Business Update Week 36 2022

05/09/2022 | My Bookkeeping Buddy

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.

Consensus emerging on how to fill gaps in the workforce

Big business is calling for a two-year boost to the annual migration intake of 220,000 for all jobs earning more than $90,000.

Qantas optimistic despite posting loss

Qantas revealed its full-year results last week – a $1.86 billion loss. Despite the poor showing for FY22, CEO Alan Joyce says the airline is moving back to profitability.

CBA adjusts home value predictions

The Commonwealth Bank of Australia’s latest figures suggest that home prices are about to drop faster than expected. The overall percentage drop in value is still expected to be about 15%, it will just arrive sooner than originally thought.

Prices expected to rise at the supermarkets once again

With a third La Nina on the horizon, experts predict that prices at the supermarket may skyrocket once again. As food availability decreases, prices will inevitably rise unless something is done to address the situation.

Mable adds employee-like benefits to business model

The at-home care provider is the latest in the gig economy to offer benefits like superannuation, sick leave, and minimum wage protections for its independent contractors. The change comes as Tony Burke declared that insecure work has spread like a “cancer” across Australia.

Poor mental health will eventually result in economic loss

A new report from the NSW Council of Social Service has found that lost productivity due to poor mental health will see a nearly $7.5bn loss in the New South Wales economy by 2025. Compounding natural disasters and the pandemic were the leading factors.

Bitcoin sheds 20% of its value in 7 days

After a brief rally recently, many people hoped that the crypto hemorrhage was finally over. However, Bitcoin’s value dropped by 20% in one week, likely due to inflation fears causing a rapid sell-off.

Five signs a building company might collapse

The building industry has had its share of hard times over the course of the pandemic. From cash flow to contracts, here are five signs a building company might collapse.

$1 servo staples are doubling in price

Gone are the days of getting your caffeine fix for $1 by pulling into the 7-Eleven. Many staples, including famously cheap coffees and slurpees, have suffered a huge price bump as the cost of living crisis worsens. You can save 50c by bringing in your own cup.

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
August 2022 Activity Statement: 21 September 2022

BAS Quarterly Lodgements
1st Quarter 2023 (incl. PAYGI): 28 October 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:
1st Quarter 2023: 28 October 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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