{"id":6222,"date":"2023-09-12T10:36:02","date_gmt":"2023-09-12T00:36:02","guid":{"rendered":"https:\/\/ghr.com.au\/?p=6222"},"modified":"2023-09-12T11:10:36","modified_gmt":"2023-09-12T01:10:36","slug":"business-update-13-september-2023","status":"publish","type":"post","link":"https:\/\/ghr.com.au\/business-update-13-september-2023\/","title":{"rendered":"Business Update \u2013 13 September 2023"},"content":{"rendered":"<p>Welcome to our Weekly Digest &#8211; stay in the know with some recent news updates relevant to business and the economy.<\/p>\n<h2>Consumers opt for convenience and money-saving technologies amidst higher cost of living<\/h2>\n<p>Budget-conscious Australians are redirecting funds towards essential goods and services or savings, and changing their shopping and spending habits in response to cost of living pressures, a new <a href=\"https:\/\/www.commbank.com.au\/articles\/newsroom\/2023\/09\/consumer-insights-2023.html\" target=\"_blank\" rel=\"noopener\">CommBank survey<\/a> shows.<\/p>\n<h2>Rethinking taxation for Australia\u2019s future<\/h2>\n<p>A lively <a href=\"https:\/\/dynamicbusiness.com\/leadership-2\/expert\/opinion\/rethinking-taxation-for-australias-future.html\" target=\"_blank\" rel=\"noopener\">panel discussion on tax, climate and the economy<\/a> kicked off at\u00a0The Tax Summit\u00a02023, hosted by\u00a0The Tax Institute (TTI), with panel speakers sharing frustrations and hope over the country\u2019s strides towards true reform and a better Australia for future generations.<\/p>\n<h2>The reason why Australia&#8217;s two wind tower producers have no orders<\/h2>\n<p>Australia&#8217;s two wind tower producers have <a href=\"https:\/\/www.abc.net.au\/news\/2023-09-11\/wind-tower-companies-and-unions-want-local-procurement-guarantee\/102837748\" target=\"_blank\" rel=\"noopener\">called for supply mandates<\/a> to ensure Australian businesses do not lose out to cheaper overseas alternatives during procurement rounds for energy developments.<\/p>\n<h2>Australia\u2019s economy is smaller than a year ago on a per capita basis<\/h2>\n<p>Australia&#8217;s economy has shrunk on a per capita basis, similar to the Global Financial Crisis and the 1990s recession.\u00a0 <a href=\"https:\/\/www.theguardian.com\/business\/grogonomics\/2023\/sep\/07\/australias-economy-has-got-smaller-on-a-per-capita-basis-like-it-did-in-the-gfc-and-1990s-recession-so-you-know-not-good\" target=\"_blank\" rel=\"noopener\">Greg Jericho analyses<\/a> the reasons for this and the outlook.<\/p>\n<h2>Strikes start at major Chevron Australia LNG projects, no talks planned<\/h2>\n<p><a href=\"https:\/\/www.reuters.com\/business\/energy\/chevron-australia-lng-workers-begin-strike-friday-2023-09-07\/?utm_source=Sailthru&amp;utm_medium=Newsletter&amp;utm_campaign=Daily-Briefing&amp;utm_term=090823\" target=\"_blank\" rel=\"noopener\">Workers at Chevron&#8217;s\u00a0(CVX.N)\u00a0liquefied natural gas (LNG) projects in Australia went on strike on Friday<\/a> after talks broke down, potentially disrupting output from facilities that account for over 5% of global supply.<\/p>\n<h2>ASIC sues AustralianSuper over multiple superannuation accounts<\/h2>\n<p>ASIC alleges that for almost ten years, <a href=\"https:\/\/asic.gov.au\/about-asic\/news-centre\/find-a-media-release\/2023-releases\/23-249mr-asic-sues-australiansuper-over-multiple-superannuation-accounts\/\" target=\"_blank\" rel=\"noopener\">AustralianSuper failed to have adequate policies and procedures to identify members who held multiple AustralianSuper accounts<\/a> and to merge those accounts, where merger was in the member\u2019s best interests.<\/p>\n<h2>Australia&#8217;s economy continued to slow in June quarter, households finding it harder to save<\/h2>\n<p>Australia&#8217;s economy has recorded a <a href=\"https:\/\/www.abc.net.au\/news\/2023-09-06\/gdp-june-quarter-2023\/102820596\" target=\"_blank\" rel=\"noopener\">slower annual growth rate<\/a> of 2.1 per cent, according to the Australian Bureau of Statistics (ABS).<\/p>\n<h2>Airfares set to fall by end of next year but travellers unlikely to see return of pre-COVID pandemic prices<\/h2>\n<p>Aviation expert Keith Tonkin has weighed in on <a href=\"https:\/\/www.skynews.com.au\/australia-news\/airfares-set-to-fall-by-end-of-next-year-but-travellers-unlikely-to-see-return-of-precovid-pandemic-prices\/news-story\/b700aa5f788d29c96837f7a4a49be9b3\" target=\"_blank\" rel=\"noopener\">when he expects airfares prices to fall<\/a> as the demand for overseas travel outstrips available supply.<\/p>\n<h2>Open skies, scholarships and less red tape: Albanese pushes new economic growth strategy in Asia<\/h2>\n<p>Cutting business red tape, boosting scholarships, and freeing up the aviation sector are among the changes flagged in a<a href=\"https:\/\/www.smartcompany.com.au\/finance\/economy\/albanese-new-economic-growth-strategy-australia-asia\/\" target=\"_blank\" rel=\"noopener\"> Southeast Asian trade strategy<\/a> unveiled by Prime Minister Anthony Albanese in Jakarta.<\/p>\n<h2>Identity theft sparks concern over proposed National Digital ID<\/h2>\n<p>\u201cThere is a growing <a href=\"https:\/\/www.theepochtimes.com\/world\/spiking-online-identity-theft-sparks-concern-over-proposed-national-digital-id-5486263?utm_source=Aomorningbriefnoe&amp;src_src=Aomorningbriefnoe&amp;utm_campaign=Aomb-2023-09-06&amp;src_cmp=Aomb-2023-09-06&amp;utm_medium=Aoemail&amp;cta_utm_source=Aomorningbriefnoecta&amp;est=BNRkyEr3C56MfsUGQ2YDlcKTWzL74tN%2BfCdjWqT3G1DdCJa84jqLMAGSWSdhYo4m\" target=\"_blank\" rel=\"noopener\">trend of scammers impersonating government organisations<\/a>, including myGov and Services Australia, to try and steal myGov sign-in credentials and other personal information, such as bank details,\u201d said General Manager at Services Australia, Hank Jongen.<\/p>\n<h2>Get in touch<\/h2>\n<p>Contact us if you have any questions or want to discuss the next steps for your business.<\/p>\n<p><a class=\"button\" href=\"\/contact-us\/\">Contact us<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Welcome to our Weekly Digest &#8211; stay in the know with some recent news updates relevant to business and the economy. Consumers opt for convenience and money-saving technologies amidst higher cost of living Budget-conscious Australians are redirecting funds towards essential goods and services or savings, and changing their shopping and spending habits in response to &hellip; <a href=\"https:\/\/ghr.com.au\/business-update-13-september-2023\/\">Continued<\/a><\/p>\n","protected":false},"author":2,"featured_media":5642,"comment_status":"close","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[1],"tags":[],"jetpack_publicize_connections":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Business Update \u2013 13 September 2023 - GHR Accounting Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ghr.com.au\/business-update-13-september-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Business Update \u2013 13 September 2023 - GHR Accounting Group\" \/>\n<meta property=\"og:description\" content=\"Welcome to our Weekly Digest &#8211; stay in the know with some recent news updates relevant to business and the economy. Consumers opt for convenience and money-saving technologies amidst higher cost of living Budget-conscious Australians are redirecting funds towards essential goods and services or savings, and changing their shopping and spending habits in response to &hellip; Continued\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ghr.com.au\/business-update-13-september-2023\/\" \/>\n<meta property=\"og:site_name\" content=\"GHR Accounting Group\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-12T00:36:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-12T01:10:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ghr.com.au\/app\/uploads\/weekly-update-1-3.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"750\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Bizink\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Bizink\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ghr.com.au\/business-update-13-september-2023\/\",\"url\":\"https:\/\/ghr.com.au\/business-update-13-september-2023\/\",\"name\":\"Business Update \u2013 13 September 2023 - GHR Accounting Group\",\"isPartOf\":{\"@id\":\"https:\/\/ghr.com.au\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/ghr.com.au\/business-update-13-september-2023\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/ghr.com.au\/business-update-13-september-2023\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/ghr.com.au\/app\/uploads\/weekly-update-1-3.jpg\",\"datePublished\":\"2023-09-12T00:36:02+00:00\",\"dateModified\":\"2023-09-12T01:10:36+00:00\",\"author\":{\"@id\":\"https:\/\/ghr.com.au\/#\/schema\/person\/b104a78b45b435df4451167efced007b\"},\"breadcrumb\":{\"@id\":\"https:\/\/ghr.com.au\/business-update-13-september-2023\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ghr.com.au\/business-update-13-september-2023\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ghr.com.au\/business-update-13-september-2023\/#primaryimage\",\"url\":\"https:\/\/ghr.com.au\/app\/uploads\/weekly-update-1-3.jpg\",\"contentUrl\":\"https:\/\/ghr.com.au\/app\/uploads\/weekly-update-1-3.jpg\",\"width\":750,\"height\":500,\"caption\":\"Weekly Update 1.jpg\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ghr.com.au\/business-update-13-september-2023\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ghr.com.au\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Business Update \u2013 13 September 2023\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ghr.com.au\/#website\",\"url\":\"https:\/\/ghr.com.au\/\",\"name\":\"GHR Accounting Group\",\"description\":\"Accountants Northern Beaches | Financial Planners | GHR\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ghr.com.au\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/ghr.com.au\/#\/schema\/person\/b104a78b45b435df4451167efced007b\",\"name\":\"Bizink\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ghr.com.au\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/faa045ce72d95971cd78a70031145145?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/faa045ce72d95971cd78a70031145145?s=96&d=mm&r=g\",\"caption\":\"Bizink\"},\"url\":\"https:\/\/ghr.com.au\/author\/bizinkwpadmin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Business Update \u2013 13 September 2023 - GHR Accounting Group","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ghr.com.au\/business-update-13-september-2023\/","og_locale":"en_US","og_type":"article","og_title":"Business Update \u2013 13 September 2023 - GHR Accounting Group","og_description":"Welcome to our Weekly Digest &#8211; stay in the know with some recent news updates relevant to business and the economy. 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