After the economic downturn and uncertainty that COVID-19 has brought this year, the big question is when growth will return.
Looking ahead, there has been a recovery in business conditions and confidence. Conversely, retail sales weakened in late September as households reduced their spending with the tapering of the JobKeeper program from October onwards.
Leaders of resilient businesses ensure they understand their market, especially the customers and competition. Read how.
We are operating in a world where interest rates are now very low both overseas and here in Australia; a time of uncertainty has arisen. Therefore, in this current climate, your assets should be sheltered to ensure financial security.
The world began 2020 much as it ended in 2019. There was growing optimism in the global economy with expectations that the US and China had ‘buried the hatchet’ on trade disputes and the United Kingdom would be exiting the European Union (EU) in a less disruptive fashion. This optimism lasted until February.
Due to the government announcing massive fiscal measures in the last two weeks we would like to encourage all our regular BAS clients to please organise to deliver (preferably by email) your March BAS documents/files to us as soon as possible as you may be entitled to the Boosting Cash Flow for Employers government stimulus package.
To help you gain a better understanding of the government stimulus measures that you may be able to access, we have summarised the key developments as they stand so far.
In Australia, economic growth in the September 2019 quarter remained weak with annual growth at 1.7% in the Autumn 2020 economic outlook.
The trade war between the United States and China continued during the September 2019 quarter as the US imposed new tariffs on goods imported from China.
Slow economic growth is a global theme, with few exceptions. The Australian economy is not immune to this slowdown.