The Australian Government Removes Work Test for Voluntary Superannuation Contributions
The Australian Government has announced that older Australians in SMSFs will be able to contribute earnings or savings directly into superannuation funds with the repeal of the “work test”. As part of the May 2021 Federal Budget, new changes will enable individuals aged between 67 to 74 years to make or receive non-concessional including under […]
Number of Long-Term Unemployed Australians Has Increased By 39 Percent Over the Past Year
Figures from the Australian Bureau of Statistics (ABS) released on Thursday 29th April illustrate that long-term unemployment in Australia is at the highest it has been in over 26 years with more than 244,000 people out of work for at least 12 months or more. The number of long-term unemployed Australians has risen by almost […]
Nearly 500,000 Small Business Trading Without Digitalisation
Nearly 500,000 small businesses across Australia are currently trading with little to no digitalisation measures, while 34 percent of business who have were found to be more profitable as a result. On Tuesday 11th May MYOB published the findings of new research which discovered that 466,062 small and medium-sized businesses have been left in the […]
Business Confidence in Australia Reaches 7 Year High
In April 2021, business confidence surged to a seven-year high, increasing from 62.9 to 125.3 thus rising by 48.4 points from levels recorded 12 months ago. Just over one year ago, business confidence hit a covid-19 pandemic record low of only 76.9 during the month of April 2020. Business confidence is 11.6 points above the long-term […]
The Benefits of Embracing Digitalisation
The conception of digitalisation is something that thrills some business owners but at the same time frightens others just as much. If you run a business, many digitalisation options might have already been introduced into your business strategy. At the same time, you might also be hesitant to implement various elements of digitalisation. It is […]
Australia’s Unemployment Has Fallen To 5.5 Percent Despite JobKeeper Ending
Recent figures released by the Australian Bureau of Statistics (ABS) have revealed that Australia’s unemployment has fallen to 5.5 percent. This has surprised many people, due to the fact that when the federal government’s JobKeeper wage subsidy ended on the 28th March it was anticipated to create a cliff that would plunge thousands of workers […]
Summary of the 2021 Victorian State Budget
On Thursday 20th May, the Victorian Treasurer Tim Pallas delivered the State Budget for 2021-22. The Budget was described by the state government as Victoria’s road to recovery, this plans to achieved by investing in some transformational changes, especially in the space of mental health support. During the 2020-21 financial year Victoria recorded a significant […]
The Queensland Government Launches $7.5 Million Campaign to Assist Tourism Sector
The Queensland Government is hoping that a brand new $7.5 million campaign will be able to persuade thousands of workers from around Australia to relocate to Queensland in order to help rebuild its struggling tourism sector. Launched on Thursday 20th May, the “Work in Paradise” campaign intends to offer eligible workers $1500 in cash, travel […]
The Federal Government Announces Tax Cuts Aiming to Reduce Unemployment
As part of the upcoming federal budget, the Australian Government has announced that it will give 10 million working Australians a one-off tax cut. The purpose of this incentive is to boost the economy as it has been revealed that the number of long-term unemployment across the country is drastically increasing despite Australia’s quick rebound […]
The Current Rate of Underemployment in Australia
When the Australian Bureau of Statistics (ABS) releases its monthly survey of the labour force, a person is only required to work a minimum of 1 hour a week to be considered as “employed”. On the surface this might make people believe that the government is trying to manipulate the unemployment data to make the […]
