Economy

Australia’s standing in the OECD rankings for employment of mature age workers has moved up, yet it still remains far behind New Zealand’s strong results.

Three measures aimed at supporting small business were introduced yesterday as part of the Government’s $5.5. billion Jobs and Small Business package.

Small businesses look to be responding to the Federal Budget’s stimulus.

13 out the 19 industries covered recorded a rise in employment numbers, with Arts and Recreational Services taking a big lead.

Australia’s manufacturers are seeing improving conditions, according to the latest ACCI-Westpac Survey of Industrial Trends.

While the ICT sector has grown and there has been a 5 per cent rise in the number of ICT professionals, the number of ICT graduates has actually dropped from the early 2000s.

The top 1 per cent of Australia’s high incomes couples set for retirement in 2055 will be receiving over $5 million in government assistance, according to estimates revealed by Industry Super Australia (ISA).

Medium and large-sized businesses now have more time to ensure they are SuperStream compliant after the ATO extended the June 30 due date.

A surprising amount of Australia’s small-medium enterprises lack a working knowledge of foreign direct investment and how it relates to the economy and their business.

The latest Roy Morgan Research Business Confidence levels have revealed a May increase of 9.6 points from April, which still leaves confidence below the five-year average.

While the $5.5 billion package has been well received, the questions facing Australia’s two million-plus small business owners are two-fold: what does it mean for me and what to do with the incentive?

The ATO has sprung surprise visits on business and residential sites across Sydney in an effort to tackle widespread phoenix activity.

In its submission to the Tax Review, Industry Super Australia has forecast that close to 50 per cent of Aussies retiring from now to 2055 will not have the income necessary for a comfortable retirement.

While new orders and production sub-indexes both saw climbs, to 52.8 and 52.9 respectively, manufacturing sales dropped for the 12th month, hitting 47.9.

Tom Seymour said the nation would not see housing become more affordable, a rise in job security, and a boost in education if major tax reform were not accomplished.

Nothing new about the ‘doing more with less’ strategy, but what happens when a business operator ‘doing more with less’ decides to ‘do even more with even less?’

The value of turnover to be sourced from major construction work is forecast to drop by 4.3 per cent by the end of 2015, with a further decline of 1.7 per cent expected to be seen in 2016.

A jump in mental health conditions among the country’s 18-24 year-olds has led to a big rise in the number of young Australians looking for work.

The lowest tax burden coupled with the lowest interest rates since the late 1960s means that Australian small businesses have not experienced such great conditions since the days of black and white TV.

The ACTU is calling for the $5.5 billion last week’s Budget offered small business be used to increase the nation’s minimum wage.