Pulse Alert – News Pulse for November 6, 2018

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

Experts warn 7A tax law changes will cost business thousands

Small businesses across Australia could soon be forced to fork out thousands of extra dollars, with experts warning a proposed tax law change could retrospectively alter the payment terms for a popular kind of business loan.

“All of a sudden, at a time when businesses are already stressed, there will be an added uncertainty,” says Ashley Davidson, executive director of private business and individuals at Pitcher Partners.

PM says no ‘policy paralysis’, interventions to continue

Prime Minister Scott MorrisonThe Hon. Scott Morrison, Federal Member for Cook Treasurer from 21.9.15 used a recent Asia Society of Australia Q & A session to reassure the nation that the government has no concerns about ‘policy paralysis’ leading up to the election.

During a fireside chat with Bloomberg presenter Haidi Stroud-Watts in Sydney, the PM replied to a question about whether he was worried that the government might not be able to get anything done in the six months leading up to the election.

Data61 releases draft open banking API

The CSIRO’s Data61 division has released a ‘working draft’ of the standards that will underpin the new Consumer Data Right regime.nnOnce the CDR regime has begun, a business in a CDR sector will have to make available in a machine-readable format a range of data about a consumer’s use of their services. Consumers will be able to choose to share their data with accredited third parties.

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