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Five Australian startups have been shortlisted from a record number of international applicants to participate in FoodBytes! Virtual Pitch 2020, Rabobank’s global food and agri startup discovery program. The Australian-based companies are among 45 food and agri startups, from across 14 countries shortlisted from 340 applicants from around the world. Successful applicants will become a part of […]
Business investment is a key theme in the 2020-21 Budget. Treasurer Josh Frydenberg announced tax changes that are a “game changer” in the way Australian businesses manoeuvre out of one of the worst recessions on record. These changes hope to incentivise capital expenditure and support businesses to offset losses that have been widespread during the […]
Guest authored by Sam Allert, CEO of Reckon With 23 per cent of small businesses concerned they won’t exist this time next year without Government support, there were many eager business owners waiting to hear what the Budget delivered on Tuesday evening. A pre-budget survey conducted by Reckon interviewed over 1000 small businesses and found […]
The business tax changes under the 2020-21 Budget have been met with positive feedback from professional accounting bodies and tax experts. Two of the key announcements under the Government’s business investment strategy are the immediate expensing and loss carry-back provisions for businesses with an annual turnover of up to $5 billion. Under immediate expensing, businesses […]
In what is being dubbed the “jobs budget” the 2020-21 Budget was the opportunity for the Morrison Government to lay out the blueprint for a post COVID-19 economic recovery. Whilst the Budget will land Australia in a $214 billion deficit, the startup sector has seen fruit from the plan, with many measures put in place […]
Last night, the Government announced a $2 billion investment into Research & Development Tax Incentives (RDTIs), scrapping a previously proposed $1.8 billion cut and a $4 million tax refund cap. The changes will apply from 1 July 2021 and will support more than 11,400 companies that claim the RDTI. In addition to the $2 billion […]
The 2020-21 Budget delivers the biggest Australian deficit since World War 2. The Government’s fiscal stimulus of $51 billion during the GFC pales in comparison to the $257 billion in spending unveiled by the Treasurer yesterday. We asked leading Australian economists for their first impressions on the budget and how it affects business investment in […]
Businesses are praising the decision from the Morrison Government’s 2020/21 Budget to invest $800 million into helping SMEs adopt new technology. On Tuesday night, Federal Treasurer Josh Frydenberg presented the Government’s economic roadmap out of the COVID-19 recession. The budget sees $800 million aimed at improving access to digital services for businesses, to “further drive […]
The Government has unveiled the JobMaker Hiring Credit to incentivise businesses to hire young job seekers over the next 12 months. It is expected to create around 450,000 positions for young Australians and cost the Government $4 billion from 2020-21 to 2022-23. What is it? From tomorrow, eligible employers will be able to claim $200 […]
The Government has enhanced instant asset write-off rules to support businesses investment, lowering taxes by an estimated $3.2 billion over the next two years. Businesses with an aggregated annual turnover less than $5 billion The Government will support businesses with aggregated annual turnover of less than$5 billion by enabling them to deduct the full cost […]
This year, Australia will see a $213.7 billion deficit. “Our economic response has come at a significant cost,” said Treasurer Frydenberg in his address on Tuesday evening. The deficit is expected to fall to $66.9 billion by 2023-24. Net debt will increase to $703 billion (36 per cent of GDP this year) and peak at $966 billion (44 […]
This evening the Federal Budget will be announced by Treasurer Josh Frydenberg in Parliament House in Canberra. Having been deemed by Prime Minister Scott Morrison the “most important budget since World War II”, the Government will this evening lay out their plan for economic recovery from the recession created by the COVID-19 pandemic. Follow the […]
The Reserve Bank of Australia (RBA) has kept the official cash rate at a steady, unprecedented low, as the Australian economy continues its slow recovery from the COVID-19 recession The RBA has decided to maintain its cash rate target at 0.25 per cent, on the day the Australian government is due to unveil the long-awaited […]
With the announcement of the Federal Budget looming this evening, start-up executives are calling for more money to be invested into growing new companies, and policy surety in regards to the R&D tax incentive. Nick Northcott, the Executive Director of legal tech startup Immediation, has said that in order for startup businesses to gain traction […]
As the Federal Government hands down the “most important budget since World War II” this evening, Australians can expect to see further tax cuts and a $200 billion deficit for the 2020/21 financial year. Whilst having been warned of a debt and deficit disaster, the government has acknowledged that to grow the economy they should […]
The world has watched US politics this year with a mixture of dismay, amusement and confusion. One of the most controversial political skirmishes this year is being fought over the US Supreme Court, after the death of Justice Ruth Bader Ginsburg on the 18 September left a vacancy that Republicans and Democrats have been vying […]
Today the Prime Minister Scott Morrison delivered his pre-budget speech on “arguably one of the most important” budgets since the end of the second world war. The 2020-21 budget, which will be announced next Tuesday, comes at the heels of Australia’s worst economic contraction after being hit by the global pandemic, bushfires and drought. “This […]
Guest authored by Brooke Jamieson, Head of Experiences at smart spaces platform PlaceOS. The pandemic has accelerated two ongoing trends: a decline in the traditional use of real estate, particularly retail, and an increasingly flexible approach to work. For example, a recent Retail Market Overview by JLL reported that vacancy across the Australian core retail […]
A Brisbane law firm dedicated to startups is looking for the next potential unicorn with the announcement of a new $50,000 Grant this week. Bolter has launched its Little Giant Startup Grant to recognise and promote the incredible entrepreneurial spirit of Australians and give one lucky business a super-boost. The competitive Grant, which includes $25,000 […]
The fourth annual NSW Small Business Month has now launched, providing hundreds of free and low-cost activities across NSW and a chance for businesses to reboot and recover. Premier Gladys Berejiklian noted that this is an opportunity to support small businesses and focus on the future of commerce in NSW. “Business communities have faced unprecedented […]
