{"id":7166,"date":"2023-05-30T10:04:55","date_gmt":"2023-05-30T00:04:55","guid":{"rendered":"https:\/\/ngaa.com.au\/?p=7166"},"modified":"2023-05-30T10:45:48","modified_gmt":"2023-05-30T00:45:48","slug":"business-update-31-may-2023","status":"publish","type":"post","link":"https:\/\/ngaa.com.au\/business-update-31-may-2023\/","title":{"rendered":"Business Update \u2013 31 May 2023"},"content":{"rendered":"

Welcome to our Weekly Digest \u2013 stay in the know with recent news updates relevant to business and the economy.<\/span><\/p>\n

\u2018Most significant\u2019 scam targeting Aussies<\/b><\/h2>\n

Scammers have taken advantage of the secondhand sale market by using a PayID scam to steal over $260,000. The<\/span> scam involves the scammers creating fake PayID accounts<\/span><\/a> and using them to receive payments from unsuspecting buyers. This has caused a hit to the secondhand sale market, as buyers are now more cautious when making payments.<\/span><\/p>\n

Economist warn RBA could lose control of cash rate<\/b><\/h2>\n

An economist has warned that the<\/span> Reserve Bank of Australia (RBA) could lose control of the cash rate if it continues to cut interest rates<\/span><\/a>. This could lead to a situation where the RBA is unable to raise rates to combat inflation, leading to a potential economic crisis.<\/span><\/p>\n

Rising Rental Prices Cause Cost of Living Crisis Across the Nation \u2013 Up to $600 a Week Increase Reported in Some Areas<\/b><\/h2>\n

Rental prices across Australia have been increasing rapidly<\/span><\/a>, with some areas seeing an increase of up to $600 a week. This has caused a cost of living crisis for many Australians, with the situation becoming increasingly dire.<\/span><\/p>\n

At Close of Business May 26 2023 the ASX is introducing a new system<\/b><\/h2>\n

At Close of Business on May 26, 2023, the Australian Securities Exchange (ASX) will be introducing a new system for trading and settlement of securities. This<\/span> new system<\/span><\/a> will replace the existing CHESS system and will provide improved security, efficiency and cost savings for investors.<\/span><\/p>\n

What happens if the Voice referendum fails? Labor urged to have \u2018contingency plan\u2019<\/b><\/h2>\n

The Voice to Parliament referendum is a proposed referendum to give Indigenous Australians a voice in the federal parliament. If the referendum fails,<\/span> Labor is being urged to have a contingency plan in place<\/span><\/a> to ensure Indigenous Australians are still represented in parliament. This could include a parliamentary committee or a legislated body to ensure Indigenous voices are heard.<\/span><\/p>\n

Imagine a long weekend, every week. Are Australians ready for a four-day work week?<\/b><\/h2>\n

Australia is considering introducing a four-day work week<\/span><\/a>, with the same pay, to improve work-life balance and productivity. The proposal has been met with both support and criticism, with some arguing it could lead to job losses and reduced wages. The government is currently exploring the idea and will make a decision in the near future.<\/span><\/p>\n

China makes sensational Australia \u2018hacking\u2019 claim<\/b><\/h2>\n

China has been accused of launching a disinformation campaign against the Five Eyes Alliance<\/span><\/a>, a global intelligence-sharing network. The campaign includes false claims about the alliance\u2019s involvement in the coronavirus pandemic and other issues. China has denied the allegations.<\/span><\/p>\n

The rules for Afterpay, Zip and other \u2018buy now, pay later\u2019 providers are changing. What it means for you, and them<\/b><\/h2>\n

Buy Now Pay Later (BNPL) providers such as Afterpay and Zip are becoming increasingly popular, but<\/span> new regulations are being introduced<\/span><\/a> to protect consumers. These regulations include caps on late fees, limits on spending and more transparency about the cost of using BNPL services. Consumers should be aware of these changes to ensure they are using BNPL services responsibly.<\/span><\/p>\n

Get in touch<\/b><\/h2>\n

Contact us if you have any questions or want to discuss the next steps for your business.<\/span><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Welcome to our Weekly Digest \u2013 stay in the know with recent news updates relevant to business and the economy. \u2018Most significant\u2019 scam targeting Aussies Scammers have taken advantage of the secondhand sale market by using a PayID scam to steal over $260,000. The scam involves the scammers creating fake PayID accounts and using them … Continued<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","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":"\nBusiness Update \u2013 31 May 2023 - NGA Accounting, Sydney<\/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:\/\/ngaa.com.au\/business-update-31-may-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 31 May 2023 - NGA Accounting, Sydney\" \/>\n<meta property=\"og:description\" content=\"Welcome to our Weekly Digest \u2013 stay in the know with recent news updates relevant to business and the economy. \u2018Most significant\u2019 scam targeting Aussies Scammers have taken advantage of the secondhand sale market by using a PayID scam to steal over $260,000. 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