Business News Update – 7th July 2022

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 to keep your tax bill low

Invoice

With tax time upon us, here are 8 simple ways you can maximise your refund or keep your bill as small as possible.

It’s a good time to catch up on your taxes

Calendar

It’s required to lodge your tax return every year, and most of us do. Those who don’t, however, could face up to $9000 in penalties or even jail time.

Interest rates rose again this week

Interest, Rate

The Reserve Bank of Australia triggered another interest rate rise this week lifting the official cash rate to 1.35% in a bid to deal with inflation.

Ingredient cost comparison at the big 3 supermarkets

Produce

The humble stir fry is one of the easiest, cheapest meals you can put on the table – or at least it was. With the price of fresh produce skyrocketing, many Australians now find the cost to whip up a stir fry ‘depressing.’

Reserve Bank pushes for more frequent inflation data after being laughed at

Inflation

At a financial forum this month in Switzerland, world bankers laughed at Governor Phillip Lowe when the RBA chief lamented the fact his team doesn‘t receive monthly statistics like central banks in Europe and the US.

Many Aussies received pay rises last week

Australia, Flag

Millions of workers received a pay bump on Friday when the Fair Work Commission’s annual wage review came into effect.

Thousands of Millennials are back to living back at home

Family, Home

The latest census data reveals that the number of Millennials living at home has soared by thousands amid the pandemic, insecure work and an increasingly unaffordable rental market.

Analyst predicts Australian economy is months from ‘bottoming out’

Australian analyst Aryan Norozi of Barrenjoey predicts retailers are in the early stages of a years-long decline. He stressed that no two economic cycles are exactly alike, however.

House prices fall for the second month in a row

House, Rate

Rising interest rates are taking their toll, as house prices continued to decline this month. Falls are expected to accelerate in the coming months.

Hot chip prices to skyrocket

Fries

WA Chip, the last remaining commercial chip manufacturer and supplier to many of WA’s shops, warned customers that prices will be going up after their gas bill increased to a whopping $1,000,000 last year.

Get In touch

Diary

Want to access more tailored business advice? Book a one-on-one consultation with our expert advisors today!

Contact us if you have any questions or want to discuss the next steps for your business.

The 2 Peas Team

P: 1300 896 732

E: admin@twopeas.com.au