Mark my words podcast | Business News

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PODCAST: Dan Wilkie and Matt Mckenzie discuss the ongoing impacts of coronavirus, new economic data, positivity in property, a Liberal Party reshuffle, Andrew Forrest’s investments, King Street exodus, the fashion festival, a Roy Hill contractor goes under, and a special report on junior miners.

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Telangana Budget: Govt to spend Rs 10,000 cr on Hyderabad infra in 2020-21

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Telangana government has proposed a whopping Rs 10,000 crore for the development of Hyderabad among other significant outlays, including Rs 11,917 crore for weaker section housing and Rs 6,225 crore towards phase-1 farm loan waiver on top of other big allocations to the existing flagship welfare and development programmes made in the annual budget for the year 2020-21.


The bigger and more public spending plans comes on the back of an anticipated rebound in the own tax and non-tax revenue as the government has proposed more than 27 per cent increase in budget expenditure at Rs 1,82,914.42 crore for the year 2020-21 with a revenue surplus of Rs 4,482 crore. The fiscal deficit was pegged at Rs 33,191 crore.



It may be recalled that the state government had slashed its annual expenditure estimate to Rs 1,46,544 crore in the full budget for the year 2019-20, which was approved in September 2019, from a similar level of Rs 1,82,016 crore proposed by chief minister K Chandrasekhara Rao government during the vote-on-account budget passed in February 2019, citing the economic slowdown.


Even though the state government expects a meager 4.62 per

Three Infosys employees with IT dept held for taking bribes from taxpayers

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Three employees, attached to the Income Tax department’s Centralised Processing Centre here, were arrested for allegedly taking bribes from tax-payers for speedy processing of their refund, police said on Sunday.


According to police, the key accused among the three was attached to the CPC’s data division and had demanded and collected money through his friends from some major taxpayers with whom he had contact over phone for processing their I-T refund claims at the earliest.



He would allegedly charge them four per cent of the refund money as his commission, they added.


Recently, one of the taxpayers refused to pay the money and shared the audio recording of his conversation with the accused with Income Tax officials who held an internal enquiry and then approached the police.


The Electronics City police have registered a case of cheating and criminal breach of trust against them.


The police suspected the trio might have made about Rs 15 lakh so far as commission from taxpayers.

Financial New Year’s Resolutions for small business owners

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The first thing on any business’ New Year’s to do list is getting their finances organised for the upcoming year.

Whether it’s preparing to expand your workforce or scale your business, every company wants to make this year their best.

Tax expert and Director of Online Tax Rebates, Tony Mills, provides actionable advice to help you manage your business’ finances better in 2019.

Stay on top of cash flow

Managing cash flow is one of the basic principles of doing business but it’s actually one of the biggest cause offailing SMEs.

It may sound obvious but keeping an eye on your finances means you can spot any potential cash flow issues before they arise and figure out how to manage them. Be clear with clients on payment terms – it’ll help you forecast cash flow, so you’re never left short. Also, consider adding late payment charges as an extra level of insurance for your business.

Managing books doesn’t have to be the arduous manual task it used to be. There are plenty of online resources available to help you plan your finances. Accounting software gives you a wider view of your financial future to make planning for the

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