Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Families faced with impossible decisions thanks to cost-of-living crisis 72% of Australians believe child poverty has worsened thanks to cost-of-living increases, a recent study found. That’s up from 56% in December 2020. Additionally, 81% of respondents believe child poverty will continue to worsen over the next year. Currently, around… Read more
Welcome back to our OAW Weekly Business Update. Read on for the latest news from the week. Why the RBA should not use interest rates to target the housing market or debt A panel reviewing the Reserve Bank of Australia RBA has recommended against using interest rates to target the housing market or address concerns about high levels of debt held by Australians. Collaboration to bring more EV charging stations… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Reserve Bank of Australia considers a rate hike The Reserve Bank revealed that it was a “close call” not to raise interest rates at its last meeting due to concerns over inflation and the housing market, but ultimately decided to maintain the current rate of 0.25%. ATO using data-matching… Read more
Welcome back to our Weekly Newsletter. Read on for the latest updates from the week. Federal Court decision shakes up public holiday rostering rules for employers A recent ruling by the Federal Court requires employers to request their employees’ availability to work on public holidays in advance instead of just rostering them to work. Employers must introduce a mechanism for making such requests before issuing any direction to work on… Read more
Welcome back to our Weekly Business Update. Read on for the latest news and updates from the week. Australian house prices surge, but experts are divided over whether this is a real recovery The Australian housing market has surged in recent months, but experts are divided on whether it’s a “dead cat bounce” or the start of a real recovery. Lenders offer incentives to attract home loan customers amid surging… Read more
Welcome back to our Weekly Business Update. Read on for the latest updates and news from the week. Changes to home-based business expenses Businesses operating from home can claim business-use expenses, including occupancy expenses and running expenses. They can now use the revised fixed rate method of 67 cents per hour for the 2022-23 income year. Find out more here. Get ready for STP Phase 2 Single Touch Payroll has… Read more
Welcome back to our Weekly Business Update. Read on for the latest updates from the week. Why Australian banks will come out the other side of the global crisis According to Reserve Bank of Australia assistant governor Chris Kent, Australia’s banks are “unquestionably strong” and are equipped to handle a prolonged period of market strain. The banks are already well advanced on their bond issuance plans for the year and… Read more
Welcome back to our Weekly Business Update. Read on for the latest updates and news from the week. Australian markets take a hit after multiple US banks collapse Australian markets experienced a sharp decline on Tuesday after multiple banks collapsed in the United States. The ASX200 opened down 1.6% and fell a further 2%, wiping out all gains made this calendar year, with financials bearing the brunt. Bank collapses lead… Read more
Welcome back to our OAW Weekly Newsletter. Read on for the latest news and updates from across the week. Inflation is still a concern as the economy slowly recovers Australia’s economy has recovered better than most from the COVID pandemic and is now 7% larger than before. But experts say that ongoing inflation is a continuing concern for everyday affordability. Centrelink payments set to rise to help with the cost… Read more
Welcome back to our Weekly Business Update. Read on for the latest news and events from the week. Woolies half-year earnings reveal shoppers changing habits The supermarket chain says consumers are swapping red meat for more “affordable luxuries” such as exclusive cheese brands and ice creams. It’s believed to be part of a trend where people eat more at home instead of going out to deal with the increasing cost… Read more
Welcome back to our Weekly Newsletter. Read on for the latest updates, news and tips from the week. What to do if you can no longer afford your mortgage As rates continue to rise, many Australians find themselves unable to make payments on their home. Learn what to do if your mortgage payment obligations are becoming impossible to meet. Woolworths expands controversial surveillance tool Woolworths is expanding the rollout of… Read more
Welcome back to our Weekly Newsletter. Read on for the latest news & updates. RBA governor’s statement met with confusion Philip Lowe will appear before the senate this week to answer for the RBA’s rate hike strategy. Last week, he said that further interest rate hikes would be necessary to tame inflation, leaving observers confused as it seems to have already peaked. Faster internet is on the way Millions of… Read more
Welcome back to our Weekly Business Update! Read on for the latest news and headlines from across the week. Australian trade minister to meet Chinese counterpart next week as relationship thaws Australia and China’s top trade officials will have an online meeting to discuss their relationship. This will be the first meeting between Australia’s trade minister and the Chinese counterpart in over three years. The hope is that China will… Read more
Welcome back to our Weekly Business Update. Read on for the latest news from the week. Interest rates are expected to keep rising despite softening inflation Economists generally believe that the worst of inflation is behind us, but they also say that the Reserve Bank will continue to raise interest rates until prices come down. Changes to FBT and providing employees with electric cars Employers are no longer required to… Read more
Welcome back to our OAW Weekly Business Update! Read on for the latest news and updates from the week. Some good news for energy prices After recent record-busting increases in electricity costs, some good news is on the horizon – energy prices will lower over 2023 and 2024 once an expected drop in wholesale prices reaches consumers. Rent is coming down in one region According to SQM Research, rents in… Read more
Welcome back to our Weekly Business Newsletter. Read on for all the latest across the past and coming week. Check out our article in the Dec/Jan 2023 issue of The Tradie magazine! Brett Edmonds and the Team here at Oracle Accounting & Wealth are ready to supply all bookkeeping, taxation and business-logistics needs to the ever growing building & construction industry. Click here to read the full article. For all… Read more
Hope you all had a safe, relaxing Christmas and New Year break! Welcome back to our Weekly Newsletter. Read on for the latest updates and news from the week. AussieSuper upgrade is still causing trouble AustralianSuper had been struggling with technology issues for two months, with the new member portal and mobile app going live in mid-November. China’s Covid woes could negatively affect Australia’s economy A senior economist warns that… Read more
Welcome back to our Weekly Business Update. Read on for the latest updates from the week. We also wish everyone a very merry, safe and relaxing Christmas and New Year break and we’ll be back next year with all the latest! Kevin Rudd is the next ambassador to the US Kevin Rudd will serve as Australia’s next ambassador to the United States. Anthony Albanese said Rudd’s appointment would strengthen Australia’s… Read more
Welcome back to our Weekly Newsletter. Read on for the latest updates and news from the week. NSW builder goes into voluntary administration due to rising costs and pandemic effects Elderton Homes, a major New South Wales builder, has plunged into administration after catastrophic weather events, the pandemic, and rising materials costs made business too costly to continue. ABS data shows that payroll jobs are up, and the labour market… Read more
Welcome back to our OAW Weekly Business Update. Read on for the latest updates from the week. Austudy, carer payments, and youth allowance to get a boost Social security payments for young people, students, and carers will increase by 6.1% on 1 January – the biggest raise in over six decades. Women are 200 years behind men for income equity A new report revealed that Australian women have poorer health,… Read more