News Pulse for June 13, 2018

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

Budget invests millions in jobs, small business and training

The PalaszczukThe Hon. Annastacia Palaszczuk (pr. Pal-a-shay), Premier of Queensland and Minister for the Arts from 16.2.2015 Government has announced an allocation of $1.1 billion in the 2018-19 State Budget for the Department of Employment, Small Business and Training to support a strong training system and promote small business and jobs growth.

Minister for Employment and Small Business and Minister for Training and Skills Development Shannon Fentiman said it was a top priority to help more Queenslanders gain skills and access opportunities to participate and prosper in the economy.

Optus now has an innovation workspace at the Sydney Startup Hub

Optus has opened an innovation workspace in the Sydney Startup Hub.

The telco had NSW Minister for Innovation Matt Kean at the York Street hub on Tuesday to open the new venue, which will see Optus collaborate with startups and SMBs to develop solutions to address the challenges faced by the small business.

The Optus Innovation Hub will operate as an extension to the Optus SMB Yes Business platform by physically connecting startups with the technology and expertise.

What can Australia learn from the UK’s Open Banking experience?

Australia could usefully learn from the UK’s introduction of Open Banking, according to a member of the OpenID board.

Ping Identity senior technical architect and OpenID board member Sarah Squire explained that Open Banking UK takes advantage of OpenID, and that open banking was one of the concepts that made OpenID desirable.

Breaking Down Borders For Victoria’s Small Businesses

The Andrews Labor Government has announced a new project to simplify cross-border regulations and make it easier for small businesses in hospitality, taxi services, heavy vehicles and trades to do business in NSW.

At a multi-government event in Wodonga today, Victorian Minister for Small Business Philip Dalidakis announced that he will work with Federal Minister for Small and Family Business Craig Laundy and NSW Minister for Small Business John Barilaro to get the project off the ground.

The project will cut red tape so small businesses in Victoria and NSW can work easily across the border.

Queensland Budget delivers for small businesses

The PalaszczukThe Hon. Annastacia Palaszczuk (pr. Pal-a-shay), Premier of Queensland and Minister for the Arts from 16.2.2015 Government has set out its commitment to Queensland small business owners and entrepreneurs that will grow this important sector in the coming 12 months.

Minister for Employment and Small Business Shannon Fentiman said the Queensland Budget provided grants to assist businesses to start and grow, funding to help them train and employ, and continued efforts to streamline regulation and reduce the cost of doing business.

Banks reject misconduct claims in small business lending

Westpac, National Australia Bank and Commonwealth Bank have denied breaking the law through various dealings with small business customers that were explored in last month’s royal commission hearings.

However, the banks have admitted some of the behaviour put before the commission’s hearings on small business last month was unfair, and that there were breaches of the industry code of conduct.

Unlockd calls in administrators

Australian mobile advertising start-up Unlockd has gone into voluntary administration, making it the latest high-profile local technology outfit to run into turbulence

Unlockd, which delivers targeted advertising to users when they unlock their smartphones, has been locked in a do or die legal struggle with Google since April, which forced the company to shelve its planned IPO.

Big four defend small business lending as business as usual

The big four banks have continued to push back against allegations of misconduct in small business lending, making only the smallest of concessions of wrongdoing in submissions to the Hayne royal commission.

The big four banks robustly defended their respective approaches in response to open findings from counsel assisting, Michael Hodge, QC, who said that while there was no need for additional regulation in the sector, there was evidence the banks had broken the law.

Reforms to address corporate misuse of taxpayer funded Fair Entitlements Guarantee Scheme | Ministers’ Media Centre, Australian Government

The Turnbull Government is committed to putting workers first by ensuring employers pay the entitlements they owe their workers. That’s why the Government will implement changes to stop the corporate misuse of the taxpayer funded Fair Entitlements Guarantee (FEG) scheme.

The Minister for Revenue and Financial Services, the Hon Kelly O’Dwyer MP, and the Minister for Small and Family Business, the Workplace and Deregulation, the Hon Craig Laundy MP, today released draft legislation for public consultation. The draft legislation will strengthen and improve enforcement and recovery options of unpaid employee entitlements to deter misuse of the FEG scheme. This will also ensure the burden on the scheme is relieved so that it remains sustainable.

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