News Pulse for August 31, 2018

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

How Labor wants to win over Coalition business voters

Small business owners are being framed as the must-win swing voters in the looming federal election, as Labor looks to capitalise on Coalition chaos by establishing a powerful new commissioner to solve tax disputes.

The Coalition is meanwhile flirting with accelerating up to $1.8 billion worth of tax cuts for small businesses before the next federal poll, while Labor has doubled-down on its opposition, telling the business lobby it will not back tax cuts that have not already been legislated.

New Small Business Minister Michaelia Cash turns focus to SME cyber security, maintains big business tax cuts are still “good policy”

Freshly minted Small and Family Business Minister Michaelia Cash has pushed the importance of vocational education and training (VET) for Australian SMEs and turned the government’s policy spotlight to digitisation and cyber security, but she says big business tax cuts are still “good policy”.

Speaking to SmartCompany exclusively at the COSBOA Council of Small Business Australia National Small Business Summit in Sydney today, Cash reinforced the importance of small business and VET being brought together under one portfolio, as she believes the two areas are symbiotic.

Michaelia Cash looks at more tax cuts for small businesses

Further tax reform for small business is on the agenda for the Morrison government with taxation “absolutely always a number one issue”.

Small business minister Michaelia Cash told Fairfax Media on Thursday tax cuts for small business will be part of the government’s policy.

Qld innovation policy reviewed

The Queensland government will review the state’s current innovation policy in a move to ensure any future programs are prepared for future economic, social, and community challenges caused by digital disruption.

Innovation Minister Kate Jones said the ‘Our Innovation Future’ review will whether the state’s $650 million Advance Queensland fund aligns with potential future challenges.

When a smooth ride is critical

Changes of Prime Minister, just like changes of government, can be a fraught time for business. The uncertainty created can be a confidence killer. It is noteworthy that the elevation of Scott MorrisonThe Hon. Scott Morrison, Federal Member for Cook Treasurer from 21.9.15 as Prime Minister represents a smooth transition for the digital transformation agenda.

As Treasurer, Mr Morrison was a friend to the FinTech sector as a means of driving new innovation and better consumer outcomes in the financial services sector. And, importantly, he has been a driving force behind Australia’s planned open banking regime.

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