Bulk of SMEs preparing for growth over next 12 months: research
Small businesses around the nation are once again confident about their future and ready to start driving toward their next phase of growth, according to new research. The research, carried out by small business lender Prospa, found that 81% of Aussie SMEs expect their businesses to grow over the next 12 months. This is despite 87% of business owners anticipating challenges within the same timeframe. “Small business owners have not had an easy ride navigating through the pand
ATO hit list: rental property income and capital gains
Property investors beware: the Australian Taxation Office (ATO) has revealed the four key areas it will be targeting this tax year, and rental property income/deductions and capital gains are high on the hit list. Tax office Assistant Commissioner Tim Loh says this tax season the ATO will be targeting four key problem areas where it commonly sees people making mistakes, including: – rental property income and deductions;
– capital gains from property, shares and crypto assets
The two major parties’ first home buyer policies explained
Housing affordability is one of the key battlegrounds ahead of the federal election this Saturday. So what is each of the two major parties proposing to help first home buyers crack the market? Let’s take a look. Now, before we get into the nitty-gritty, we’d like to stress that we’ll be doing our darndest to make this article as non-partisan as possible. We understand that everybody has their preferences, priorities and beliefs – and housing affordability might not factor ve
EOFY alert! Financial year-end is fast approaching
Small business owners wanting to buy a vehicle, asset or important piece of equipment and immediately write off the cost have just over a month to act this financial year. There’s nothing like an impending deadline to get you moving. And with June 30 now just over a month away (didn’t that sneak up on us!), time is running out for your business to take advantage of the federal government’s temporary full expensing scheme this financial year. What is temporary full expensing?
Ready for lift-off: how to prepare a buffer for more rate rises
Rate rises are a bit like taking off in a plane. Sure, it’s a bit nervy, but so long as you’ve run through your pre-flight check, have a well-serviced aircraft, built-in some contingencies (a buffer!), and have a handy co-pilot (us!), you should reach your destination no worries. As you’re likely aware, earlier this month the Reserve Bank of Australia (RBA) increased the official cash rate by 25 basis points to 0.35% due to high inflation concerns. While it was the first cash
RBA increases cash rate to 0.35% amid high inflation concerns
The Reserve Bank of Australia (RBA) has increased the official cash rate by 25 basis points to 0.35% amid high inflation concerns and has signalled more cash rate increases will likely follow. This is the first RBA cash rate hike since November 2010, and the first time the cash rate has moved since it was cut to a record-low 0.10% in November 2020. The increase comes a week after Australian Bureau of Statistics (ABS) data showed the cost of living had jumped 5.1% over the pas
