A daily download of SME, startup, fintech and tax news from around Australia.
This week can be a mad rush to get paperwork in order and plan for the year ahead, but from this Saturday businesses will also be facing a number of legislative changes that could affect how they do business.
With the 2017-18 financial year right around the corner, here are key changes you need to know about.
To encourage employers to harness the skills of Australia’s ageing population, the Federal Government is providing a financial incentive to employers who engage and retain mature-age workers.
Available through jobactive – the Federal Government’s $6.8 billion job placement program – the Restart wage subsidy entitles an employer to up to $10,000 for hiring eligible workers aged 50 and over. Employers can put this subsidy, paid to them over six months by their local jobactive provider, towards training and related costs (e.g. a forklift license, IT courses) and any necessary workplace modifications.
Some Australian real estate agents are updating their rental leases to stop tenants from secretly subletting properties on Airbnb.
Key points: Some real estate agents have updated leases to ban tenants from hosting through Airbnb Landlords say Airbnb guests put extra wear and tear on their properties Airbnb says renters and owners should have the right to share the home they live in
One lease, seen by the ABC, said the tenant must not use Airbnb without the “written consent” of the landlord in each instance.
EXCLUSIVE: Sunday pay for workers in retail, hospitality, fast food and pharmaceutical services will increase from this weekend, despite claims by unions and Labor that employees will be worse off, according to the peak business council.
The Australian Chamber of Commerce and Industry will today release modelling that shows the overwhelming majority of employees in the affected sectors will see a bump in take-home pay on Sunday despite a reduction to penalty rates as decided by the Fair Work Commission earlier this year.
Bill ShortenHon Bill Shorten MP, Federal Member for Maribyrnong Leader of the Opposition from 13.10.13’s pledge to overturn penalty rate cuts for retail and hospitality workers will generate uncertainty, harm job creation and deter “mum-and-dad” operators from extending opening hours, small business chiefs say.
The Opposition Leader, who promised to reinstate penalty rates in a speech to the ACTU’s 90th anniversary dinner on Tuesday, was yesterday condemned for undercutting the authority of the Fair Work Commission and outsourcing wage decisions to federal parliament.
TAX cuts for small business – down to the lowest rate in many decades – backs small businesses throughout the Adelaide Hills to expand and create more jobs, Assistant Agriculture Minister Anne Ruston says.
“Small business is the economic backbone of regional communities like those in the Adelaide Hills,” Senator Ruston said.
Australian design software startup Canva is branching out into the physical world, launching a new print and delivery service.
Canva, which produces software that allows template-based design of visual material like presentations, invitations, menus and social media posts, has started Canva Print in the United States, promising one-click print and shipping within 4 days.
Small business operators are planning to complete their own tax returns, increasingly using cloud solutions rather than relying on older desktop software, according to a new report.
The latest Snapshot report from cloud accounting software provider MYOB shows that 41% of SMEs are planning to complete their tax themselves, up 36% from last year.
It’s not just flashy crims that anti-fraud investigators are watching. The risk of the trusted insider — officials rationalising bad behaviour by a self-assessment of being underpaid and undervalued, or seeking to protect others — is very real, yet the ATO Australian Taxation Office has a very low rate of malfeasance. That’s down to a solid corruption control plan.
Sydney’s romance with conspicuous wealth was on display last weekend with the glamorised media coverage of the release from Cooma jail of convicted insider trader, Oliver Curtis.
An increase in omitted responses during the botched 2016 census has been attributed to system failure and heightened privacy concerns.
Despite an independent assurance panel determining the data is “fit-for-purpose” and can be used “with confidence”, there was a rise in unanswered questions and respondents providing false details, such as expletives in the “first name” field.