Pulse Alert – News Pulse for March 22, 2019

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

Labor promises bank fund to sideline payday lenders

Labor will contribute $60 million over the next four years to try to sideline payday lenders and provide cheap and fast credit to the needy if it is elected.

The money, which will come from the $640 million Banking Fairness Fund that will be funded by a levy on banks, will be used to bolster the services of low-cost lenders who help people on welfare who need quick loans.

Businesses are using parking to ramp up revenue

The new Parkable app is making use of empty business spaces

A new shared economy platform is connecting businesses and people who have vacant parking spaces with people looking for parking… and businesses are making the most of it.

Businesses are able to list their vacant parking spaces on a very flexible basis using the new innovative app and earn extra income on the side, rather than having unused in-demand spaces going to waste. It’s another example where technology is enabling businesses to make more profit, but this time it’s all about thinking very much outside of the box (well, the office at least).

Personal assets face tax overhaul

Tax treatment of personal assets in Australia could be about to change in a very major way — one that might just bring holding ­assets in company structures into the mainstream.

A federal election looms in May and the favourite in the race — the ALPAustralian Labor Party www.alp.org.au — has flagged two key changes to taxation of personally held investments.

Manikay puts MYOB takeover in jeopardy

Manikay Partners is edging closer to blocking the takeover of business management software provider MYOB (ASX: MYO) as it acquires more of the Australian company.

Hedge fund Manikay now owns 14.93 per cent of MYOB, up from just 9.9 per cent two weeks ago. In order for the takeover of MYOB by Kohlberg Kravis Roberts & Co (KKR) to pass 75 per cent of the total number of votes cast must be in favour of the takeover.

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