies and become Chartered Accountants. This year, we are proud to congratulate Alex Caporella, Courtney Duffy, Heidi Marley, Edwina Roeger and Tom Messenger on reaching this important milestone in their careers.

We celebrated several key staff anniversaries this year:

• 25 Years - Rick Albertini, Sharon Lloyd and Shali Manolev
• 20 Years – Matt Holden and Leanne Schuppan
• 15 Years – Bradley Barnes and Christina Gulliver
• 5 Years – Edwina Roeger and Rosalie Sweet

And we farewelled Danny Haydon as a Principal of our business … but he has not moved far. Danny is still currently Chair of our Advisory Board, and will continue working closely with us on our medical clients through his Haydon Health advisory practice.

As the year comes to an end, our team looks forward to some well-deserved rest over the Christmas and New Year break. Our office will be closed from midday on Friday, 19th December 2025 when our team will be celebrating the year that was over some good food, drink and company at the Lakes Resort Hotel. We will re-open on Monday 5th January 2026 for those whose New Years’ Resolutions include catching up with your accountant at the earliest opportunity.

On behalf of the Partners, Principals, and the entire Brentnalls SA team, we extend our warmest wishes for a Merry Christmas and a prosperous New Year. We look forward to continuing our journey together, building on our successes, and embracing the opportunities that 2026 will bring. Thank you for your continued support and trust in us

Matt Holden

Managing Partner



Team Member News

Matt celebrates 25 years at Brentnalls SA

I still remember 20 years ago catching up with Rick Albertini for breakfast and him putting to me the idea of joining Brentnalls SA. A quick follow up meeting with John Crouch and Craig Farrow, and I was sold.

20 years have blown by. I have been extremely fortunate to work with some amazing mentors in Rick, John and Craig, and developed life-long friendships with many who I have had the privilege of working with over this time.

Becoming a Partner in 2012 was one of my proudest moments in my professional career. In 2020, my fellow Partners entrusted me with the role of Managing Partner, and it is one which I have valued and cherished since.



As a business, through this period of change and growth, I am most proud that our commitment to our values has never wavered: Client First. Can Do. Openness & Integrity. High Performing. These are just as important to us today as they were 20 years ago, and will continue to be for as long as I am around.

I could not have achieved a fraction of these things without the support (and patience!) of my wife Makella. She is my rock… and the highlight of each day is coming home to Makella and our children, Isla, Nate & Maisie.

Thank you to all of those who I have worked with these past 20 years. Looking forward to the next 20. I might be done after that! 

Rick celebrates 25 years at Brentnalls SA

Today I’m grateful to celebrate 25 years at Brentnalls SA — a milestone that has given me the chance to reflect on an incredibly rewarding journey.

The most fulfilling part of my career has been the opportunity to make a meaningful difference in the lives of our clients.

Helping business owners clarify their strategy, scale with confidence, build highly profitable and valuable companies, and ultimately achieve financial freedom — often well earlier than they ever thought possible — has been a true privilege.

I’ve also been fortunate to work alongside extraordinary people. Watching team members who joined us straight out of school, or through earlier professional connections, grow into exceptional leaders and now fellow partners has been one of the most inspiring and proud aspects of my time at Brentnalls SA.

Together, we’ve shaped a firm that has grown into one of the most respected and sought-after advisory businesses in Australia — something I’m incredibly proud to be part of.

Most importantly, none of this would have been possible without the unwavering love and support of my beautiful wife, Lorraine, and our children, Tayla and Thomas. Their encouragement has been the foundation of everything I’ve been able to achieve.

Thank you to everyone who has been part of this journey. Here’s to the next chapter — continuing to create impact, unlock potential, and help people achieve more than they ever imagined.

Meet Olivia Phillips.

How long have you been at Brentnalls?

 I have been at Brentnalls for just over 4 years.

Favourite part about your role?

My favourite part of my role is working alongside a supportive, collaborative team. I enjoy using my problem-solving skills in day-to-day tasks and appreciate the variety that comes with working across different accounts and clients. There’s also a real sense of satisfaction in seeing a final product come together after hours of dedication.

When you are not at work where will we find you?

When I am not at work you will find me spending time with my partner and two cats watching any form of reality show, my current fixation is Love Island Australia. You could also find me hanging out with friends while going out for morning coffee or a walk along the beach.

Favourite restaurant in Adelaide:

My favourite restaurant is Osteria Oggi.

Favourite ice cream flavour:

Ben& Jerriy’s Chocolate Chip Cookie Dough ice cream.

Coffee order:

A small latte with almond milk, iced if it’s a warmer day.

Fat Farmers

Fat Farmers is excited to announce a new partnership with Active Farmers to boost the health and wellbeing of rural communities. After over a decade of dedicated efforts, this collaboration aims to amplify their impact across Regional Australia. Both organisations are committed to improving rural lives and fostering healthier communities. By merging resources, networks, and experience, they plan to support more towns and individuals than ever before.

This partnership is about creating a greater impact, extending their reach, and enhancing the quality of life in the regions they serve. Fat Farmers looks forward to engaging with more communities and making a lasting difference.

We are proud to support them as they embark on this promising new phase with Active Farmers. Together, they are stronger and will achieve more.

A Prayer for The Wild at Heart restaurant wins Best Wine List at national awards

Our client, Emily Raven, who owns Adelaide's French-inspired restaurant, A Prayer for the Wild at Heart, has been named Best Wine List (max 200 bottles) at the Australian Wine List of the Year Awards, placing it among the most celebrated venues in the country.

For Emily, the recognition is a reflection of her dedicated and talented team. “It was such a thrill to see our sommelier, Mathilde Tytgat, take one of the top awards,” Emily said.

If you haven’t yet visited A Prayer for the Wild at Heart, maybe it’s time you did to see what all the accolades are about. A Prayer for the Wild at Heart is located at 44 Hurtle Square, Adelaide.

Anna Binna Team Featured in GRDC

Our client, Anna Binna, was featured in GRDC for the remarkable success of the Anna Binna team, who achieved a 300% yield increase from a challenging paddock.

On South Australia's Yorke Peninsula, the team transformed deep "crab hole" soils through large-scale landforming, moving 1.2 million tonnes of soil to create uniform, productive ground.

The results?

• Significant reductions in waterlogging
• More consistent barley performance
• Improved infiltration and nutrient use
• A long-term boost in whole-farm profitability

This grower-led redesign of challenging land offers valuable insights for anyone managing variable soils.

Read the full story here.

Changes to Div 296

What You Need to Know...

After extensive consultation, the Australian Federal Government has made significant revisions to the previously announced Division 296 tax. This proposed tax is still aimed at curbing superannuation tax concessions for individuals whose total superannuation balance (TSB) surpasses $3 million but the controversial tax on unrealised gains, which was initially muted, has now been removed.

The measure now proposes an additional 15% tax on the portion of attributed fund earnings that exceed this $3 million threshold.

Additionally, for those with a TSB over $10 million, an extra 10% tax would be levied, raising the Division 296 tax rate to an additional 25% on earnings, above the $10 million mark.

How will the Tax Work?

The Division 296 tax is applicable to individuals with more than $3 million across all their Australian superannuation accounts as of 30 June each year. This includes various types of super, such as self-managed super funds (SMSFs), large industry or retail funds, and certain defined benefit pensions.

The tax outcome is progressive across two bands. For the portion of a member's TSB between $3 million and $10 million, an additional 15% tax applies to the attributable earnings, on top of the fund's existing 15% rate. For amounts above $10 million, the design results in a higher effective tax on attributable earnings, so that individuals with ultra-high balances face a greater additional burden. Both thresholds will now be indexed, with the $3 million threshold increasing in $150,000 increments and the $10 million threshold in $500,000 increments.

Funds, including SMSFs, will calculate their taxable or realised earnings for the year, attribute a appropriate share of those earnings to members whose TSB exceeds the lower threshold, and report these figures to the ATO. The ATO will continue to aggregate TSBs across all super interests for each individual and issue any liability notices. This represents a practical shift of compliance responsibilities from ATO reconstruction to trustee calculation and reporting.

The proposed start date is 1 July 2026, with the first assessment of an individual's TSB against the Division 296 thresholds to occur on 30 June 2027. This will make the 2026-27 financial year the first Division 296 income year, with the first assessments issued in 2027-28.

Certain individuals are exempt from this measure, including children receiving super income streams, those with structured settlements for personal injury, and individuals who pass away before the end of the year.

What Should You Do Now?

• Review your current and projected super balances to assess potential future impacts.
• Seek professional advice before making any withdrawals or significant changes, as there may be broader tax, retirement, and estate planning implications.
• Ensure your fund’s records and asset valuations are up-to-date and robust, especially for SMSF members.
• Start the conversation early with your adviser at Brentnalls SA.

Key Points to Remember

• Super remains a highly tax-effective retirement vehicle, even with these changes.
• Don’t rush to withdraw super solely due to media headlines—seek advice on your situation.

Navigating the New Superannuation Landscape:

Key Changes and Implications of the Payday Superannuation Act 2025

A significant development in superannuation law has officially passed through Parliament and will soon impact business operations. The Treasury Laws Amendment (Payday Superannuation) Act 2025 received Royal Assent on 6 November 2025, following its passage through both houses. Despite extensive industry consultation, the final legislation reflects minimal changes from the earlier draft.

This new law aims to address key concerns within the superannuation framework, ensuring businesses remain compliant with evolving regulations. It is essential for employers to understand these changes and prepare their payroll processes accordingly.

Overview of the Act

The Act amends the Superannuation Guarantee (Administration) Act 1992 as follows:

• Payment Deadlines: From 1 July 2026, super contributions must be received by the superannuation fund within 7 business days after payday, compared to the current 28 days after the end of the quarter. This change aims to streamline and expedite super payments.
• SG Charge and Contributions: An SG charge equal to any shortfall will apply on payday. However, timely contributions can offset this charge. Employers have a 12-month period to carry forward excess contributions.
• Penalties and Disclosure: Starting 1 July 2026, failure to remit the correct SG contribution within the designated 7 business days will attract hefty penalties. Voluntary disclosure statements can mitigate the administrative uplift component of these penalties.
• Employer Exemption Certificates: The process for obtaining exemptions when an employee has multiple employers has been simplified, reducing application timeframes and allowing for backdating.
• Tax Deductibility: The Super Guarantee Charge (SGC) payment (core amount of the shortfall + notional earnings + uplift) will now be deductible as of 1 July 2026. Any general interest charges (GIC) accrued, and penalties applied on the shortfall will remain non-deductible amounts.
• SGC Statements: Employers will no longer be required to lodge a SGC statement for each quarter with the shortfall. The ATO will now determine the SGC automatically from the reported data it receives from employers. There will still be an option for employers to make a voluntary disclosure prior to the ATO’s assessment.

ATO Compliance Approach

The Australian Taxation Office (ATO) has issued a draft Practical Compliance Guideline (PCG) outlining its approach to the first year of Payday Super implementation. Employers will be categorised into low, medium, and high-risk zones based on compliance, with a focus on high-risk categories during the 2027 financial year.

Unresolved Issues

Some challenges remain, including:

• Superannuation Clearing Houses: While convenient, they may not ensure timely receipt of contributions by the funds. Employers are encouraged to make direct payments to avoid penalties.
• Self-managed Superannuation Funds (SMSFs): Contribution reporting lags until annual returns are filed, potentially increasing penalties for dated shortfalls.

Next Steps

With the Act now law and the framework taking effect from 1 July 2026, businesses have a narrow window to adjust systems and processes. Some businesses may also be faced with cashflow challenges as a result of this change.

For tailored advice on how these changes may affect your business and how best to prepare, feel free to reach out to us at Brentnalls SA.