Business Update Week 29 2022

18/07/2022 | My Bookkeeping Buddy

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.

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.

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.

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.

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.

Food price increases affect every aisle in the supermarket

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.

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.

ATO Lodgement Dates

These dates are from the ATO website and do not take into account possible extensions. If you are a My Bookkeeping Buddy Client you may be entitled to an extension. You remain responsible for ensuring that the necessary information is with us in time.

Final dates for lodgements and payments:

BAS/IAS Monthly Lodgements
June 2022 Activity Statement: 21 July 2022

BAS Quarterly Lodgements
4th /June Quarter 2022 (incl. PAYGI): 28 July 2022
When a due date falls on a Saturday, Sunday or Public Holiday (a day that is a public holiday for the whole of any state or territory in Australia), you can lodge or pay on the next business day.

Superannuation Guarantee contributions:
4th/ June Quarter 2022: 28 July 2022
(Contributions must be in the fund by this date. Late payments of superannuation are not tax deductible. If your business has overdue superannuation guarantee payments and you are unsure of how to proceed, please contact us to discuss.)

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