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How the Budget will impact Independent Contractors and Businesses

Posted on May 14, 2014 by SDP in business, contractors with Comments Disabled

Author: Raj Sesha, Director SDP Solutions and Tax Agent

Highlights for Independent Contractors and Businesses

With the Federal Budget 2014 announced, there was no doubt that we would all be affected in one way or another. We all guessed right in what we were expecting… big cuts and changes. Here we have focused the changes in the Budget that will affect businesses and independent contractors such as, tax, super and Medicare. The Key question that business will be asking, in my opinion is, what will be the impact on job growth and consumer sentiments as a result of this budget.

Business Wish list for Budget 2014

Posted on May 8, 2014 by SDP in economy with Comments Disabled

Company tax cut is number one on business wish list for this year’s budget

Budget priorities for Businesses include reduce company tax, increased investment in infrastructure and bringing the budget back to balance within 5 years, by 2019.

An Australian Industry Group survey of 364 businesses finds 70% rank reduced company tax as one of their top priorities.

This was closely followed by increasing spending on infrastructure (68%), while 57% said bringing the balancing the budget over the next five years was a priority.

These preferences were followed by 39% who want increased spending on training and apprentices and 39% who want to raise tax incentives for industry research and development, while 28% want to bring the budget into balance within two years.
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Employment Growth for April Smashes Market Expectation

Posted on May 8, 2014 by SDP in employment with Comments Disabled

Great news this regarding employment growth

Employment Growth for April Smashes Market Expectation in Australia

Employment Growth for April smashes expectation

The Australian economy added 14,000 jobs in April, smashing the market expectation of 9,000.

It is an amazing figure, especially given April was an unusual month for Australian business, with the ANZAC Day holiday falling the week after Easter, leading to a three-day work week which many people took off entirely. This had the potential to affect job creation decisions.