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Income tax cuts, minimum wage increases, superannuation bumps, and more

Attention Australian SMEs

Author

Maziar Foroudian
July 02, 2024

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Latest Stories

Attention Australian SMEs! July 1st brings a wave of regulatory changes, from income tax cuts and minimum wage increases to superannuation bumps and Single Touch Payroll finalization. Stay ahead of the game with our quick guide.

Confused about the new industrial relations changes? COSBOA has your back with their latest initiative - Small Business Peak. Featuring easy-to-understand toolkits and a dedicated portal, this resource hub aims to simplify the complex IR changes and provide support to small business owners.

The Australian startup scene is heating up with a 30% increase in funding and a resurgence of traditional investment rounds. Yet, the gender gap still looms, with male-founded startups dominating the funding landscape. Join us as we explore how the industry is working towards a more inclusive and successful future.

Are you curious about the cutting-edge companies making waves in the tech and sustainability space? Read on to learn about the latest funding highlights, including a $4 million investment in 1Breadcrumb and a $100 million round for Samsara Eco. Don't miss out on these game-changing developments!

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Top stories

Discover seven standout Australian startups that have successfully raised early-stage funding in 2024. From robotics tackling loneliness to fabric imaging technology, these innovative ventures are making their mark with investments ranging from $400,000 to $3 million.

Discover innovative strategies for startup revenue in slow periods. Experts suggest leveraging AI for dynamic pricing, consulting services, strategic partnerships, and revenue diversification. Engage customers with contests, live demos, and micro-influencers for increased sales and growth.

Australia

The slow progress in clean energy generation is set to drive up wholesale power prices, with UBS analysts predicting a 20% increase to $104 per megawatt hour by 2029, impacting household bills.

Sam Mostyn, a prominent Australian businesswoman, has been sworn in as the 28th Governor-General of Australia. She is known for her advocacy for women in business and wore a custom suit by ethical brand The Social Outfit.

Financial markets and media speculation on future interest rates may affect the Reserve Bank's credibility. Recent data showing rising prices has prompted discussion, but experts caution against setting policy based on one number. Importantly, full employment has changed the economy's dynamics.

Transurban is accused of firing an employee for whistleblowing, but denies breaching the Fair Work Act. Former worker Rohan Brothers alleged his job was terminated after complaints. The case is now in court.

Australian Economy

The Reserve Bank's possible tightening could harm major bank stocks and slow down the mortgage market. Despite assumed benefits of increased lending profits, recent data suggests an August rate increase may be on the horizon.

Small cap stocks experienced dramatic shifts in performance over a weekend, with top performers on Friday becoming worst performers on Monday. Despite no major news events, these volatile swings continue to puzzle investors.

World

Regulator Ofgem's new price cap has led to a £122 drop in energy bills for typical households in England, Wales, and Scotland. However, forecasters predict a £155 increase by October due to rising costs.

Eli Lilly CEO Dave Ricks criticizes UK planning system, saying it hinders investment compared to the US and Ireland. Both Tories and Labour pledge to reform planning laws, with Ricks urging the next government to attract more investment.

The decline in US start-up rates can be explained by a slowdown in labor supply growth, largely due to demographics. This channel accounts for about half of the decline and sheds light on stable incumbent firm survival and growth.

Tech

In a recent interview with YouTuber Kallaway, Meta CEO Mark Zuckerberg discussed the future of AI. Unlike other tech giants, Meta aims to develop multiple AIs to reflect different interests, opposing the idea of a single "all-knowing" AI.

DispatchMVPAI is launching an AI-powered dispatch platform in September 2024, revolutionizing trucking operations with advanced AI algorithms for route optimization, real-time monitoring, predictive maintenance, compliance automation, and enhanced user roles. This innovation aims to drive sustainability in the transportation sector.

Rigorous quality assurance testing is essential for efficient chatbots, ensuring high user satisfaction. Evaluating functionality, user experience, and technical performance is crucial for seamless interactions. Focusing on factors like response accuracy and contextual understanding helps create reliable and user-friendly chatbots.

Curated for you

Generative AI models ChatGPT and Copilot spread false information about a debate delay, despite being debunked. Concerns grow over the impact of chatbots on election misinformation. Research shows AI's tendency for inaccuracies.

New research measures the economic value of becoming a superhero through a discrete choice experiment. Results show participants value teleportation the most, shedding light on preferences for superpowers.

In August 2024, content marketers can connect with customers through articles and videos celebrating the 75th anniversary of the NBA and Alfred Hitchcock, targeting parents, celebrants, and challenge seekers for engaging content ideas.

In 2024, tracking SEO metrics is crucial for online success. Focus on keyword research, page speed, content quality, link building, conversion rates, and user experience. Implement strategies and tools to optimize performance and stay ahead of the competition.

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