Tax relief for small businesses
The Federal Government has announced a tax law amendment allowing small businesses a 20 percent reduction in PAYG (pay-as-you-go) obligations. This will result in reduced quarterly payments for most businesses.
The Federal Government has announced a tax law amendment allowing small businesses a 20 percent reduction in PAYG (pay-as-you-go) obligations. This will result in reduced quarterly payments for most businesses.
Adeline Teoh
Author
February 19, 2009
February 19, 2009
A survey conducted by consulting firm Grant Thornton has found that while a third of the Australian businesses surveyed indicated that decline in demand was an obstacle to growth, more than half were diversifying to capture new markets and 37 percent were developing new services. “Although a shortage in customer orders might derail the growth […]
Adeline Teoh
Author
February 19, 2009
February 19, 2009
US President Barack Obama has signed The American Recovery and Investment Act, a US$787 billion (A$1.2 trillion) economic stimulus package that will combine new infrastructure spending and tax breaks for the purposes of creating more than 3 million jobs. But the bill includes a Buy American provision that will affect US trading partners. The Buy […]
Adeline Teoh
Author
February 18, 2009
February 18, 2009
Japan’s economy shrank at a rate of more than 12 percent per annum in the last quarter of 2008, with fears that the decline of Australia’s largest trading partner by revenue will adversely affect the Australian economy. The world’s second largest economy recorded a 3.3 percent decline in the three months to December 2008. Japan […]
Adeline Teoh
Author
February 17, 2009
February 17, 2009
The Federal Government will join with commercial banks as part of the Australian Business Investment Partnership in a $4 billion project to support the commercial property sector. Australia’s four biggest banks will provide $2 billion, matched by the government’s $2 billion, to go to a variety of projects including office, retail and factory developments. The […]
Adeline Teoh
Author
February 16, 2009
February 16, 2009
Results from a study conducted for American Express Global Commercial Card by Accenture, shows that businesses have begun to hold staff more accountable for business spending. This includes implementing a policy around spending, educating staff about the consequences of their expenditure, and enforcing the policy. Other strategies included data analysis—benchmarking expenditure against other businesses and […]
Adeline Teoh
Author
February 13, 2009
February 13, 2009
Federal Treasurer Wayne Swan has encouraged business owners to contact the government if they believe their bank is treating them unfairly. Because of the government guarantee, banks should ensure a sufficient flow of credit, he believes. “If there are viable businesses that have an adequate income and are profitable into the future, then they should […]
Adeline Teoh
Author
February 12, 2009
February 12, 2009
Thirty-two environmental projects comprising 400 skilled workers have received funding from the first round of the Federal Government’s Climate Ready program. Minister for Innovation, Industry, Science and Research Senator Kim Carr offered $26.6 million in funds to projects ranging from wind turbine production to water saving solutions. “Not only have these 32 innovative projects identified […]
Adeline Teoh
Author
February 11, 2009
February 11, 2009
The Australian Retailers Association (ARA) has warned its members about proposed Federal Government workplace laws that could lead to an increase in retail wages by 14 percent. An email sent out to 5,000 recipients urged retailers to take advantage of the last days of the Howard government’s WorkChoice laws before the new laws come into […]
Adeline Teoh
Author
February 10, 2009
February 10, 2009
Research released by credit reporting agency Dun & Bradstreet (D&B) sees one in nine businesses in the ‘high risk’ category of financial distress, according to a report by The Weekend Australian. This puts more than 100,000 small to medium sized businesses in the path of failure. SMEs contribute to about a third of gross domestic […]
Adeline Teoh
Author
February 9, 2009
February 9, 2009