ATO Offers Help To Australians Impacted By Covid-19 and Natural Disasters
The Australian Tax Office (ATO) acknowledges that workers across Australia continue to face huge challenges in regards to the covid-19 pandemic and various natural disasters which have occurred over the past 12 months. Here is some advice to help Australian taxpayers prepare for the upcoming End of Financial Year. JobKeeper JobKeeper payments are not tax […]
Insolvency Rates in Australia Expected to Increase By 10% This Year
In comparison to the rest of the world, Australia appears to have dodged a bullet when it comes to business insolvencies, but it is not out of the woods just yet. Despite the Australian government’s temporary support measures, insolvencies are expected to rise by 10 percent this year and potentially increase by another 10 percent […]
The End Of JobKeeper Has Cost 56,000 Jobs To Date
Newly released data from Single Touch Payroll has revealed that 56,000 workers who were previously on JobKeeper have lost their jobs. This is an increase in 16,000 which is up from the figures of 40,000 jobs from the data published two weeks ago. “The data suggested that up to 40,000 former JobKeeper workers lost employment […]
46 Percent of Small Business Owners Admit to Mental Health Problems
Research published by MYOB has shown that 46 percent of small and medium sized business owners believe that running their own business has directly contributed to feelings of depression or anxiety. Furthermore, another 26 percent ranked mental health as an “immediate” problem in their daily life and workplace. These figures illustrate that the pandemic is taking […]
Tips for Avoiding Confusion Over JobKeeper Payments at Tax Time This Year
Australian businesses and their workers who benefited from the federal governments JobKeeper wage subsidy will now have to navigate what it all means at tax time. On top of this, many individuals who withdrew their superannuation during the covid-19 pandemic to support themselves financially might also be unsure of their requirements at tax time too. […]
Small Businesses Save $8.9 Billion Through Recommendations from Advisers
Throughout the covid-19 pandemic, Australian small businesses have sought the advice of accountants and bookkeepers to help overcome the many challenges they have been dealt with during one of the most unpredictable times of human history. Recent research illustrates that $36.4 billion was injected into the small business sector through grants, investment guidance, or other […]
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 […]
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 […]
The Fallout of JobKeeper Has Been Overstated
The Australian Government has revealed that between 16,000 and 40,000 workers who were on JobKeeper during its final stage have lost employment since the $90 billion wage subsidy program was discontinued on Sunday 28th March. The recently released figures, are drawn from estimates from Single Touch Payroll microdata for the fortnight ended Sunday 11th April, […]
70,700 New Job Were Added to The Australian Workforce in March 2021
The Australian Bureau of Statistics (ABS) has announced that almost 71,000 new jobs were added to the Australian workforce between February and March 2021. The total hours worked has also returned to the same levels that were recorded prior to the covid-19 pandemic. These figures are also illustrating hat there is a big increase in […]