News Pulse for July 4, 2018

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

Small businesses ‘don’t trust’ energy companies

Small business owners say they don’t trust energy retailers as new figures show business electricity bills are spiking compared to last year.

Businesses in South Australia, the ACT and NSW have seen the largest price increases, while Tasmanian prices have dropped.

Shock of the new job generators

One of the major differences between Australia and America is that our pattern of employment is vastly different to the US. That difference is now dramatically accelerating and catching out many service and product marketers plus governments. The latest victim is none other than opposition leader Bill ShortenHon Bill Shorten MP,  Federal Member for Maribyrnong Leader of the Opposition from 13.10.13, although his counterparts in the government also don’t fully understand the implication of the change.

Both the US and Australian governments have been patting themselves on the back for engineering employment growth but these growth rates have been achieved in very different ways, although in both countries services are generating much more employment than the production of goods.

Vic to boost gig economy worker rights

Workplace protections for Uber Eats drivers and Deliveroo riders are set for a boost as part of changes to be introduced by the Victorian government.

Industrial Relations Minister Natalie Hutchins is on Tuesday expected to announce changes to bring workers with digital delivery platforms under the Owner Drivers and Forestry Contractors Act.

It’s now easier than ever for hot tech talent to move to Australia

Australian innovators are officially on the hunt to lure top tech talent after the Turnbull government’s new visa pilot program was switched on yesterday.

The new visa, issued through the Global Talent Scheme, replaces the popular 457 visa scheme which ended in March, and sits under the controversial Temporary Skill Shortage (TSS).

What are the benefits of the new overseas GST

The federal government’s decision to apply GST to low-value items worth under $1,000 imported to Australia from international websites may convince more Aussies to shop local, according to latest research.

According to the research released by payments solution provider Adyen, Aussie shoppers say their online shopping habits will change as a direct result of the new GST tariff (in effect as off Monday 2 July) – and their allegiance may swing back to local retailers.

Aussie start-up Trade Ledger launches in Europe, appoints two key officers | Markets Insider

The world’s first corporate open banking lending platform, Sydney -based start-up Trade Ledger , has today announced the opening of its new European operation headquartered in London , and the appointment of two key management positions to help drive the expansion.

Roger Vincent will step into the newly-created Chief Innovation Officer role to head up UK operations, after serving for many years as Head of Innovation at Equifax UK and pioneering their international Open Banking strategy.

Lisa Callaghan will move from the role of accountant to Chief Financial Officer at Trade Ledger’s Sydney office, after representing technology start-ups from inception through to early fundraising as a partner at Interactive Accounting.

Aussie fintech Airwallex secures $109 million in the biggest capital raise of 2018 so far 

Australian fintech startup Airwallex has secured the biggest local venture capital raise of the year so far, raising $108.93 million ($US80 million) in its Series B funding round, but co-founder and chief operating officer Lucy Liu says she’s not focusing on the figures.

Founded in Melbourne in 2015, Airwallex provides a platform for cross-border payments for businesses, with foreign exchange rates in line with inter-bank rates.

‘ATO operates its systems to target revenue collection’: Kate Carnell

Staff-based performance targets aimed at pushing individual tax officers to collect revenue is causing the Australian Taxation Office to lack a fair approach to small business, says Australian Small Business and Family Enterprises Ombudsman (ASBFEO) Kate Carnell.

The submission, obtained under Freedom of Information laws, was made by Ms Carnell’s office to the Treasury review announced in early April by Revenue and Financial Services Minister Kelly O’Dwyer, following allegations of the ATO Australian Taxation Office’s unfair treatment of small businesses uncovered in a joint Fairfax/ABC Four Corners investigation.

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