News Pulse for April 10, 2017

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

Why small businesses are in trouble

Small businesses want the Australian Securities and Investment Commission and the Australian Competition and Consumer Commission to investigate the practice of big businesses offering loans to small businesses.

The Council of Small Business Australia has called for an investigation by the regulators into global giants pushing out payment times to small businesses and then offering the same small businesses loans to keep them afloat.

Just how uncompetitive is Australia’s tax system?

Who needs economic modelling when you can go down to the local watering hole and run your brilliant idea past some inebriates propping up the bar?

Treasurer Scott MorrisonThe Hon. Scott Morrison, Federal Member for Cook Treasurer from 21.9.15’s parrying of Labor demands that he produce the numbers that spelled out the economic benefit of the Government’s tax cuts to small business wasn’t elegant.

Cloud a cure for Australasian tech’s stunted growth, says Xero CEO and start-ups

Public cloud services have removed the historic barriers that stymied the global ambitions of Australasian companies, Xero’s CEO Rod Drury said yesterday.

Speaking as part of a panel of cloud-first businesses at the Amazon Web Services summit in Sydney, Drury explained that in the past, companies in the region were often forced to sell out if they were to succeed.

JPMorgan boss says cutting wages is bad for business

At first blush, ACTU secretary Sally McManus and one of Wall Street’s most powerful bankers, Jamie Dimon, would seem unlikely allies on the key battlefield of industrial relations and pay.

In her so far short tenure leading Australia’s trade unions, Ms McManus has made it clear she has little time for neo-liberal, market-focused economics and trickle-down wealth creation.

ATO spotlight turns to Gorgon

Fresh from issuing $2.9 billion in bills in a blitz largely targeting the tech sector, the tax office is closely scrutinising Australia’s biggest ever resources project, the $60bn Gorgon field off the coast of WA.

It is believed the ATO Australian Taxation Office is examining the financing of the project, which is helmed by Chevron with joint venture partners Shell and ExxonMobil.

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