big 4 business bites
In our second edition of 'in the loop', you'll find the latest insights on what's got the business world buzzing right now.
From economic contradictions, to the ATO's increased scrutiny and the surge in cyber attacks targeting small businesses, we cover a range of hot topics impacting businesses today.
To make sure you’re kept in the loop, you can read more here or watch our short video:
What are the big 4 business bites?
1. contradictory data
We’re seeing a lot of contradictory data coming out of the government. Unemployment dropped in February, but job ads are starting to dry up. Services inflation is still rising, even though overall inflation seems unchanged. Additionally, unions are fighting for a 5% minimum wage increase, which just adds to the wage pressure concerns.
2. ATO comes out swinging
The ATO has started cracking down on debts. They're handing out a large number of penalty notices to directors and threatening to shut down businesses. Debt just keeps piling up, and they're getting more aggressive about collecting what they're owed. Click here to learn more .
3. cyber attacks
Small businesses are in big trouble when it comes to cyber attacks. Only a few have their defences in order, which means cyber and data security needs to be a much bigger priority.
4. business owners feel stuck
A lot of business owners are feeling lost when it comes to making important decisions or taking action. This is creating a trend of businesses being put up for sale.
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does your business need to lodge a FBT return?
Want to know the deal with Fringe Benefits Tax [FBT]? Check out our blog to get the rundown and make sure your business is on top of its tax requirements for this FBT year. Click here for the full article .
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