Business Update – 13 July 2022
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.
Many air travellers stranded as airports see busiest days since the beginning of the pandemic
A significant portion of the airline workforce is recovering from COVID-19 or the flu, making flight delays and cancellations increasingly common.
Landlords warned to keep a “squeaky clean” record as tax season approaches
According to experts, the tax office is keeping an even closer eye on potentially dubious real estate claims in 2022. Some 2.2 million Australians have rental property deductions, and claim $50 billion in tax deductions annually.
Twitter shares tumble amid broken deal
Twitter shares slid on Monday, after Elon Musk said that he was abandoning his $65.21 billion bid for the company. Twitter responded that they will challenge Musk in court over the broken deal.
Interest rate hikes threaten construction sector
Master Builders Australia is urging the Reserve Bank to ease off rate hikes. Many companies in the construction sector are facing financial ruin under the strain.
Rental and social housing crisis reaches the bush
Tamworth, which has not traditionally had a problem with access to affordable homes, is suddenly feeling the effects of the rental crisis and now needs more social housing.
ACMA code targets scam SMS messages
A new code registered by the Australian Communications and Media Authority requires mobile phone companies to trace, identify, and block SMS scam messages. They could face fines of up to $250,000 if they fail to comply.
Australia lagging in EV adoption, but could catch up with tax incentives
The research centre RACE for 2030 has released a report recommending tax reforms similar to those in Europe to encourage fleet managers to buy EVs, rather than traditional internal combustion engine vehicles.
Doctors urge 4th shot as COVID-19 cases rise again
As a new Omicron wave makes its way across the country, doctors urge everyone eligible to get a 4th shot as soon as they can to stave off serious illness.
Majority of Australians wonder why PM isn’t recommending masking again
Anthony Albanese’s approval rate is wavering, signalling that the honeymoon period is over. Most respondents in the most recent poll stated that they feel Australia should return to mask-wearing to curb the winter spread of COVID-19.
As food prices increase, every aisle in the supermarket is affected
Researchers are calling on the federal government to help subsidise growers, claiming it’s costing some lower socioeconomic families 40% of their income to buy a week’s worth of healthy food.
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