Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.
ATO reminds Australians about changes this tax season
The Australian Tax Office anticipates that many will continue to be impacted by COVID-19, and is offering support to get your taxes right the first time. A summary can be found here.
Cash rate expected to rise this week
The official rate is expected to reach 0.6% or 0.75% – another rise in variable interest rates for homeowners and businesses
Labor calls for wage increase
The submission was made to the Fair Work Commission on Friday, with an aim to assist minimum wage workers, who the party views as “heroes of the pandemic.”
Biden brushes off Musk’s comments
The American President touted the country’s strong jobs report, and wished the Tesla CEO “lots of luck on his trip to the moon,” when questioned about Musk’s recent comments about having a “super bad feeling” about the economy.
Cryptocurrency owners have been warned to start working out what they owe in anticipation of the upcoming tax season. Lessons come from the US, where their recent tax season saw some people owing more than what they earned after the recent crypto crash.
Food producers warn gas prices will be passed to consumer
Job vacancies grow nearly 25% in regional Australia
The latest data from the Regional Australia Institute shows that there were 84,600 regional job vacancies in April 2022. The numbers reveal the optimism that is driving growth outside capital cities, though a lack of services and housing constrain opportunities.
ATO issues reminder to small business owners about changes to superannuation