Australian SME Business News and Accounting Articles: Australian businesses

Showing posts with label Australian businesses. Show all posts

Australian Government Surplus-Saving: 10 Key Points

Posted by Shoebooks Team in Thursday, December 1, 2011

With the Mid Year Economic and Fiscal Outlook statement revealing a drop in the revenue for the next four financial years amounting to a whopping $20 billion, Wayne Swan, Federal Treasurer, has been prompted to put a halt to spending in order to save the 2012-2013 budget surplus promised to the Labor.

"We are experiencing the worst bout of global instability since the global financial crisis,” said Mr. Swan.

Though the economy of Australia is seen by the Treasury to grow by 3.25 percent in the financial year 2011-12, Mr. Swan is still trying to illustrate the global economy and its impacts on Australian economy using the MYEFO report.

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Australian SME Businesses Not Happy with Federal Government

Posted by Shoebooks Team in Tuesday, November 29, 2011

An MYOB report reveals that about half of Australian SMEs are now dissatisfied with the federal government. The rage of these small and medium businesses has reached a three-year high. From just 31 percent during the last three months, the number of dissatisfied SME’s has soared to 56 percent recently.

Only 14 percent of the 1000 surveyed business owners in October say they are happy. This shows a decrease from the 27 percent last August.

According to Tom Reed, MYOB Chief Executive, business owners are a pragmatic group and they may be appeased if the government takes some straightforward measures.

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SME Business Sales Raise in September, Eurozone Up Bailout Fund

Posted by Shoebooks Team in Wednesday, October 26, 2011

According to the recent ANZ small business sales trends report, small business sales lifted for the fifth consecutive month in September. The report shows small business turnover increased by 5.2% year on year.

Based on ANZ data on the value of credit, debit and Eftpos transactions through its merchant terminals and ANZ card transactions processed through other systems for businesses, at least two-years-old with annual turnover less than $5 million.

ANZ Head of Australian Economics and Property Research, Ivan Colhoun, said year-to-date growth is "fairly flat" at 1.7%. "And with headline inflation running at around 3.5% y/y in 2011, this implies real (inflation-adjusted) small business sales growth is still relatively weak in September," says Colhoun.

Continue reading about "SME Business Sales Raise in September, Eurozone Up Bailout Fund" here »

Auditor-General Could Spell Trouble for SME Businesses

Posted by Shoebooks Team in Monday, October 17, 2011

According to the opposition, it could mean disaster for businesses as there is a move to sharpen the teeth of the auditor-general.

The private member’s bill of independent MP Rob Oakeshott that targets to give the auditor-general greater powers to follow money trails and to ensure the government gets its money is being debated by the Senate.

The audits will be extended to government business enterprises such as NBN Co. should the bill be passed.

Furthermore, the bill will also allow the investigation on how federal money has been used by states and territories and assess the performance of contractors such as home insulators.

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Fair Tax Scheme: Lift the GST

Posted by Shoebooks Team in Wednesday, October 12, 2011

Despite the Australian government's edict of the Goods and Services Tax (GST) issues as taboo subjects in the recently held tax summit, business groups are still set to ignore the edict by advocating for the lifting of the GST and changing the mining tax.

Moreover, accountants, Australian accounting software providers and the common Australian citizens stated that the lifting of the GST rate could help make the Australian tax system fairer.

The Goods and Services Tax (GST) is a broad sales value added tax of 10% on most goods and services transactions in Australia.

Continue reading about "Fair Tax Scheme: Lift the GST" here »

PM Julia Gillard Flags a Business Tax Shake-Up

Posted by Shoebooks Team in Wednesday, September 21, 2011

After receiving criticisms against her government, Prime Minister Julia Gillard vows to bring new flexibility into the tax system.

Just last night, Julia Gillard made more changes to business tax rules in response to calls for the reduction in company tax from 30 per cent to 25 per cent.

Although Gillard did not give specific details as to the changes, she wants delegates during next month’s two-day forum in Canberra to discuss options for a tax system that would better support businesses.

According to Gillard during the Australia Industry Group dinner in Canberra, the aims of the changes include "removing distortions, lifting barriers, delivering flexibility ... (and) encouraging enterprise."

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Make Your Business Recession-Proof

Posted by Shoebooks Team in Wednesday, August 10, 2011

The business trend will never be the same all throughout. There will be times when businesses will do well. However, there will also be times when businesses will have tough moments. Among these tough ones is the time of recession.

At present, it is the Western world that is experiencing this pinch. However, individuals have to be cautious this early as this recession will eventually flow out into the Australian economy and to individual businesses.

What is important during this time is that business owners have to make sure that not all revenue comes from one source. That is, if 80 per cent of a business’ revenue is just from one client, the risk when this client goes away is very high for the business. It may also not be very wise to diversify just yet.

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Carbon Tax - Design Elements and Business Preparations

Posted by Shoebooks Team in Monday, August 8, 2011

The Carbon Tax has just been recently introduced by the Australian government. This means that in order to transform Australia into a “clean energy” economy, there will now be the pricing of carbon dioxide and other “greenhouse gas emissions”.

Though it is yet to be introduced and approved by both Houses of the Parliament, it is expected to be implemented by July 1, 2012.

Continue reading about "Carbon Tax - Design Elements and Business Preparations" here »

More Australian Businesses Now Having Online Presence

Posted by Shoebooks Team in Wednesday, August 3, 2011

There is an increase in the number of Australian businesses that are now online. MYOB conducted a research which has revealed that businesses now online have risen from 35 per cent to 39 per cent last November. Another 22 per cent are planning to create their website in the next 12 months.

Compared to the 22 per cent that do not have a website, almost a third of 1000 respondents say that there is increased revenue with being online.

Continue reading about "More Australian Businesses Now Having Online Presence" here »

Australian SME Business News and Accounting Articles

Australian Government Surplus-Saving: 10 Key Points

Australian SME Businesses Not Happy with Federal Government

SME Business Sales Raise in September, Eurozone Up Bailout Fund

Auditor-General Could Spell Trouble for SME Businesses

Fair Tax Scheme: Lift the GST

PM Julia Gillard Flags a Business Tax Shake-Up

Make Your Business Recession-Proof

Carbon Tax - Design Elements and Business Preparations

More Australian Businesses Now Having Online Presence

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