{"id":10370,"date":"2023-10-17T07:55:34","date_gmt":"2023-10-16T20:55:34","guid":{"rendered":"https:\/\/countax.com.au\/?post_type=weekly-digest&p=10370"},"modified":"2023-10-17T08:14:48","modified_gmt":"2023-10-16T21:14:48","slug":"weekly-digest-18-october-2023","status":"publish","type":"weekly-digest","link":"https:\/\/countax.com.au\/weekly-digest\/weekly-digest-18-october-2023\/","title":{"rendered":"Weekly Digest \u2013 18 October 2023"},"content":{"rendered":"
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.<\/p>\n
New data from MYOB reveals that small businesses are experiencing what is called a spending \u2018cold snap\u2019<\/a> with cash and EFT deposits on a decline since June this year.<\/p>\n In an effort\u00a0to ramp up its software\u00a0offering for hybrid workplaces, Australian-founded tech giant Atlassian Corporation (NASDAQ: TEAM) has announced it has acquired video messaging platform Loom<\/a> for US$975 million ($1.5 billion).<\/p>\n In response to the ever-increasing demand for e-commerce services, Australia Post has recently inaugurated a state-of-the-art parcel facility<\/a> that embodies innovation and efficiency.<\/p>\n In a significant development in the world of finance and payments, the Albanese Government of Australia has taken strides towards regulating digital payment wallets<\/a>, such as Google Pay and Apple Pay, on par with other traditional payment methods.<\/p>\n This week the International Monetary Fund released its latest six-monthly world economic outlook\u00a0and\u00a0global financial stability report. As you might imagine with reports that have \u201cworld\u201d and \u201cglobal\u201d in their titles, they cover a wide range of issues, so let\u2019s breakdown what you need to know<\/a>.<\/p>\n A new study from professional services firm\u00a0Deloitte has determined that more than one quarter of the Australian economy faces imminent and significant disruption due to generative AI<\/a> \u2013 calculated to be equivalent to almost $600 billion worth of upended economic activity.\u00a0 Yet, so far, only 1.4 percent of all Australian businesses and less than 10 percent of the country\u2019s larger employers have officially adopted the rapidly emerging technology.<\/p>\n Australians taken to quarantine hotels during COVID-19 now face state-backed garnishing orders for overdue payments. Revenue New South Wales (NSW) has issued orders to take money from 5,190 bank accounts of residents with hotel quarantine debts<\/a>.<\/p>\n As announced in the 2023\u201324 Budget, employers will be required to pay their employees\u2019 superannuation guarantee entitlements on the same day that they pay salary and wages. The consultation paper provides industry and stakeholders an opportunity to provide input on implementing payday superannuation and a redesigned compliance framework to encourage employers to pay their super as close as possible to payday. All interested parties are encouraged to provide input on the consultation paper\u00a0<\/a>by\u00a03\u00a0November\u00a0 2023.<\/p>\n The Australian Competition and Consumer Commission (ACCC) has warned all households with a solar storage system to check if their system at home contains recalled LG batteries<\/a> and, if so, switch them off immediately.<\/p>\n Contact us if you have any questions or want to discuss the next steps for your business.<\/p>\n","protected":false},"featured_media":0,"comment_status":"close","ping_status":"closed","template":"","format":"standard","weekly-digest-topic":[],"weekly-digest-type":[],"weekly-digest-region":[],"acf":[],"yoast_head":"\nAtlassian acquires video messaging platform Loom for $1.5b<\/h2>\n
Australia Post unveils cutting-edge parcel facility to meet soaring e-commerce demand<\/h2>\n
Albanese government moves towards regulating digital payment wallets, phasing out cheque payments<\/h2>\n
IMF sees bleaker economic times ahead for Australia, but the picture\u2019s not all bad<\/h2>\n
Innovation is imperative, but Australian businesses held back by fear of failure in uncertain economy<\/h2>\n
Deloitte: Businesses should brace for worker-led AI disruption<\/h2>\n
State seizes money from 5,000 accounts for overdue hotel quarantine debts<\/h2>\n
Securing Australians’ superannuation<\/h2>\n
Households urged to switch off potentially dangerous LG solar batteries immediately<\/h2>\n
Get in touch<\/h2>\n