{"id":10099,"date":"2023-10-31T09:12:43","date_gmt":"2023-10-30T22:12:43","guid":{"rendered":"https:\/\/elementaa.com.au\/?post_type=weekly-digest&#038;p=10099"},"modified":"2023-10-31T09:52:42","modified_gmt":"2023-10-30T22:52:42","slug":"weekly-digest-1-november-2023","status":"publish","type":"weekly-digest","link":"https:\/\/elementaa.com.au\/weekly-digest\/weekly-digest-1-november-2023\/","title":{"rendered":"Weekly Digest \u2013 1 November 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>Australia\u2019s SMEs outshine global peers in latest Xero report<\/h2>\n<p>Recent <a href=\"https:\/\/dynamicbusiness.com\/topics\/news\/australias-smes-outshine-global-peers-in-latest-xero-report.html\" target=\"_blank\" rel=\"noopener\">Xero data reveals the ongoing resilience of Australian small businesses<\/a> despite a deceleration in sales and wages growth. Sales growth remains stronger compared to other XSBI markets.<\/p>\n<h2>Experts say Australia at 1-in-3 risk of hitting recession next year<\/h2>\n<p>A panel of economists questioned by Finder for its RBA Survey have said there is a <a href=\"https:\/\/www.9news.com.au\/finance\/fears-recession-australia-2024-finder-rba-survey\/45e15371-f630-4cca-9a8e-a30c39e7eb53\" target=\"_blank\" rel=\"noopener\">roughly one-in-three chance<\/a> that Australia will find itself in a recession in 2024.<\/p>\n<h2>RBA\u2019s horror rental prediction<\/h2>\n<p>In another cost of living blow, the availability of rental properties is \u201cat critical levels\u201d and the <a href=\"https:\/\/www.news.com.au\/finance\/economy\/australian-economy\/rba-forecasts-rent-inflation-will-continue-to-rise-over-the-next-six-months\/news-story\/1f1895d8de9d895d5b6e7fabb11475e3?from=rss-basic\" target=\"_blank\" rel=\"noopener\">RBA said the situation is unlikely to improve in the short term<\/a>.<\/p>\n<h2>PwC partner at centre of tax advice scandal banned by Asic for eight years<\/h2>\n<p>Australia\u2019s financial watchdog has<a href=\"https:\/\/www.theguardian.com\/business\/2023\/oct\/20\/pwc-partner-at-centre-of-tax-advice-scandal-banned-by-asic-for-eight-years\" target=\"_blank\" rel=\"noopener\"> issued an eight-year ban to a former\u00a0PwC\u00a0partner<\/a> at the heart of a confidentiality scandal that triggered a reputation crisis at the firm and a costly sell-off.<\/p>\n<h2>From Australia to the world<\/h2>\n<p>ANZ, along with the Australian Centre for International Trade and Investment, and the Australian Chamber of Commerce and Industry, have just released the\u00a0<a href=\"https:\/\/www.australianchamber.com.au\/wp-content\/uploads\/2023\/10\/ACCI-National-Trade-Survey-2023.pdf\">2023 National Trade Survey report.<\/a> Australian businesses want to embrace the opportunity of international trade \u2013 but the landscape can often be harder than it should be. There\u2019s a real opportunity for policymakers and industry to work together to <a href=\"https:\/\/bluenotes.anz.com\/posts\/2023\/10\/anz-whelan-trade-obstacles\" target=\"_blank\" rel=\"noopener\">help our home-grown businesses thrive in global markets.<\/a><\/p>\n<h2>Reserve Bank says cash orders have plunged by two-thirds in 3 years<\/h2>\n<p>Commercial bank <a href=\"https:\/\/www.theepochtimes.com\/world\/cashless-society-well-underway-as-cash-orders-plunge-by-two-thirds-5516322?utm_source=Aomorningbriefnoe&amp;src_src=Aomorningbriefnoe&amp;utm_source=Aomb-2023-10-25&amp;src_cmp=Aomb-2023-10-25&amp;utm_medium=Aoemail&amp;cta_utm_source=Aomorningbriefnoecta&amp;est=JggNdBokbLrLfyixPCTH7nEOPXZCvr81MGJ3kVcJKIEvOF07ldJhKDTVSh8V%2By6w\" target=\"_blank\" rel=\"noopener\">cash orders declined two-thirds and cash payments halved<\/a> over three years to 2022, according to the RBA.<\/p>\n<h2>Superannuation beneficiaries need to be considered for when you die<\/h2>\n<p>Superannuation is a major asset in many estates, but many people don&#8217;t realise that <a href=\"https:\/\/www.thesenior.com.au\/story\/8393684\/where-your-super-goes-in-your-estate-needs-careful-planning\/\" target=\"_blank\" rel=\"noopener\">superannuation is not automatically left in accordance with their will<\/a>.<\/p>\n<h2>NAB survey shows Gen Z Aussies are saving up to spend big on experiences<\/h2>\n<p>Gen Z Australians are <a href=\"https:\/\/www.news.com.au\/finance\/money\/budgeting\/nab-survey-shows-gen-z-aussies-are-saving-up-to-spend-big-on-experiences\/news-story\/76128da8423ee5e93a3217e802911be4\" target=\"_blank\" rel=\"noopener\">saving hard to splash out on \u201conce-in-a-lifetime\u201d moments<\/a> as part of a generational move to make up for time lost to the pandemic, according to the latest consumer survey from one of Australia\u2019s biggest banks.<\/p>\n<h2>Australian share market drops to 2023 low as tech stocks plummet<\/h2>\n<p>The Australian <a href=\"https:\/\/www.news.com.au\/finance\/markets\/australian-markets\/australian-share-market-drops-to-2023-low-as-tech-stocks-plummet\/news-story\/0c49b66aa33f8729838cfe9b917e9bf5\" target=\"_blank\" rel=\"noopener\">share market fell to its lowest point of the year<\/a> on Thursday after a mixed result from US tech giants overnight pushed Wall Street lower.<\/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","protected":false},"featured_media":0,"comment_status":"close","ping_status":"closed","template":"","format":"standard","weekly-digest-topic":[],"weekly-digest-type":[],"weekly-digest-region":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Weekly Digest \u2013 1 November 2023 - Element Accountants &amp; Advisors<\/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:\/\/elementaa.com.au\/weekly-digest\/weekly-digest-1-november-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Weekly Digest \u2013 1 November 2023 - Element Accountants &amp; Advisors\" \/>\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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Australia\u2019s SMEs outshine global peers in latest Xero report Recent Xero data reveals the ongoing resilience of Australian small businesses despite a deceleration in sales and wages growth. 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