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Business Update – 27 September 2023

Strategic Wealth Management | 26 Sep 2023

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.

ATO cracking down on tradies dodging the fringe benefits tax

The Australian Tax Office is cracking down on tradies who are wrongly not paying fringe tax benefits for their vehicles.

Treasurer Jim Chalmers gets to work on fresh jobs plan

The government is set to get to work on its jobs plan with the release of its employment white paper in Adelaide on Monday in a bid to build a “dynamic and inclusive” labour market.
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Capital gains don’t need to cause strains

The Australian Taxation Office (ATO) is reminding taxpayers to consider capital gains tax (CGT) when you own investments like a rental property, shares and crypto assets.

‘Nothing like that in Australia’: Amid Qantas’ IT woes, it’s time for proper customer refund protections

Time for an overhaul. In Australia, passengers have no specific protections, service guarantees or automatic rights for cancellations, delays, changes or baggage delays.

Chicken shortages threaten McDonald’s, Woolworths in Australia

Australia’s chicken supply chain is facing a potential crisis as workers at one of the country’s major poultry suppliers, Inghams, have voted to go on strike due to a pay dispute.

The AI in Government Taskforce: examining use and governance of AI by the APS

Minister for Industry and Science, the Hon Ed Husic and Minister for Finance, Senator Katy Gallagher announced the Artificial Intelligence (AI) in Government Taskforce. Jointly led by the Digital Transformation Agency (DTA) and the Department of Industry, Science and Resources (DISR), the Taskforce has representatives from agencies across the APS and is focused on the safe and responsible use of AI by the Australian Public Service (APS).

A comfortable retirement? There’s a more important question to ask first

Instead of asking ‘How much money do I need to live a comfortable retirement?’ how about you first ask, ‘What do I want to do and spend in retirement?’ To help you, let’s look at what ASFA includes in its retirement standard. It breaks down the weekly cost of what it describes as a ‘modest’ and ‘comfortable’ income in retirement may look like, both for couples and singles.

Christmas warning for motorists as petrol prices smash past $2.10 a litre

Australian motorists may need to get used to paying more than $2 a litre for petrol, as hopes that 2023 would bring relief at the bowser are dashed in the latest squeeze to hit the major capitals.

One Million Dymocks Customers Exposed Online in Data Breach

Australian bookstore chain Dymocks has blamed a third-party provider for a data breach that exposed 1.24 million customers’ confidential details on the dark web.

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Postal address: PO Box 497 Hurstville BC, NSW 1481