A surprising amount of Australia’s small-medium enterprises (SMEs) lack a working knowledge of foreign direct investment (FDI) and how it relates to the economy and their business. Findings released from Bentley’s The Voice of Australia Business Survey has revealed that 64 per cent of SMEs have ‘no idea’ how much FDI contributes to Australia’s Gross Domestic Product […]
Medium and large-sized businesses now have more time to ensure they are SuperStream compliant after the Australian Taxation Office (ATO) extended the June 30 due date. The ATO has announced that employers now have until 31 October 2015 to be SuperStream-ready, but remind employers that they should already be implementing the steps needed to comply with the […]
The Australian Taxation Office (ATO) has sprung surprise visits on business and residential sites across Sydney in an effort to tackle widespread phoenix activity. The last two days saw the ATO, the National Anti-Gangs Squad, and the NSW Police Gangs Squad Strike Force Raptor and Middle Eastern Organised Crime Squad, conducting access stopovers without notice; […]
The latest Roy Morgan Research Business Confidence levels have revealed a May increase of 9.6 points from April, which still leaves confidence below the five-year average. Business confidence hit 114.7 in May, the highest point since the 114.9 registered in January 2015 and well below the 136.3 high seen in October 2013. “The increase in […]
The Australian level of manufacturing exports has seen its first rise since in November 2014, according to the latest readings from the Australian Industry Group Australian Performance of Manufacturing Index (Australian PMI®). The Australian PMI® hit 52.3 in May, a rise of 4.3 points. The Australian Industry Group (Ai Group) says that a reading above […]
PricewaterhouseCoopers (PwC) has released their submission to the Tax Reform White Paper process, calling for a need to hold no “sacred cows or panaceas” when reviewing the country’s tax system. Tom Seymour, PwC Managing Partner Tax and Legal, said the nation would not see housing become more affordable, or see a rise in job security […]
The release of last week’s Budget has boosted Consumer Confidence by 3.6 per cent, according to the latest ANZ-Roy Morgan Consumer Confidence results. The 3.6 per cent rise in confidence resulted in a jump to 114.6, the highest score registered since November 2014. The last fortnight has seen a 5.4 per cent cumulative rise, with […]
Consumer confidence has strengthened following the Reserve Bank of Australia’s decision to cut the cash rate to a record low of 2.0 per cent. The latest ANZ-Roy Morgan Consumer Confidence report has revealed Consumer Confidence has risen by 1.7 per cent, reaching 110.6 last week. While confidence levels are up, 7 per cent higher compared to the […]
The Abbott Government has unveiled the 2015-16 Budget, unveiling a $5.5 billion package driven by tax breaks aiming to support the nation’s 2 million-plus small businesses. As was predicted, Australia’s small businesses are to receive a 1.5 per cent tax cut, a $3.3 million Budget slice to benefit small business from July 1. The 1.5 per […]
Australia’s small businesses are said to be receiving a tax cut in tonight’s budget, part of a portfolio that Small Business Minister Bruce Billson described as “delicious” and “delightful”. Mr Billson told ABC radio that the tax cut, expected to be of at least 1.5 per cent, aims to boost and encourage the small business […]