Over the decades, we have heard the one-liners such as ‘this is the recession we had to have’. When the Australian Government handed down its Federal Budget on Tuesday, 6 October 2020, it was a case of ‘this is the deficit we had to have’, writes Wayne Debernardi, general manager public affairs, Institute of Public… Read more »
The Australian economy was in pretty good shape going into this pandemic. It’s fair to say, if you had to be in any country in the world to get through this recession it would be Australia. ECONOMY Real GDP is forecast to fall by 3. per cent in 2020 before recovering in 2021 to grow… Read more »
This year’s budget deficit is holding up better than expected. The last official budget update was released before Melbourne’s Stage 4 lockdowns and the policy reactions to that, including spending $15.6 billion more via easier eligibility for JobKeeper, as well as another $2 billion to extend telehealth. So you could be forgiven for thinking the… Read more »
The 2019 budget brought many wins for the nation’s small business owners, including an increase to the instant asset write-off, investment into an apprenticeship scheme, increased infrastructure spending and a $60 million injection into the export market. Yet industry experts and small business advocates suggest more could be done to ease the burden on Australia’s… Read more »
As we approach the release of the 2019-20 federal budget on April 2, it’s worth noting that the proposals unveiled will be just that: proposals. Some will hit snags in Parliament, some may be rewritten, and some could be scrapped if government changes hands. With that caveat in mind, here are some bills from the… Read more »
Trent Innes, managing director of Xero, shares his top tips to kick off the new financial year right! Start today The word ‘budget’ can turn small business owners into a tailspin with the reputation of being overwhelming, complex and boring. But at the heart of it, there are just three broad sets of figures to… Read more »
If you’re expecting major reforms from this year’s budget, the experts at Thomson Reuters suggest you might be out of luck. Here are their tips for what SMEs can expect. According to Thomson Reuters’ Senior Tax Writer, Ian Murray-Jones, the Turnbull government has switched its focus from delivering major reforms to short-term wins as it… Read more »
Small business owners are being warned to plan ahead for tight cash flow and less orders, as Australians reduce their spending, resulting from Christmas debt and back-to-school expenses which impacts their wallets, according to Roger Mendelson, CEO of Prushka Fast Debt Recovery. He says small businesses should expect less income in February and early March as… Read more »
In many small businesses it is common for cars to be used for both business and private purposes. When it comes to a big purchase like a car, you want to know that you are making the right decisions. In all the excitement you can get easily carried away and spend way more than you… Read more »
It’s a great start to the new year for (bigger) small businesses. Around the country small businesses could be given another 12 months to cash in on the government’s $20,000 instant asset write-off scheme that was initially introduced in mid-2015. Former Federal Treasurer Joe Hockey introduced a tax initiative where small businesses could write-off $20,000… Read more »
If you’re on a tight budget and aren’t ready to throw caution to the wind, there are some safe, easy ways to slowly ease into the world of entrepreneurship by building your brand on a budget.
Travel, meals and entertainment are often necessary parts of business, here’s how you can better manage these expenses and scale back on costs.