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Welcome back to our Weekly Business Update – stay in the know with recent news updates from the week.

Almost 950,000 Aussies working two jobs to combat cost of living crisis

According to the Australian Bureau of Statistics, almost 950,000 Australians are working multiple jobs.  Australians are jumping onto that side hussle to help combat the rising cost of living.

Taxpayer dollars fuel $1.4 billion in annual revenue for Big Four

The Big Four consulting firms have increased their federal business by 400 per cent over a decade while donating steadily to the major political parties that shape big decisions on government projects.

Many small businesses ‘shutting down’ amid rising costs

Many small businesses are struggling. Small Business Women Australia Founder Amanda Rose highlights how many businesses around Australia are struggling to make ends meet amid rising electricity and supply costs.

ATO expands data matching to ensure fair play

The ATO has expanded its data matching program to catch taxpayers who leave out income or inflate deductions. New data is being collected from property managers, landlord insurance providers, financial institutions for residential investment properties and sharing economy providers.

Expansion of flood support scheme in Queensland

The Australian government has announced that more flood-affected homes will receive financial support to help with the recovery process. An additional 300 residences have been added to a flood support scheme.

ACT government considering how to attract and retain desperately needed healthcare workers

The Australian Healthcare and Hospitals Association predicts a national shortage of more than 100,000 nurses and more than 2,700 doctors by 2025. So what approach is the ACT government considering to attract and retain healthcare workers?

Why is Melbourne’s housing still so much cheaper than Sydney’s?

Melbourne’s housing market is still significantly cheaper than Sydney’s, despite the two cities having similar incomes and population sizes. This article examines the gap and discusses the prognosis for the future.

New Zealand is officially in a recession – see how Australia compares

New Zealand has officially entered a recession after the release of GDP data showing the economy has contracted over two consecutive quarters.. These charts show how Australia compares.

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Disclaimer

The information in this newsletter / factsheet is factual but general in nature. It should not and is not to be construed as advice at any level whatsoever. Because it contains general information that has not been tailored to your personal circumstances it may not be suitable information for you. You must always seek personal financial or taxation advice prior to acting on this information. Further, as many of the comments in this newsletter / factsheet are general in nature, anyone intending to apply the information to practical circumstances should seek professional advice to independently verify their interpretation and the information’s applicability to their particular circumstances.