{"id":6229,"date":"2023-09-19T13:09:02","date_gmt":"2023-09-19T03:09:02","guid":{"rendered":"https:\/\/ghr.com.au\/?p=6229"},"modified":"2023-09-19T13:16:11","modified_gmt":"2023-09-19T03:16:11","slug":"business-update-20-september-2023","status":"publish","type":"post","link":"https:\/\/ghr.com.au\/business-update-20-september-2023\/","title":{"rendered":"Business Update \u2013 20 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>The dream of business ownership is drifting out of reach for young Aussies<\/h2>\n<p>In the past, starting a business was a young person\u2019s golden ticket to financial independence. Today, however, for many young Australians, this <a href=\"https:\/\/www.smartcompany.com.au\/opinion\/dream-business-ownership-young-aussies\/\" target=\"_blank\" rel=\"noopener\">dream is drifting out of reach<\/a>.<\/p>\n<h2>August unemployment rate remains firm at 3.7%<\/h2>\n<p>The latest employment data released by the Australian Bureau of Statistics (ABS) reveals that the <a href=\"https:\/\/dynamicbusiness.com\/topics\/news\/august-unemployment-rate-remains-firm-at-3-7.html\" target=\"_blank\" rel=\"noopener\">unemployment rate remained steady<\/a> at 3.7 per cent in August, when adjusted for seasonal variations.<\/p>\n<h2>Piggybank killer: Cashless society unstoppable, expert warns<\/h2>\n<p>The move by a major\u00a0Australian bank\u00a0to <a href=\"https:\/\/www.9news.com.au\/finance\/cashless-australia-closer-after-bank-phases-out-notes-and-cheques\/b6196d75-b7fa-4745-aca8-6ea95f98d4fe\" target=\"_blank\" rel=\"noopener\">phase out cash and cheques<\/a> appears to be the latest chapter in the relentless march to a cashless society as more people embrace electronic payments.<\/p>\n<h2>Hands off superannuation: Calls to protect retirement funds<\/h2>\n<p>The objective of super could open the door for the <a href=\"https:\/\/www.investordaily.com.au\/superannuation\/53944-hands-off-superannuation-calls-to-protect-retirement-funds\" target=\"_blank\" rel=\"noopener\">government to use Australia\u2019s $3.5 trillion superannuation savings for nation-building initiatives<\/a>, said the head of one of Australia\u2019s financial associations.<\/p>\n<h2>Huge miscalculation in population growth leaves Australia\u2019s future uncertain<\/h2>\n<p>A whopping <a href=\"https:\/\/www.heraldsun.com.au\/business\/economy\/huge-miscalculation-in-population-growth-leaves-australias-future-uncertain\/news-story\/7038684e0b0ce3ebb87d1a724b63cd4c\" target=\"_blank\" rel=\"noopener\">three million more people than anticipated are calling Australia home<\/a> and that\u2019s not the only miscalculation that was made 20 years ago<\/p>\n<h2>Incoming Productivity Commission Chair says Australians should pay inheritance taxes<\/h2>\n<p>Australians could soon be grappling with the <a href=\"https:\/\/www.theepochtimes.com\/world\/australians-should-pay-inheritance-taxes-incoming-productivity-commission-chair-5489980?utm_source=Aomorningbriefnoe&amp;src_src=Aomorningbriefnoe&amp;utm_campaign=Aomb-2023-09-12&amp;src_cmp=Aomb-2023-09-12&amp;utm_medium=Aoemail&amp;cta_utm_source=Aomorningbriefnoecta&amp;est=j6ZWxSBFp%2FJ48wb6os3nR5o1q5kCxejxZD5XjFGCQaGcBJe78C8u41bl6fIPOB1c\" target=\"_blank\" rel=\"noopener\">possibility of taxes on inheritances<\/a> after incoming Productivity Commission Chair Danielle Wood said there was &#8220;simply no policy justification&#8221; for how little tax retirees allegedly pay.<\/p>\n<h2>Full steam ahead: Gas industry pumps $120b into economy, up 42 per cent<\/h2>\n<p>The <a href=\"https:\/\/inqld.com.au\/business\/2023\/09\/11\/full-steam-ahead-gas-industry-generates-121-billion-to-economy-up-42-per-cent\/\" target=\"_blank\" rel=\"noopener\">gas industry generated $121 billion for the economy last year<\/a>, up 42 per cent on the previous COVID-19-impacted year, the head of the sector\u2019s peak national body says.<\/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. The dream of business ownership is drifting out of reach for young Aussies In the past, starting a business was a young person\u2019s golden ticket to financial independence. Today, however, for many young Australians, &hellip; <a href=\"https:\/\/ghr.com.au\/business-update-20-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 20 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-20-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 20 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. 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The dream of business ownership is drifting out of reach for young Aussies In the past, starting a business was a young person\u2019s golden ticket to financial independence. 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