eWombat Search

Latest Accounting News
Hot Issues
ATO issues warning after ‘unprecedented’ spike in impersonation scams
Crypto transactions in ATO sights with new data-matching program
Government to establish $2 billion fund for small business lending
Small business corporate tax rates Bill is now law
ATO to double rental deduction audits to 4,500
ATO set to issue excess super contribution determinations
How's Australia going as we approach the election?
Single Touch Payroll (STP) is compulsory for all small businesses.
Federal Budget 2019 - Overview
How the 2019 Federal Budget affects you
FBT Reminder – Odometer Reading
‘Big awareness push’ underway as STP deadline approaches
GST collection on overseas goods at 300% of forecasts
The problem with getting to 53 years of age.
Lost Beneficiaries
New quarterly STP reporting method for closely held payees revealed
Some Australian figures to help on Budget night.
Employers hit with rolling SG audits as ATO toughens stance
Resources to help understand and implement Single Touch Payroll (STP)
Big fines, prison on the cards as new SG penalties introduced
Extra website resources and tools is one way we offer you and your family more.
FBT Exemption for Various Work Vehicles
Tax payable on expenditure recoupments
ATO identifies SMSF contravention red flags
Who wins dispute about taxable income?
Australia - facts & figures March 2019
Strategies to handle scam phone calls and problem e-mails.
Instant asset write-off threshold upped to $25k
Articles archive
Quarter 1 January - March 2019
Quarter 4 October - December 2018
Quarter 3 July - September 2018
Quarter 2 April - June 2018
Quarter 1 January - March 2018
Quarter 4 October - December 2017
Quarter 3 July - September 2017
Quarter 2 April - June 2017
Quarter 1 January - March 2017
Quarter 4 October - December 2016
Quarter 3 July - September 2016
Quarter 2 April - June 2016
Quarter 1 January - March 2016
Quarter 4 October - December 2015
Quarter 3 July - September 2015
Quarter 2 April - June 2015
Quarter 1 January - March 2015
Quarter 4 October - December 2014
Quarter 1 of 2018
Articles
Our website is really our digital office.
‘Substantiation will be a key focus’: ATO drums in tax time 2018 hit list
Super changes: $1.6 million transfer balance cap and death benefit pensions
Payroll, compliance issues top dodgy practices in Aussie business
Employee travel expense deductions
The Goldilocks effect - Economic and market update 4Q 17
Tax assessments confirmed for undisclosed business income
Super returns on the up despite clients’ hesitation
Australia. All you need to know to be the expert.
Business confidence hits 5-month high: NAB
Caution advised on best interests duty with cryptocurrencies
$20,000 asset write-off renewed for another financial year.
SMSF compliance traps with bitcoin
Where Australia is at. Our leading indicators.
Foreign resident CGT withholding: early recognition of tax credit
ATO set to doorknock as 60% of cash-heavy businesses caught
New downsizing cap available
Capital Gains and Renounceable Rights
Treasury finds Australia 'increasingly uncompetitive' as US moves on tax plans
Australia's vital statistics
Our Advent calendar for 2017
Business confidence hits 5-month high: NAB

NAB’s business confidence index jumped four points in December as business confidence and business conditions begin to converge.



         


 


According to the latest results of NAB’s monthly business survey, business confidence has “almost” caught up to business conditions.


The business confidence index rose four points to 11 index points in the December 2017, the highest level since July 2017 – while the business conditions index remained unchanged at 13 points.


“This has helped to narrow the perplexing gap between business conditions and confidence evident over the past couple of years, and is an encouraging signal for investment,” NAB group chief economist Alan Oster said in a statement. 



Source: NAB
 


The higher reading in business confidence was “perhaps driven by a stronger global economic backdrop”, as well as strong conditions across all industries bar retail.


“The construction industry is performing well, thanks to support from a large pipeline of residential construction and stronger non-residential building approvals,” Mr Oster said.


“Mining has also gone from being a major drag on the index to experiencing above average business conditions.


“The retail sector meanwhile continues to struggle with slightly negative business conditions, indicating a modest rate of contraction in the industry.”


Retail stood as the only industry that was a “consistent underperformer” and reporting negative business conditions.


Mr Oster also pointed out that employment growth figures were overstated and falling from its “current extraordinary heights”.


“Official employment figures show extraordinary employment growth of over 400,000 over the year to December,” he said.


“The NAB Business Survey employment index on the other hand has not experienced the same wild swings in recent years, and tends to suggest the official figures may be currently ‘overstating’ the degree of job creation.


“The employment index implies employment growth of a little less than 300,000 at present, and a slowdown to around 240,000 per annum over the next six months, or a monthly pace of around 20,000 per month.”


 


BY JESSICA YUN
Source:  NAB
Wednesday, 31 January 2018
www.investordaily.com.au


 




24th-February-2018
 

Stapleton Group: Suite C, 6 – 8 Floriston Road Boronia VIC 3155 | Phone: (03) 9760 7800 | Fax: (03) 9760 7860