The ATO has released its latest small business benchmarks, providing over 100 different industries with average cost of sales and average total expenses. Businesses as varied as seafood retailers, bricklayers and dentists can see clearly what the relevant benchmarks are for their industry.
The ATO is warning taxpayers they will be paying close attention to claims for ‘other’ work-related expenses this year, and is reminding people to keep appropriate records.
Bolstered by upbeat economic outlooks at home and abroad, Australian CFO optimism continues to hold strong. And according to the latest edition of Deloitte’s CFO Sentiment report, reduced financial volatility is also increasing risk appetite,
Key points from the H2 2017 survey behind the report – A strong global economy underpins rising optimism and risk appetite – conducted in November and December, include:
A net 71% of CFOs are optimistic about the financial prospects of their companies
Net positive confidence results have now been recorded since H1 2013
A record 62% are comfortable with taking on more balance sheet risk
63% are concerned about the impact of further regulatory changes
42% believe innovation is their number one strategic planning consideration.
Global and local outlooks support optimism and risk appetite
Australian workers are spending almost a fifth of their week bored on the job, according to new independent research among 460 hiring managers commissioned by specialised recruiter Robert Half. On average, managers believe their employees are spending 16% of their week bored at work – which is equivalent to six hours a week for someone working a 7.5-hour day .
Employees in Western Australia seem to be the most bored, with managers anticipating that staff spend more than six (6.4) hours a week uninterested in their jobs. This is closely followed by Queensland (6), Victoria (6) and New South Wales (5.25), who are estimated to spend between 5-6 hours a week bored at work.
Financial elder abuse, life savings lost through shonky investments – older people are high risk because they have more money just before retirement, on average, than at any other stage in their lives, says QUT PhD researcher Sylvain Hohn.
Mr Hohn, from QUT Business School, is investigating how older people make financial decisions and their preparedness for the potential financial risk posed by age-related cognitive decline.
“Financial decision-making is crucial for financial well-being and as we grow older, these decisions become even more vital,” Mr Hohn said.