Fall in online job ads - We are in Recession

I don't understand why pollies are wasting crucial time in debating whether we are in recession or not. You don't have to be genius to figure out that we are already in recession and we have been in recession for past 6 months.

What we are seeing now is fall out of recession. The recent media coverage about drop in online job ads is one such fall out. The Oliver job index which claims to record the number of jobs advertised online states that there have been big falls in advertisement numbers for jobs in the trades, services, transport, engineering, building and construction sectors.

I'm not an expert like Oliver Group but I've been checking online jobs for past 6 months in retail sector in which I've considerable experience and I can tell you that the situation there is pretty bad. We all know that Retail employs most Australians and it also happens to be one of the low income sectors.

Now do your own calculations. We are in a situation where the lowest paid are loosing jobs and the number of new jobs that are coming up are far less then what it use to be.

I clearly remember Mid 2007 when I was looking to recruit people and it was bloody hard as there were so many opportunities that employees were hopping from one job to another because they were not scared. They knew that even if they leave one job they can find the next easily. I also clearly remember that seek.com.au which is considered one of the biggest online job search website had its profit and share prices up.

But look what is happening now? You don't have to believe in what I'm saying. Just search seek or mycareer or whatever else you use and you will know what I'm talking about.

Sydney's west enjoys property boom

Some media outlets are reporting a mini property boom in Sydney's west despite financial crisis. According to the NSW Treasurer it is happening because of surge in first home buyers in areas like Campbelltown, Penrith and Liverpool.

"We're seeing people take advantage of the NSW Government stamp duty concessions and the first home-owners grant to move from rental accommodation into their first home," he told ABC Radio on Saturday.

Read more @ Sydney Morning Herald

Sign a simple online petition

I urge everyone to spare 2 minutes to sign this important petition. If we don't do anything now then it's only time before everything will be lost. Our future is at stake, Sign the petition and bring the change. There is no point in just thinking about it..it's time to do something.

http://www.gopetition.com.au/online/25902.html

*Reduce Business Tax from 30% to 20%
*Give Relief to small Business so they can maintain their cash flow
*Government grants should be increased for small business
*More jobs should be created to fight increasing unemployment

Tax Relief is what we really need

It seems federal governments stimulus packages are really not working. As Peter Costello said last night on Q and A that this whole global economic meltdown started because some people were spending a lot of money which they didn’t really own and the Rudd government is trying to fix this problem by actually doing the same thing. Government handed billions in payments last year which had little impact on the economy and it wants to hand out more money now. Almost on a daily basis we are hearing news about people loosing jobs and companies moving offshore. I’ve lived in Australia for about 7 years and in that whole time I only heard news about boom and more jobs. I agree we are in a huge financial crisis but I believe the present government is making it worse by actually handing out free cash. Government is handing out this cash believing that people will spend it thereby creating more work but people are so scared of times ahead that almost everyone will and is trying to save it for rainy days. This is why these packages won’t work.

Instead of free cash, the government should provide tax relief to both the business sector and families. Tax relief is more likely to help in stimulating the economy as it will give an incentive to work more. More work with less tax = More money in everyone’s pocket.

Especially for the small business sector, tax relief will help long way. It will keep the cash flow going and this is what businesses really need.

Finally, a couple of days ago some good news came in. Small businesses struggling with the economic crisis will get tax relief through a 20 per cent reduction in their pay-as-you-go (PAYG) obligations. This tax relief is just one initiative; the government must definitely reduce the corporate tax rates and cut many other different kinds of taxes.

No stimulus package will take us anywhere. All we need is three things

1.) tax relief

2.) tax relief and

3.) tax relief

Australia should emulate Singapore

In the whole Asia-Pacific region there is no more pro business country then Singapore. Not only it encourages free trade and commerce it provides lower taxes which is helping its economy in many ways. Even though its such a Tiny country but despite that it is home to some of the biggest companies in the world. I think SingTel is one such example. Singtel owns mobile networks in many countries including Australia with its OPTUS brand. India, which is emerging no.1 market in mobile communications also has SingTel connections. Largest mobile operator of India is Bharti Airtel with more than 82 million subscribers is partially owned by SingTel.

Singapore

* Zero tax for new Singapore companies on the first 100K annual profits for the first 3 years
* All companies to enjoy approx. 9% corporate tax rate for profits up to 300K
* Overall company tax rate lowered to flat 18%

The corporate tax rate for all new and existing companies with tax filing from 2008 onwards year has been reduced to flat 18% with the following additional tax exemptions and incentives designed for small-to-midsize companies:

Full Tax Exemption
Full corporate tax exemption will be granted on normal chargeable income of a qualifying company up to $100,000, for each of its first three consecutive tax filing years.



I believe Australian govt. should also do the same and reduce business taxes in Australia.

With some information from :- AsiaBiz