Small business incentives to drive demand for commercial property
Property group CBRE is forecasting increased confidence among small business owners stemming from the Government's cut to the tax rate, will fuel expansion.
In a post-Budget release the group expressed confidence that the Budget would not "shock the economy" or damage business confidence.
"Given that small businesses account for 96 per cent of businesses in Australia, about one-third of the GDP and 4.5 million employees, the overall effects are expected to filter through to bigger businesses servicing those smaller businesses," CBRE reported.
"Giving more income to a such a broad part of the economy will pervade the economy in terms of consumption and provide support to equipment investment in the near term.
"If the Government's expectation for the economy is realised (which isn't too dissimilar to our view), then business will gradually become more confident and begin to invest more broadly in expansion."
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Policy and advocacy specialist Benjamin Marshan has left the Council of Australian Life Insurers after less than a year, having joined in March from the Financial Planning Association of Australia.
The declining volume of risk advisers meant KPMG has found a rising lapse rate for insurance policies arranged by independent financial advisers, particularly in the TPD and death cover space.
The Life Insurance Code of Practice has transferred from the Financial Services Council to the Council of Australian Life Insurers.
The firm has announced it will no longer be writing new life insurance policies in the retail advised and corporate group insurance channels, citing a declining market and risk adviser numbers.
