Business Update Week 9 2023

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

What to do if you can no longer afford your mortgage

As rates continue to rise, many Australians find themselves unable to make payments on their home. Learn what to do if your mortgage payment obligations are becoming impossible to meet.

Woolworths expands controversial surveillance tool

Woolworths is expanding the rollout of a controversial AI technology that helps reduce misscans at self-serve checkouts at more stores in NSW, Victoria and Queensland.

Changes coming to superannuation rules

Treasurer Jim Chalmers is proposing an “end to the super wars” with a new law that would see an end to early access to funds.

Chinese airlines flying through Russia have an unfair advantage

Since the Russian invasion of Ukraine nearly a year ago, European, Canadian, and U.S. airlines have avoided Russian airspace, making long-haul routes take longer and cost more. As China reopens and flies directly through Russia, other international airlines say they have a leg up.

No more SMS two-factor authentication on Twitter unless you pay

Twitter warned non-Twitter Blue users using SMS 2FA authentication that they have 30 days to switch to another 2FA method. Find out how to keep your account secure here.

Everyone’s scrambling to get on board with AI

With the release of ChatGPT in November, it seems that everyone’s talking about the potential of AI. Everyone from students to CEOs is trying to keep up as we figure out how this new technology fits into our lives.

Meta follows in the footsteps of Twitter

Mark Zuckerburg announced that Meta is launching a pay-for-verification subscription service called Meta Verified for Facebook and Instagram, much like Twitter Blue. The launch begins in Australia and New Zealand this week, with more countries to follow.

Bitcoin is booming, but why?

Everyone’s watching as Bitcoin continues to make steady gains in 2023. But will it climb back to $20K? Forbes has some ideas about why the price of crypto is suddenly climbing again.

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
February 2022-23 Activity Statement: 21 March 2023
March 2022-23 Activity Statement: 21 April 2023
April 2022-23 Activity Statement: 21 May 2023

BAS Quarterly Lodgements
1st Quarter 2022-23 (incl. PAYGI): 28 October 2022
2nd Quarter 2022-23 (incl. PAYGI): 28 February 2023
3rd Quarter 2022-23 (incl. PAYGI): 28 April 2023
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:
3rd Quarter 2022-23: 28 April 2023
(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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