Business News Update – 22nd February 2024

Welcome to this weeks edition of the Business News Update. Read on for the latest updates in regard to Regulations and Business News, hopefully providing information to help you to successfully move forward. Big reason interest rates will be cut – and soon Rate cuts aren’t forecast until December 2024 but this prediction doesn’t tell the full story of what’s happening in Australia. Australia’s economy likely to slow until stage-three…  Read more

Business News Update – 15th February 2024

Welcome to this weeks edition of the Business News Update. Read on for the latest updates in regard to Regulations and Business News, hopefully providing information to help you to successfully move forward. Assistance for businesses affected by storms or floods The Australian government is offering financial aid to businesses affected by floods through various programs. Support includes concessional loans, grants, tax relief, and counseling services. The aim is to…  Read more

Business News Update – 8th February 2023

Welcome to this weeks edition of the Business News Update. Read on for the latest updates in regard to Regulations and Business News, hopefully providing information to help you to successfully move forward. Australian house prices poised for record surge in 2024, predicts Commonwealth Bank economist Australian homeowners may be in for a windfall this year as the country’s largest bank, the Commonwealth Bank of Australia (CBA), anticipates a significant surge…  Read more

Business News Update – 1st February 2024

Welcome to this weeks edition of the Business News Update. Read on for the latest updates in regard to Regulations and Business News, hopefully providing information to help you to successfully move forward. Data Privacy Day 2024: Aussies want transparency, businesses need action On Data Privacy Day, observed each year on January 28th, Australians and businesses are reminded of the vital importance of privacy. “Ironically, Data Privacy Day is a reminder…  Read more

Business News Update – 25th January 2024

Welcome to this weeks edition of the Business News Update. Read on for the latest updates in regard to Regulations and Business News, hopefully providing information to help you to successfully move forward. NAB CEO’s 2024 economic outlook NAB CEO Ross McEwan says Australia is well-placed to recover in 2024 as Australians respond quickly to sharp cost of living increases. Blockchain start-up backed by major banks collapses into liquidation owing…  Read more

Business News Update – 18th January 2024

Welcome to this weeks edition of the Business News Update. Read on for the latest updates in regard to Regulations and Business News, hopefully providing information to help you to successfully move forward. High chance’ of RBA achieving its goals in 2024: CBA Commonwealth Bank of Australia chief economist Stephen Halmarick has predicted that the central bank’s desired outcomes from increasing interest rates are likely to come to fruition this…  Read more

Business News Update – 11th January 2024

Welcome to this weeks edition of the Business News Update. Read on for the latest updates in regard to Regulations and Business News, hopefully providing information to help you to successfully move forward. Australia-India trade deal a win for exporters In December, Tim Ayres, Australia’s assistant trade minister, visited India to evaluate the advancements in the pact. The Economic Cooperation Trade Agreement, signed in April 2022 and effective from December…  Read more

Business News Update – 21st December 2023

Welcome to this weeks edition of the Business News Update. Read on for the latest updates in regard to Regulations and Business News, hopefully providing information to help you to successfully move forward. House price growth ‘way better than expected’ as further rises expected in 2024 REA Group Economic Research Director Cameron Kusher says the growth in house prices has been “way better than expected” as it was predicted last…  Read more

Business News Update – 14th December 2023

Welcome to this weeks edition of the Business News Update. Read on for the latest updates in regard to Regulations and Business News, hopefully providing information to help you to successfully move forward. Australia’s GDP is going backwards We have now had three consecutive quarters of falling GDP on a per capita basis. That last happened 40 years ago during the 1982-83 recession. That is not good. And it doesn’t get…  Read more

Business News Update – 7th December 2023

Welcome to this weeks edition of the Business News Update. Read on for the latest updates in regard to Regulations and Business News, hopefully providing information to help you to successfully move forward. Jim Chalmers welcomes OECD prediction RBA has reached interest rate peak The treasurer, Jim Chalmers, has welcomed a projection by the OECD that the Reserve Bank has probably reached its interest rate peak but played down the prospect of…  Read more

Business News Update – 30th November 2023

Welcome to this weeks edition of the Business News Update. Read on for the latest updates in regard to Regulations and Business News, hopefully providing information to help you to successfully move forward. Australia’s unfair contract terms rules have changed: Here’s what you need to know Unfair contract terms in standard form consumer or small business contracts are now illegal after after new laws took effect on 9 November 2023. …  Read more

Business News Update – 23rd November 2023

Welcome to this weeks edition of the Business News Update. Read on for the latest updates in regard to Regulations and Business News, hopefully providing information to help you to successfully move forward. How much Aussies plan to spend on Christmas presents this year Australians are set to spend more on Christmas presents this year despite high inflation, interest rate hikes and cost of living pressures on households. The Christmas Retail…  Read more

Business News Update – 16th November 2023

Welcome to this weeks edition of the Business News Update. Read on for the latest updates in regard to Regulations and Business News, hopefully providing information to help you to successfully move forward. Are you providing entertainment this holiday season? Before you hire a restaurant or book an event, make sure you work out if the benefits you provide your employees are considered entertainment related, and therefore subject to fringe…  Read more

Business News Update – 9th November 2023

Welcome to this weeks edition of the Business News Update. Read on for the latest updates in regard to Regulations and Business News, hopefully providing information to help you to successfully move forward. Cost of living rising faster than inflation for Aussie workers The cost of living for Australian workers is climbing faster than inflation as households around the country fall off the fixed-rate mortgage cliff and battle surging petrol prices. New data released…  Read more

Business News Update – 2nd November 2023

Welcome to this weeks edition of the Business News Update. Read on for the latest updates in regard to Regulations and Business News, hopefully providing information to help you to successfully move forward. Australia’s SMEs outshine global peers in latest Xero report Recent Xero data reveals the ongoing resilience of Australian small businesses despite a deceleration in sales and wages growth. Sales growth remains stronger compared to other XSBI markets.…  Read more

Business News Update – 26th October 2023

Welcome to this weeks edition of the Business News Update. Read on for the latest updates in regard to Regulations and Business News, hopefully providing information to help you to successfully move forward. LoanOptions.ai crosses the ditch to launch in NZ market A Sydney-headquartered fintech that allows users to apply for loans in under eight minutes is expanding its services with a market entry into New Zealand, following a year…  Read more

Essential bookkeeping practices for start-ups

Starting a new business is exciting, but it also comes with its fair share of responsibilities. One of the most critical responsibilities is maintaining accurate records of your business transactions. From saving receipts to processing employee payroll, every money-related detail should be documented. It’s not just about keeping things tidy; it’s about understanding the financial health of your business and meeting all your tax obligations. Don’t underestimate the basics Some…  Read more

The differences between BAS and IAS

Running a business comes with a lot of financial responsibilities, and as a business owner, you’ve probably come across terms like BAS (Business Activity Statement) and IAS (Instalment Activity Statement). While they may sound similar, understanding the differences between these two statements is crucial for maintaining compliance and staying on top of your tax obligations. In this article, we’ll break down the nuances of both BAS and IAS and provide…  Read more

Business News Update – 19th October 2023

Welcome to this weeks edition of the Business News Update. Read on for the latest updates in regard to Regulations and Business News, hopefully providing information to help you to successfully move forward. Concerns raised as small businesses suffer a spending ‘cold snap’ New data from MYOB reveals that small businesses are experiencing what is called a spending ‘cold snap’ with cash and EFT deposits on a decline since June…  Read more

Unravelling the mystery of missing profits: A guide for new business owners

Starting a business is a wild ride with its fair share of ups and downs. One hurdle many new entrepreneurs encounter is the difference between the profits they expected and the hard cash available at the financial year-end. This guide aims to alleviate these concerns by shedding light on where your missing revenue might be hiding. Possible causes of missing profits There may be several reasons why your business has…  Read more