The Albanese government

[Macquack]

Small business about to get targeted by ato. I'm sure Labor back to its old tricks. Just after the pandemic and during an inflation burst.
I'm starting to see businesses going under.

To be fair, if you have nothing to hide, you have nothing to worry about.

 

[moXJO]

To be fair, if you have nothing to hide, you have nothing to worry about

Not so much the roots but the late payments. Giving that material is hard to ship in, cash flow is shot for a lot of people and everyone is paying very slowly. Tax department been given the nudge to go in hard and collect debt.

 

[moXJO]

It should never have been allowed to happen in the first place.

It was supposed to be temporary - not used as a permanent get out of jail card.

Trading while insolvent is a one way ticket to a financial crisis.

It's the stock/material in a lot of cases. By the time some stuff comes in right now people have already cancelled the orders. It's not the 'general badly managed ones I was talking about. It's government lockdowns that pretty much stuffed huge swathes of businesses.
It's government created on a number of fronts

Public service are clueless.

 

[Sean K]

LOL

 

[moXJO]

Not so much the roots but the late payments. Giving that material is hard to ship in, cash flow is shot for a lot of people and everyone is paying very slowly. Tax department been given the nudge to go in hard and collect debt.

Roots=rorts

 

[sptrawler]

Roots=rorts

Yes late payments for roots, can lead to problems, whether your married or single.

 

[PZ99]

Roots=rorts

Not a truer word spoken... just ask Gladys Berejiklian

 

[PZ99]

Minimum wage up by 5.2 %.

Labor got what they wanted but now they need to cut taxes for business right now.

Fair Work Commission says 5.2pc increase 'protects real value of wages' for Australia's lowest-paid workers — as it happened

The national minimum wage will be $812.60 per week, or $21.38 per hour, after a decision by the commission exceeds the government's suggested 5.1 per cent increase.

www.abc.net.au

 

[rederob]

Labor got what they wanted but now they need to cut taxes for business right now.

Why?
When I had a small company taxes were never a problem as there were so many ways to reduce them!
The company also had lots of assets that were put to excellent personal use.
Small businesses should always have a good tax accountant and not rely on bookkeepers to save them money.

 

[PZ99]

Why?

Because increased wages + higher inflation + higher interest rates + higher fuel costs + higher power costs is not the sort of thing a business can absorb let alone make disappear into thin air no matter how good their tax accountant is.

I don't want this to become another case where the business community cite the above to lobby the 'independent' FWA to cut penalty rates again which has always been their low hanging fruit.

 

[rederob]

Because increased wages + higher inflation + higher interest rates + higher fuel costs + higher power costs is not the sort of thing a business can absorb let alone make disappear into thin air no matter how good their tax accountant is.

I don't want this to become another case where the business community cite the above to lobby the 'independent' FWA to cut penalty rates again which has always been their low hanging fruit.

All businesses adjust their prices accordingly.
It's not rocket surgery.

 

[PZ99]

All businesses adjust their prices accordingly.
It's not rocket surgery.

Then feel free to pass on this simplistic advice to the Chamber of Commerce and business community.
They're already having a whinge.

 

[rederob]

Then feel free to pass on this simplistic advice to the Chamber of Commerce and business community.
They're already having a whinge.

Hawke was the only person in my memory able to get workers and businesses to agree on what had to be done regarding wages.
Aside from that I cannot ever recall a single employer body supporting a wage push.
The only time wages significantly affect a business is when they cease to be competitive, and there are lots of reasons how that can occur. Given their peers are at the same disadvantage with wage increases, that factor is logically excluded.

 

[PZ99]

Hawke was the only person in my memory able to get workers and businesses to agree on what had to be done regarding wages.
Aside from that I cannot ever recall a single employer body supporting a wage push.
The only time wages significantly affect a business is when they cease to be competitive, and there are lots of reasons how that can occur.

Taxation is the other driver which was a key change made by the Hawke Govt to make that agreement possible.

 

[Eager]

Then feel free to pass on this simplistic advice to the Chamber of Commerce and business community.
They're already having a whinge.

Indeed. ACCI chief exec Andrew McKellar has said that the cost over the next 12 months will be $7.9b.

Someone needs to remind him that all of it will probably be put back into the economy. *facepalm*

 

[rederob]

Indeed. ACCI chief exec Andrew McKellar has said that the cost over the next 12 months will be $7.9b.

Someone needs to remind him that all of it will probably be put back into the economy. *facepalm*

During the GFC Keating put a $1000 bonus back in the hands of taxpayers.
During the pandemic Jobseeker bolstered payments to the unemployed.
All the evidence suggests these payments were stimulatory.

The Coalition's record on real wages was abysmal:

However, during the same period employer profit margins were constantly increasing. So morally bankrupt are employer groups that they actually argued for further wage cuts, against the above backdrop.

 

[PZ99]

Wow.... $10k for crocodile tears ? What a joke. LOL

Cafe owner gifted $10,000 by Kyle and Jackie O after teary interview

Phillip Salhab, who runs the Appetite eatery in Five Dock, said he feared his business couldn't survive amid rising cost pressures and a 5.2 per cent increase to the minimum wage.

www.dailymail.co.uk

 

[Smurf1976]

All businesses adjust their prices accordingly.

Not if they're trade exposed they can't.

It's either pass the cost back to workers / government / suppliers or go broke. This problem is of course not directly due to which party is in government - both seem to fail to grasp the realities of trade exposed industry.

At present we seem to have a very divided economy. Some sectors booming, others basically stuffed and ignored.

 

[moXJO]

Intentionally or not, some of the best wages I've seen came under the coalition. Mainly from the fact we were not importing as many workers during covid.
Job opportunities were plentiful.
People had a lot of money for years.

 

[moXJO]

Wow.... $10k for crocodile tears ? What a joke. LOL

Cafe owner gifted $10,000 by Kyle and Jackie O after teary interview

Phillip Salhab, who runs the Appetite eatery in Five Dock, said he feared his business couldn't survive amid rising cost pressures and a 5.2 per cent increase to the minimum wage.

www.dailymail.co.uk

Hospitality is so mixed at the moment. You can't get staff. Delivery drivers are impossible to find with the current fuel prices. And you are paying a huge amount for workers.

Restaurants most guys I know are raking it in. Cafes are the opposite. They seem to be struggling as they have hit the point where they can't raise prices anymore. Customers are baulking at the expense.

Work from home had an effect as well.