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  1. Key small business indicators slip into critical zone

    data suggests that the wage increases being paid by small businesses are not as large as they were as recently as September last year,” Ms Southall said. “While this may provide some short-term relief for small business owners who struggled with...

  2. Annual wage growth highest in a decade over December quarter

    cent compared to 1.1 per cent), said Ms Marquardt. “It was, however, higher than any December quarter increase across the last decade, this follows on from the September and June 2022 quarters which were also higher than their comparable quarters back...

  3. Rate rises to slam the brakes on housing starts: HIA

    according to the Housing Industry Association. The HIA’s latest Outlook Report says interest rate rises put an end to last year’s boom and detached housing commencements will fall precipitously to below 100,000 next year, from 149,000 in 2022. “The...

  4. Cloudstaff acquires optiBPO to drive global growth strategy

    of $123 million in 2021–22. “Cloudstaff was already growing at more than 50 per cent a year as the pandemic hit and the last three years have added fuel,” said Mr Ernst. “We’ve doubled our team size since 2020 and are planning to increase it by a...

  5. Disqualified agents to be ‘weeded out’ if law passes

    entity” would be an individual or corporation that was neither a registered tax agent or BAS agent that within the last five years had been convicted of a serious taxation offence, a serious offence, an offence involving fraud or dishonesty, or been...

  6. HR predictions in Futrli help staffing challenges

    more than 400 business leaders found 77 per cent nominated talent as their biggest challenge in 2023 compared to 69 per cent last year. Futrli head of advice Dan Daly said prediction technology developed by the group would help accountants advise...

  7. Former GetSwift directors hit with millions in fines

    relocated to North America and was listed on the Canadian Neo exchange before being suspended and placed in liquidation last July. GetSwift, Mr Hunter, Mr Macdonald and Mr Eagle have also been ordered to pay ASIC’s costs. ASIC deputy chair Sarah Court...

  8. Most taxpayers ‘will be in the dark’ about WFH changes

    have an accountant, they could be in for a big surprise if they prepare their return via myTax in the same way they did last year – and they could be opening themselves up to an audit as a result.” CPA Australia senior manager tax policy Elinor...

  9. ATO sticks to its guns in revised WFH deductions regime

    after feedback from the industry. The compliance change, which was scheduled for 1 January in draft PCG 2022/D4 published last November, was a partial win for critics who said most taxpayers and accountants would be unaware of the revised requirements...

  10. Construction companies account for 30% of insolvencies

    this year to fold, filing for bankruptcy and owing about $7 million to creditors, following crises at ProBuild and Metricon last year. BDO said the construction industry employed more people than any other in Australia and generated more than $360...

  11. ASIC to target environmental frauds in wider agenda

    After achieving $76.3 million in civil penalties in the second half of last year, the commission has expanded its focus areas for 2023. The Australian Securities and Investments Commission (ASIC) has warned businesses that misleading sustainability...

  12. Trade receivables plunge to record low: CreditorWatch

    data in 2015. The agency said trade receivables, which measured the average value of invoices, had been sliding since July last year and the 39 per cent drop in January compounded the usual seasonal fall. In a raft of bad data, the January Business Risk...

  13. Stress, pay and robo-accountants top deterrents to profession: ACCA

    among many Australian accountants. “They almost refocused on compliance work because there was so much requirement over the last two years,” she said. “They’re like, there’s enough work for me already here and I’m comfortable and I just don’t want to...

  14. $1,000-a-month average mortgage increase ‘too much for many’

    or have applied for hardship. Finder home loans expert Richard Whitten said the succession of interest rate increases since last May were starting to bite. “Nine consecutive rate hikes from the RBA means an Australian with the average loan size of...

  15. Consumer confidence plunges to recession levels

    Westpac-Melbourne Institute February survey shows. Consumer sentiment has fallen sharply to recession levels in the wake of last week’s rate rise with mortgage holders especially bleak about finances this year, according to the latest Westpac-Melbourne...

  16. Final QAR report ‘fails to address’ limited AFSL issue

    failed to adequately consider problems with the limited financial advice model, among other issues. The QAR report released last week said there was “little merit” in holding a limited Australian Finance Services Licence but opted against recommending...

  17. SuperConcepts reveals key initiatives for 2023

    supported by SuperMate,” the SMSF service provider said. The web-based version of SuperMate officially launched in February last year and currently supports over 40,000 funds. Mr Forbes said the company was thrilled to be celebrating the one year...

  18. ATO turns up the heat on holiday home deductions

    accountants understand whether the claims were a valid rental deduction. Speaking at the Accountants Daily Strategy Day late last year ATO assistant commissioner Kath Anderson flagged the crackdown and said with over 2.2 million property owners filing...

  19. Franchisor faces court for alleged Fair Work breaches by outlets

    and breach record-keeping and pay slip requirements.” The action follows 85 Degrees being penalised $475,200 in court last year for exploiting young Taiwanese students in Sydney under the guise of a purported internship arrangement in 2016 and 2017. The...

  20. Be brave about advice reform, Canberra told

    The 267-page report includes 13 recommendations, many of which were previewed in early form by the QAR Proposals paper last August. They include redefining “personal advice” to take in financial advice that must be supplied by a “relevant provider”;...