Business Update – 21 June 2023
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.
Almost 950,000 Aussies working two jobs to combat cost of living crisis
According to the Australian Bureau of Statistics, almost 950,000 Australians are working multiple jobs. Australians are jumping onto that side hussle to help combat the rising cost of living.
Taxpayer dollars fuel $1.4 billion in annual revenue for Big Four
The Big Four consulting firms have increased their federal business by 400 per cent over a decade while donating steadily to the major political parties that shape big decisions on government projects.
Many small businesses ‘shutting down’ amid rising costs
Many small businesses are struggling. Small Business Women Australia Founder Amanda Rose highlights how many businesses around Australia are struggling to make ends meet amid rising electricity and supply costs.
ATO expands data matching to ensure fair play
The ATO has expanded its data matching program to catch taxpayers who leave out income or inflate deductions. New data is being collected from property managers, landlord insurance providers, financial institutions for residential investment properties and sharing economy providers.
Expansion of flood support scheme in Queensland
The Australian government has announced that more flood-affected homes will receive financial support to help with the recovery process. An additional 300 residences have been added to a flood support scheme.
ACT government considering how to attract and retain desperately needed healthcare workers
The Australian Healthcare and Hospitals Association predicts a national shortage of more than 100,000 nurses and more than 2,700 doctors by 2025. So what approach is the ACT government considering to attract and retain healthcare workers?
Why is Melbourne’s housing still so much cheaper than Sydney’s?
Melbourne’s housing market is still significantly cheaper than Sydney’s, despite the two cities having similar incomes and population sizes. This article examines the gap and discusses the prognosis for the future.
New Zealand is officially in a recession – see how Australia compares
New Zealand has officially entered a recession after the release of GDP data showing the economy has contracted over two consecutive quarters.. These charts show how Australia compares.
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