Cashflow

Changes to Trusts by the Australian Taxation Office will begin to impact small business this year, with business owners urged to complete a new Taxation Plan to avoid trouble.

Woolworths Limited has topped expectations, growing sales by 4.2 percent on last year, or 4.8 percent excluding Woolworth’s volatile petrol division.

Regulation of the housing market is seen as the “next logical step” by Australian Securities and Investments Commission chief economist Alex Erskine as the watchdog claws for power.

Merchandise imports for June were up 4 percent to $17,911 million, an increase of $621 million on May, but is unlikely to impact the RBA’s decision on rates in August.

Setting fees is always a difficult proposition for service businesses and pricing an intangible is much harder than pricing a product. Your fee will, however, represent what you and your expertise are worth.

Singapore based ComfortDelGro Corporation has made a $38.8 million (S$46.8 million) takeover bid for Perth’s largest taxi company Swan Taxis Limited.

Telstra have released a new white paper that concludes that micro-business needs are not being met by banks, particularly as business ownership shifts to Gen X and Y.

The Australian Tax Office (ATO) has teachers, engineers and mechanics in its sights this year, advising that it plans to audit large claims from these professions for the 2009-2010 financial year.

92 percent Baby Boomers plan to travel around Australia after they retire, but half of those surveyed don’t feel confident in having the money to do it when they retire.

Changes are afoot in the way business banking works in Australia and small businesses are now in a prime position as banks compete fiercely for their business.

Ansell will split its business into four ‘Global Business Units’ as it redefines its structure away from the the professional, occupational and personal healthcare market segments.

ASIC will take on supervisory responsibility for Australia’s domestic licensed financial markets from 1 August 2010, The Government announced yesterday.

The Australian Taxation Office (ATO) has revealed today that it has small business in its sights in it’s 2010-11 compliance program.

The Reserve Bank of Australia’s decision to hold interest rates at 4.5 percent is welcomed by home owners still struggling after the sharp increases in interest rates earlier this year.

Employers are warned about a potential spike in staff turnover as the end of the financial year means staff bonuses and salary changes start hitting employee bank accounts.

Accounting and business advisory firm, Hall Chadwick, has established a link with China’s biggest domestically owned accounting firm, ShineWing Certified Public Accountants.

A wave of fraudulent emails purporting to be from the Australian Government are in circulation currently, reportedly concerning Tax Refunds and the end of financial year.

Accountants remain the trusted advisers to Australian small business with almost 70 percent of business owners claiming they would consult their accountant on business decisions.

Confusion among retailers is at an all time high with first phase of the modern award wages for retailers starting yesterday.

With BHP Billiton, Rio Tinto and Xstrata forcing Julia Gillard to bend to their RSPT demands, the Government will halve proposed Company Tax for business.