News Pulse for March 5, 2018

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

Company tax cuts good for nation

IT STRIKES me that many people are now going out of their way to oppose modest company tax cuts simply because they’re caught up in the anti-business firestorm raging across the nation.

Businesses are not perfect. Nor are they villains. We cannot dispute the contribution small, medium and large businesses make to Australia. They create and support the jobs of 10 million Australians, help keep rural and regional towns afloat, innovate, and pay more than $70 billion in company taxes a year to help fund the services we all want and need.

Airbnb honeymoon nearing its end as councils push for regulation

Over the past four years, David Sharp has opened his Cottesloe home to hundreds of guests, renting out two units at the back of his block.

“You meet so many interesting people,” said the 60-year-old professional handyman, who was inspired to join Airbnb after trying it out on a trip to New York.

Tax reform needs to go beyond company tax cuts

Colin and Marisa Pasquale embody the entrepreneurial spirit and drive to succeed, common among Australia’s small business community.

Operating for more than 16 years, their company, Compas Transport, has rapidly grown to become one of regional Australia’s most in-demand, independent freight businesses.

Stick to core values: US exec

A prominent Silicon Valley chief executive, Intuit’s Brad Smith, has warned that the world’s business and political leaders must pursue the benefits of globalisation and American companies should stick to their “core values” to help overcome the uncertain political environment in the US.

Mr Smith made the comments during a visit to Intuit’s Sydney office, which has 140 people, part of the accounting and financial management software company’s 8000-strong global workforce. They came before US President Donald Trump’s decision to slap tariffs on steel and aluminium imports. Intuit, which owns QuickBooks and TurboTax along with several payroll products, is listed on the Nasdaq with a $US43 billion ($55.4bn) market capitalisation and last year was named by Fortune as the one of the world’s top 50 companies to watch.

‘Turnbull, stop treating us like mugs. Show us your plan’

Prime Minister Malcolm TurnbullThe Hon. Malcolm Turnbull MP, Federal Member for Wentworth Prime Minister from 15.9.15 and his shouty Treasurer Scott MorrisonThe Hon. Scott Morrison, Federal Member for Cook Treasurer from 21.9.15 are very fond of talking about their “economic plan”. Australians hear a lot about this plan and the benefits it’s delivering, such as the creation of 403,100 jobs last year.

However, one might be hard pressed to find the particular component of “the plan” responsible for delivering all these jobs. In fact, one might be hard pressed to find the plan itself. For there is no plan as most people would understand the word to mean.

Face it, it’s just not working

THOUSANDS of full-time jobs across Queensland remain unfilled because unemployed job snobs do not want to get their hands dirty when they can get easy money from the taxpayer.

JBS Australia, one of the largest meat processing companies in Australia, is struggling to fill 300-plus jobs in Brisbane and Ipswich, while farmers and mum-and-dad business owners are forced to hire foreign workers just to keep their livelihoods afloat.

MYOB footprint over Cremorne

Accounting software developer MYOB is poised to become the biggest employer in “Silicon Richmond,” the hot technology focused office precinct in Cremorne.

MYOB will have more than 1000 staff in the riverside location, under the iconic Nylex clock, when it moves 570 staff out of an office in suburbaReserve Bank of Australia www.rba.gov.aun Glen Waverley that opened less than three years ago.

Tips, comments or suggestions? Let me know in the comments, send me an email or tweet me @simeonduncan.

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