Pulse Alert – News Pulse for April 10, 2019

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

ACCC stays course on Open Banking

The Australian Competition and Consumer Commission will push ahead to support the planned Open Banking trial from July, despite the fact that the bill setting out consumer data rights has lapsed.

The government introduced the Treasury Laws Amendment (Consumer Data Right) Bill 2019 in February but it had not made any progress through Parliament by the end of last week, when Parliament sat for the last time before the election.

New tax sweetener could see small biz lose out to bigger rivals

After passing both houses last week , the bill to increase the instant asset write-off threshold to $30,000 and expand its eligibility to businesses with turnover of $50m received royal assent in recent days. This was a budgetary measure from the Morrison government.

The changes have been largely touted as a win for small business, but for senior manager at accounting network RSM, Tracey Dunn, it looks to be a bigger win for medium-sized businesses.

Press Release: COSBOA Release: Unnecessary and complicated compliance draining Small Businesses

With the Federal election looming, the Council of Small Business Organisations Australia (COSBOA Council of Small Business Australia) has launched a campaign; Fair to Small Business, Good for Everyone , which is calling for Governments to employ sensible policies to help small business people to get back to business.

In Australia, more than 2 million small businesses employ over 4.7 million people. Small businesses create jobs, support local sports groups, donate to charities, give to the diggers, bolster regional economies and take pride of place in our community and in our society.

Unnecessary and complicated compliance draining small businesses

Small business council (COSBOA Council of Small Business Australia) launches ‘Fair to Small Business, Good for Everyone’ campaign.

With the Federal election looming, the Council of Small Business Organisations Australia (COSBOA Council of Small Business Australia) has launched a campaign; Fair to Small Business, Good for Everyone , which is calling for Governments to employ sensible policies to help small business people to get back to business.

In Australia, more than 2 million small businesses employ over 4.7 million people. Small businesses create jobs, support local sports groups, donate to charities, give to the diggers, bolster regional economies and take pride of place in our community and in our society.

But, COSBOA Council of Small Business Australia says that overly complex policies and regulation compliance is still restricting small business, and a one-policy-fits-all model will not work.

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