News Pulse for June 21, 2016

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

NSW Budget: $25 million for new Sydney School of Entrepreneurship

A new Sydney School of Entrepreneurship (SSE) will be established with a $25 million investment aimed at placing NSW at the epicentre of entrepreneurship in the Asia-Pacific region.
The SSE will be a joint venture between NSW universities and TAFE NSW, and is supported by some of Australia’s most successful entrepreneurs.

Payroll tax relief for small businesses to be extended until 2020, SA Government says

Small businesses with a payroll of $1.2 million or less will remain eligible for existing tax concessions, providing relief for up to 2,000 South Australian businesses, the Treasurer says.

Election 2016: Labor pledges $20,000 in tax relief for small businesses that create new jobs – SmartCompany

The federal Labor Party will grant small businesses a tax cut of up to $20,000 as a “reward” for creating new jobs if the party is elected on July 2.

The opposition’s “New Jobs Tax Cut” is designed to encourage small businesses to hire individuals who face difficulties when entering the labour force, including unemployed people aged under 25 or over 55, and parents and carers who are returning to the workforce after more than six months out of work.

Backing Small Business to create local jobs Sunshine Coast

Labor will make it easier for small business to create new jobs.
Under Labor’s New Jobs Tax Cut, small businesses will be able to claim a tax deduction of up to $20,000 per worker to offset the wages of up to five new employees.
Businesses will be able to claim a 40 per cent deduction on top of the amount they can currently claim for their employees.

Rampersand hunts start-ups with new $50m fund

Australian technology start-ups will have a new fund to hit up for financial backing as Melbourne-based Rampersand has filled a significant portion of a $50 million warchest, which it will use to buy into a variety of emerging companies.

Election 2016: Labor to confirm small business tax breaks for new jobs

Labor will deliver its answer to the Government’s “jobs and growth” election pitch today, using its campaign launch to announce a policy that provides a tax break for small businesses hiring new staff.

The policy is designed to create 30,000 new jobs Labor says it will commit $400m to build Sydney’s rail linknnBusinesses will get a $20,000 incentive to hire a mum returning to work, an older job seeker or someone under 25.

Queensland startup Guvera’s future in doubt after $1.3 billion IPO blocked by the ASX

Queensland-based music streaming startup Guvera is “reviewing its legal options” after its $1.3 billion IPO was blocked by the ASX last week.

Only a day after Guvera’s updated prospectus was approved by ASICAustralian Securities and Investments Commission (ASIC) is Australia’s corporate, markets and financial services regulator. asic.gov.au, the ASX took the unprecedented move to prevent the tech company from listing.

Aussie tech start-up Lorna & Bel targets women with smart handbag

BEHOLD the smart handbag.

An Australian technology start-up is targeting women to create an unorthodox fashion empire in what is becoming a growing international market.

How startups and entrepreneurs are working to make life easier for refugees around the world

The number of refugees, asylum seekers and displaced people around the world has exceed 50 million for the first time since World War 2, the United Nations Refugee Agency reports, and more than half of the world’s 20 million refugees are children.

Together with refugees themselves, tech experts, entrepreneurs and social workers are using startup thinking to create solutions to empower and support the millions of people forced to relocate due to natural and man-made disasters.

Uber pickups from CBR Airport in time for direct international flights – Chief Minister, Treasury and Economic Development Directorate

The announcement today that Canberra Airport and Uber have reached an agreement to allow inbound passengers to Canberra to use Uber services from the airport terminal comes just in time for the arrival of direct international flights to the ACT.

Many international travellers will be accustomed to using ride sharing services in other cities around the globe, and this announcement will enhance transport options from Canberra airport once these travellers arrive in our city.

Many Australian start-up founders want to remain down under

For all the benefits of moving to the US, many Australian start-up founders want to remain down under. According to last year’s Startup Muster survey of the nation’s tech community, only 18 per cent of local entrepreneurs intend to move overseas, and even those going offshore keep the bulk of their operations in Australia.

Vow partners with fintech to provide small business lending

Leading aggregator Vow Financial has partner with a fintech platform to help brokers tackle the growing commercial lending space.

The partnership with Valiant Finance was officially launched at the Vow Commercial Conference last week, with the aggregator claiming it will help provide small business lending solutions to its brokers.

Huddle Money raises $6m to create peer-to-peer bank

Sydney-based fintech start-up Huddle Money will emerge from so-called stealth mode this week after securing $6 million backing for its bid to take on traditional banking services with peer-to-peer offers.

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