News Pulse for May 21, 2018

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

‘Google levy’ linked to tax plan

Malcolm TurnbullThe Hon. Malcolm Turnbull MP, Federal Member for Wentworth Prime Minister from 15.9.15’s chances of getting his corporate tax cuts through the Senate could hinge on a promised crackdown on tax avoidance by global tech giants, with key crossbenchers saying the budgetary impact of a proposed “Google tax” will influence their decision on the $35.6 billion enterprise tax plan.

Centre Alliance senators Rex Patrick and Stirling Griff, whose votes will determine whether the Prime Minister’s signature economic reform becomes a reality, said the proposed crackdown on international technology companies could help secure their support for the corporate tax cuts bill.

Bank inquiry turns to small business loans

There are fears tighter lending standards and any new regulations out of the banking royal commission could make it even harder for small businesses to get loans.

The royal commission is expected to hear about small business owners who have been wronged by banks during a two-week public hearing beginning on Monday.

But small business advocates warn against further regulations, saying lenders are already becoming more risk adverse in the commercial space.

Small business to be the focus of royal commission’s next hearings

The banking royal commission has been big. It’s about to get small.

Small and medium enterprises are the focus of the next fortnight of hearings, beginning on Monday.

MYOB adds Bpay to invoices

Users of the accounting system can now offer another payment option to customers.

MYOB has provided for some time a convenient mechanism for its users to accept invoice payments via credit card. This reduces average payment time from 42 to 10 days, according to the accounting software company.

Dawn of new European privacy era under GDPR poses fresh questions for Aussies

After years of gestation, the new European privacy law is upon us. Privacy’s Age of Aquarius dawns in Brussels next Friday. But so what, for us in the Antipodes?

If you’re a business of any size pitching or selling goods or services into Europe, the General Data Protection Regulation, or GDPR , can apply to you.

Welcome to the wild, wild west of lending

If you thought the banking royal commission’s most sensational hearings – of fraud, bribery and lies – were behind us; think again.

You ain’t seen nothing yet.

From Monday, the spotlight turns on the bank’s behaviour when dealing with their small business clients.

How banks, AMP can regain trust

The royal commission into banking and finance is set to focus on small business next week.

While the banks will be better prepared for this round, once again there will be a volley of examples of bad behaviour.

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


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