As a business owner, managing rising costs is a pressing challenge, and increasing business insurance premiums may be part of the equation. Understanding the factors driving these increases and seeking advice from your insurance adviser can help you better navigate these costs. Why Are Business Insurance Premiums...
Scammers are constantly refining their tactics to target small businesses, making it essential to stay informed and vigilant. The federal government’s Scamwatch website is an excellent resource for understanding current scams and reporting new ones. Knowing the risks and implementing prevention measures can be critical to safeguarding...
Australia’s economy will take an $8 billion dollar hit in 2025 as a result of Donald Trump’s tariffs, the Reserve Bank estimates in updated economic forecasts. Inflation is also expected to come in lower than it otherwise would have, the RBA’s Statement on Monetary Policy revealed. The...
Treasurer Jim Chalmers wants to ensure Australia’s lowest paid workers don’t go backwards, but stresses a real wage rise must not harm the economy. In its formal submission to the Fair Work Commission’s annual review of minimum and award wages, the federal Labor government said those...
Instant tax deduction On 13 April, the government announced a $1,000 instant tax deduction, so that taxpayers won’t need receipts to claim a deduction of less than $1,000 for work-related expenses in their tax return. This change is subject to passage of legislation and does not apply...
Have you purchased or are you purchasing a business asset this financial year? The instant asset write-off limit is $20,000 for the 2024-25 income year. If your business has an aggregated annual turnover of less than $10 million and uses the simplified depreciation rules, you may be...