Tag: small business

SME Tax Debts Reaches A Record $21 Billion

It can be revealed that, small and medium businesses across Australia owe a total of $21 billion to the ATO (Australian Tax Office). The figures were published according to new data compiled by the Inspector-General of Taxation and Taxation Ombudsman (IGTO). Despite this record figure, the large majority of small business owners have said that […]

Advice For Small Business Owners Wanting To Beat Social Media Fatigue

Social media fatigue is a big problem for business owners. When you are in charge of running a small business, you are required to do the marketing and at times it can be exhausting. However, if your customers are on social media it is super important for you to be active on at least a […]

Victorian Government Announces $280 Million Support Package

On Wednesday 21st July, Victorian Premier Daniel Andrews announced an injection of $282.5 million to Victoria’s business support package, which will now total $484.3 million with the goal to support over 90,000 businesses and sole traders across the state during the course of Victoria’s fifth lockdown. Victorian Businesses who are eligible for the Licensed Hospitality […]

Important Information About Tax Cuts And Super Changes Introduced on 1st July 2021

Tax relief for workers and businesses, higher superannuation payments and housing assistance for first home buyers are just some of the changes set to occur at the start of the new financial year on Thursday 1st July, as a number of measures from the 2021 federal budget come into effect. Arguably the most significant change […]

Government Announces New Support Measures For Victorians In Lockdown

On Thursday 15th July, Prime Minister Scott Morrison and Victorian Premier Daniel Andrews both came to an agreement to offer support to Victorian workers located in the latest covid-19 hotspots who will lose income due to the new restrictions. Victorian workers who have lost between eight and less than 20 hours of work will receive […]

NSW State Government Announces More Support To Help Businesses During Lockdown

The NSW Government has announced a major economic support package worth billions of dollars serving a purpose to help businesses and individuals right across the state who have been impacted by the latest covid-19 lockdown.  Treasurer Dominic Perrottet said the NSW Government was offering support in as many areas as possible, with payroll tax cuts […]

Australia’s Major Banks Announce Loan Repayment Deferrals Amid New Covid Lockdown

Some of Australia’s major banks have announced new support measures to assist businesses and individuals who have been impacted by Sydney’s extended covid-19 enforced lockdown and other snap lockdowns and travel restrictions across the country. With fresh restrictions being tightened on what kind of shopping is deemed “essential” for the purposes of leaving home, more […]

Business Credits Defaults in Australia Increase By 9 Percent

It has been revealed by CreditorWatch that some of Australia’s economic recovery has slightly lost a bit of its momentum, as it has recorded a 9 percent increase in credit defaults across businesses. Recently released figures show that despite the fact that although credit defaults were 43 per cent lower for the three months to […]

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 […]