News Pulse for June 26, 2018

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

Coalition struggles to get company tax votes

MAJOR company tax cuts appear headed for defeat with the Turnbull government struggling to convince One Nation and the Centre Alliance to back its plans .

The debate yesterday turned increasingly nasty with claims of political bullying, personal attacks and a bizarre spat between Pauline Hanson and Clive Palmer.

Tax time: Business tax deductions are not all equal

Just before the end of the financial year profitable businesses often look for tax deductions that will reduce the income tax that they pay. Depending on whether the business profit is taxed at the company rate or taxed at the individual marginal rates, a better tax result could be achieved by delaying a payment until the 2019 financial year.

Accountancy firms ‘should get forensic treatment at banking inquiry’

Australia’s “big four” accountancy firms should be put under the spotlight of the banking royal commission, according to a British investigative journalist who has written an exposé on their activities overseas.

Richard Brooks said the practices and behaviour of the firms should get the same forensic treatment as the banks.

Labor moves to save worker penalty rates – 9News

The federal opposition wants parliament to restore Sunday penalty rates for up to 700,000 Australians.

Labor leader Bill ShortenHon Bill Shorten MP,  Federal Member for Maribyrnong Leader of the Opposition from 13.10.13 introduced legislation to the lower house on Monday that he says could protect incomes from July 1.

Australian startups now have a code of conduct

A group of venture capitalists has created a Code of Conduct for the Australian startup community.

Blackbird Ventures, Startmate, Airtree Ventures, Square Peg Capital, Rampersand and Blue Sky Venture Capital have been working to draft the code in collaboration with San Francisco-based diversity and inclusion expert Valerie Aurora.

Boot camp for fintech start-ups

Financial services heavyweight Mastercard is leveraging its considerable scale to help fintech start-ups hit the bigtime through its boot camp Start Path.

The five-year-old program, specifically designed for fintechs that have already secured initial investment, selects only 11 start-ups per intake and this year two Australian companies made the cut — identitii and OpenSparkz.

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