News Pulse for October 26, 2016

A daily download of SME, startup, fintech and tax news from around Australia.

Scott Morrison: Company tax cuts proposed by Turnbull Government vital for South Australian businesses to grow and prosper

THE Turnbull Government is backing South Australian businesses to grow and prosper because we know that stronger businesses will employ more South Australians, pay them higher wages and create the economic growth that will secure the state’s future.

The Enterprise Tax Plan we took to the election will back SA businesses and their employees by supporting them to invest more in their businesses.

Paid parental leave changes 2016: Australian female entrepreneurs lose out

THE debate over parental leave double-dipping has not included the mothers who dip out on paid leave entirely — our growing number of female entrepreneurs.

There are around 60,000 small business owners pregnant at any given time and they have to pay for any maternity leave they take after the baby arrives.

Start-ups lead way in job creation

Recent data from the Department of Industry, Innovation and Science shows that start-ups and early-stage companies generated nearly all the 1.6 million new jobs created in Australia from 2003 to 2014.

Given the relatively small size of the Australian market, one of the best ways to scale a young business and exploit that job growth potential is to pursue a global customer base.

Start-up accelerator to target sharing economy

The sharing-economy phenomenon, made famous by the likes of Airbnb and Uber, is about to get a push in Australia with the launch of the country’s first start-up accelerator dedicated to the trend.

The accelerator is the brainchild of four of Australia’s influential sharing-economy experts: Steve Orenstein, the founder and CEO of on-demand express courier service Zoom2u; Alexis Soulopoulos, the CEO and co-founder of Australia’s leading pet-sitting network MadPaws; Will Davies, the CEO of car-sharing and rental service CarNextDoor; and Mike Rosenbaum, CEO and co-founder of self-storage marketplace Spacer.com.au.

Start-up alliance wants changes to R&D Tax incentive scheme to boost investment

An alliance of start-up organisations is pressuring the federal government to introduce enhancement to the R&D Tax Incentive scheme to facilitate greater investment in innovative, high-growth businesses.

The alliance has called on the government to bring in “start-up-friendly”enhancements to the tax scheme which they say is “most effective when directed to startups”.nnThe alliance brings together StartupAUS, StartupWA, StartupTas, TechSydney, Startup Adelaide and Startup Victoria.

Picture begins to emerge during inquiry into Census meltdown

A picture is beginning to emerge of what went wrong during Australia’s Census when denial of service (DDOS) attacks on the evening of August 9 paralysed the system and meant thousands of Australians could not complete their forms online for almost two days.

The Senate Economics Reference Committee hearing today (Tuesday) gave Australian Bureau of Statistics (ABS) top bods a thorough grilling about the events leading up to and on Census night, including how the system was tracked, remedial action taken, communication with the public and reports to Minister Michael McCormack.

MYOB demands users upgrade Microsoft software

In a notice that has been described as unconscionable, Australian accounting software provider MYOB has sent out a notice to its users, asking them to upgrade their Microsoft Windows 7 operating systems and SQL Server database software before the end of the year.

Australian fintech founders recognised as world leaders next to tech giants Stripe, Xero and Square

Nine Australian ventures including Prospa, Tyro and Society One have been listed among the world’s leaders in fintech.

The annual Fintech 100 list , compiled by H2 Ventures and KPMG Fintech, ranks startups and established high-growth ventures from around the world in a top 50 established leaders category and a top 50 emerging stars category.

Aussies sparkle as emerging fintech stars as China dominates

China has cemented its position as the globe’s “fintech” growth engine, taking top spot in an annual snapshot of the burgeoning industry that lauded several Australian start-ups.

A report from venture capital firm H2 Ventures and KPMG names Nine Australian companies as among the world’s leading fintech innovators, including “established” players Tyro and SocietyOne alongside “emerging” start-ups Data Republic and HashChing.

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