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  1. Inflation slows to lowest level in more than a year

    services. ABS head of prices statistics Michelle Marquardt said the 5.6 per cent annual rise was the smallest since April last year. “While prices have kept rising for most goods and services, many increases were smaller than we have seen in recent...

  2. Are we witnessing a skills recession?

    of Australian companies are experiencing skills shortages. Another 40 per cent said these issues have intensified in the last year, and 78 per cent believe this will negatively impact growth plans. Matthew Dickason, Hays Asia-Pacific chief executive,...

  3. COSBOA pushes for global ESG standards to combat greenwashing

    global baseline for sustainability disclosures. The ISSB previously published two draft standards for consultation in March last year. In July 2022, ASIC, alongside members of Australia’s Council of Financial Regulators (CFR), made a submission to the...

  4. Small businesses need cash flow help: Xero

    small business owners with 57 per cent report feeling stress, 50 per cent anxiety and 48 per cent trouble sleeping over the last 12 months. The firm said the results reflected the findings of previous research conducted between November 2022 to February...

  5. Fraud attacks on firms more than double as EOFY approaches

    year-on-year. Fraud or account errors detected by Eftsure from January to May were up by 50 per cent from the same period last year. Mr Chazan said firms need to be awake to the types of attacks and scams that fraudulent actors would use to try...

  6. Technical expert flags EOFY planning tips for super

    to have some level of debt [compared with the over 65s].” Pension planning Following the work test changes that came in July last year, Mr Miller said the previous concept of the superannuation life cycle where a member sets up a fund, contributes to it...

  7. Small businesses must focus on productivity as recession looms: MYOB

    to help them to improve and upskill themselves and their teams would assist with productivity,” Ms Fawcett said. “The last few years have shown Australia’s small and medium businesses can carry on in unprecedented times and this data shows they are...

  8. Minimum wage decision ‘could fuel recession risk’

    for longer and that inflation expectations will shift higher making it even harder to get back down.” Dr Philip Lowe said last week that rising unit labour costs were a significant risk to the inflation outlook for Australia and would influence its...

  9. Cheques out: Cheques to bounce by 2030

    the COVID-19 pandemic. Indeed, it has been found that there has been an almost 90 per cent decline in cheque volumes in the last 10 years, with cheques now comprising only 0.2 per cent of non-cash retail payments in Australia. Given the decline in...

  10. Rising recession fears dampen SME revenue predictions

    interest rates and costs, according to the SME Sentiment Tracker report by ACA Research. This was an increase from May last year when only 48 per cent of businesses generated a profit. Despite the strong financial data for last month, 39 per cent of...

  11. How to prepare your clients for the end of the financial year

    of the financial year fast approaches, time is running out to get your clients’ tax affairs in order. As we come out of the last corner into the final straight, crossing the finish line on 30 June is immovable. You can’t ask anyone for more time to get...

  12. RBA surprises businesses with cash rate rise, ‘risks recession’

    mean further increases are on the horizon according to the board. The RBA has raised interest rates for the 11th time in the last 12 months up to 4.10 per cent, stating inflation is still too high, particularly on the service side. In his monetary...

  13. RBA reveals greatly anticipated June rate decision 

    will give the RBA some early indications that we should be able to avoid significant wages pressures going forward, despite last week’s increase to the minimum wage by 5.75 per cent by the Fair Work Commission,” she said. “The RBA is also concerned...

  14. Government to act on migrant worker ‘crisis of exploitation’

    months of consultation the government has landed on appropriate measures with further changes in the pipeline. “Over the last ten years our migration system has drifted deeper and deeper into reliance on low-paid temporary migrant workers who we know...

  15. Businesses are relying on poor managers due to the pandemic

    don’t want to come back to the office, because Australian workplaces are full of bad managers,” said Ms Foxwell. “For the last 12 to 18 months especially, businesses have been severely impacted by the labour shortage affecting economies all over the...

  16. Rising living costs impacting businesses and employees at EOFY

    Officeworks revealed that 90 per cent of Australians had planned to complete their tax return – a jump from 83 per cent last year and 75 per cent in 2021. However, the company’s research also revealed 29 per cent said they would look to save money by...

  17. EY promotes record number of women to partner

    The firm said the partner intake takes it to 756 partners across Australia, an increase of seven per cent compared to last year, with all being equity partners.

  18. Accountancy firms to increase salaries across FY2023–24: Hays

    Mr Cawley. “This year, both the number and value of increases will rise, continuing the upwards trajectory we first noted in last year’s Hays Salary Guide.” “Despite the increased salary boost, employers and their accountancy employees’ expectations...

  19. TPB has no plan to suspend PwC despite leaks

    of documents related to the much-maligned firm’s tax leaks. After being appointed as chairman of the Tax Practitioners Board last Friday (26 May), Peter de Cure fronted the Senate Economics Legislation Committee and said the regulator had imposed...

  20. President to guide the AAT through its reform named

    accessible and independent manner.” His appointment comes after Attorney-General Mark Dreyfus announced at the end of last year the government will abolish the AAT and replace it with a body that would better serve the interest of the Australian...

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