Business Update – Week 49 2023
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.
How much Aussies plan to spend on Christmas presents this year
Australian SMEs are embracing strategic spending for growth
The recent Amex Trendex: B2B Edition survey, focusing on business-to-business spending, reveals a strategic growth mindset among Australian businesses.
Sharp drop in Australia’s economic competitiveness
Deteriorating energy infrastructure, lacklustre entrepreneurship and poor competition rules are holding back the Australian economy, with a new report suggesting a drop in competitiveness is putting at risk future prosperity.
All eyes on RBA messaging for hints on rates outlook
Borrowers will be hoping for signs the Reserve Bank can stop lifting interest rates in the minutes from the last meeting and public appearances from the top central bankers.
Higher GST? Negative gearing changes? Why we’ve got to talk about tax
As our population ages, Australia is going to need to spend more on increasingly expensive services such as health and aged care, while facing fewer people of working age to pay income tax – which happens to make up the greatest proportion of federal income. The problem is one that all economists (who can never usually agree on anything) are in furious unison over: Australia needs tax reform.
Job ads dive in Australia’s most populous states, according to nation’s biggest employment website
Job ads slumped 5 per cent in October and are nearly 20 per cent lower over the past year, with hospitality and tourism leading the drop despite the looming peak summer holiday season.
Black Friday and Cyber Monday ‘surge has already started’
Australia Post Executive General Manager Gary Starr says the Black Friday and Cyber Monday “surge has already started”.
Up to one in ten homes in Australia may be empty. Could they ease the housing crisis?
Up to one in 10 homes may be vacant at any one time in Australia, with land banking, short-stay accommodation and legal matters just some of the reasons properties may be kept empty. So what’s being done to help open more housing up to people?
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
October 2023 Activity Statement: 21 November 2023
November 2023 Activity Statement: 21 December 2023
December 2023 Activity Statement: 21 January 2024
BAS Quarterly Lodgements
2nd Quarter 2023-24 (incl. PAYGI): 28 January 2024
3rd Quarter 2023-24 (incl. PAYGI): 28 April 2024
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:
2nd Quarter 2023-24: 28 January 2023
3rd Quarter 2023-24: 28 April 2024
(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.)
Get in touch
Contact us if you have any questions or want to discuss the next steps for your business.