Industry News

ACT Government Roll Out Green Waste Bin Service in Southside Suburbs

greenThe ACT Government has finally decided to roll out green waste bin services in southside suburbs but certain households will get it earlier than others.

In the past the ACT Labor government rejected the idea, saying it would cost too much to maintain but the Canberra Liberals announced before the last election that if they were elected they would implement the service. Labor announced the service would just be too costly.

Labor recently changed its mind and decided to provide the garden waste bin after requests from the people.

But not everyone will get the service automatically, only households that opt for the service and pay the once-off $50 deposit for the bin or concession card holders.

Source: http://www.canberratimes.com.au/act-news/act-government-to-roll-out-green-waste-bin-service-in-southside-suburbs-in-early-2017-20160527-gp5dta.html

Tasmanian Government to Spend $21m on Two Key Tourism Projects

Tourism Minister Will Hodgman

Tourism Minister Will Hodgman

The Tasmanian Government has announced plans to spend $21m on two key tourism projects.

Premier and Tourism Minister Will Hodgman recently announced $15 million for The Cradle Mountain Master Plan and more than $6million towards the upgrading of the Great Eastern Drive along the state’s east coast.

Although Tasmania already has a booming visitor economy, the minister said the budget would add to the already strong tourism sector.

The news of the budget was welcomed by the Tourism Industry Council Tasmania and its chairman Daniel Leesong who said it would enable Cradle Mountain to become a world-class destination.

These projects would draw visitors into regional Tasmania.

Read more at http://www.abc.net.au/news/2016-05-26/government-to-spend-21m-on-key-tourism-projects/7448244

Protestors March Against Baird Government, Westconnex in Sydney

marchersThousands of people including Greens MPs gathered in central Sydney recently to protest against the Premier’s plans including the Westconnex freeway project.

Protestors were making known their opposition of Premier Mike Baird’s Liberal Government’s decisions on the Westconnex freeway project, council amalgamations, education funding, refugee policy and cycling legislation among other issues.

Protestors also marched under the slogan “Keep Sydney Open” to make known their views on the controversial lockout laws in  Sydney.

They also took aim at the extension to the city’s light rail project, which will result in a number of fig trees and indigenous artefacts being destroyed.

Another area of contention is the government’s mining and coal seam gas projects.

Find out more http://www.abc.net.au/news/2016-05-29/thousands-protests-against-baird-government-westconnex-/7457338

The Potential Problem with the Turnbull Government’s Company Tax Cuts

Scott Morrison - Treasurer announced the tax cuts.

Scott Morrison – Treasurer announced the tax cuts.

An article on Smh.com.au recently discussed the potential problem with the Turnbull Government’s Company Tax Cuts which some say will send the budget backwards.

A company tax cut would cost Canberra more than $8billion a year in revenue while recovering only a fraction of that through the extra growth in jobs and wages predicted.

The government announced in its May budget that it would cut the corporate tax rate from 30 cents in the dollar to 25 cents for all companies by 2026-27, and conceded some days later that this move would cost the budget an estimated $48.2 billion over the decade.

Read more at http://www.smh.com.au/federal-politics/federal-election-2016/election-2016-the-potential-problem-with-the-turnbull-governments-company-tax-claims-20160529-gp6ika.html

Housing and Household Debt Soars

debtWith the recent release of the Reserve Bank of Australia’s quarterly report of household finances came the revelation that household and housing debt to disposable income is at a record-high.

The data for December 2015 shows that record low interest rates have led to the ratio of interest payments to disposable income being at its lowest since early 2003.

The value of household assets has also risen to record levels.

The ratios of household and housing debt to disposable incomes increased by 3.4 per cent and 4.3 per cent over the past year.

Source: http://propertyupdate.com.au/household-and-housing-debt-reach-new-record-highs-2/

Commercial Construction Boom Coming?

Construction safety blog WhiteCardOnlineExpress.com.au recently reported that a commercial construction boom could be on its way.

ComSec on construction growth:

The articles states:

Although the homebuilding sector is expected to begin slowing in comparison to last year’s boom, property experts expect commercial construction to take its place….

…Property Council has the commercial construction sector tipped to overtake residential construction in its contribution to economic growth this year.
Source: WhiteCardOnlineExpress 

Read the full article here: https://www.whitecardonlineexpress.com.au/industry-news/commercial-construction-boom-anticipated/

 

 

SuperStream – Is Your Business Ready?

The SuperStream Superannuation payment standard must be implemented by SME’s with 19 or fewer employees by no later than 30 June.  The ATO have provided a useful video, which you can watch below if you need to get up to speed:

 

The official ATO webpage about Superstream is here

Xero Accounting Firm in Brisbane NBC have also provided this useful summary of SuperStream on their blog recently:

How to make your transition to SuperStream a breeze

Source: https://www.nbc.com.au/nbc/superstream/ 

6 Cloud Based Systems to Improve Your Business

We recently came across this worthwhile article posted by Xero accountants in Brisbane NBC.com.au which outlines “6 cloud-based systems for a simpler and smarter business”.  The article covers some well-known ones like Xero but also some lesser known interesting sounding ones like “Tasks-in-a-box”.

A quick, well written read, we recommend you check it out here

Source: https://www.nbc.com.au/nbc/6-cloud-based-systems-for-a-simpler-and-smarter-business/

6 Cloud-based Systems for a Simpler and Smarter Business