Pulse Alert – News Pulse for May 15, 2019

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

COSBOA rates major party policies

Wondering how the major parties’ small business policies compare? COSBOA Council of Small Business Australia, the association representing Australian small business ( yes there is such a thing! ), has put together a table so you can see the similarities and differences between Liberal and Labor’s policies on a variety of issues affecting small business including  tax, red tape, late payment, competition, contracts and justice, wages, energy, infrastructure and NBN, access to finance, industry specific policies, vocational education and training, export markets, and mental health.

Nationwide, small business owners make up 14 percent of voters and will be critical in marginal electorates like Corangamite and Wentworth.

Fair Work Commission decision looms as minimum wage campaign heats up

Business lobbyists and unions are gathering in Melbourne this morning for final consultations before the Fair Work Commission (FWC) hands down a decision on the pay rate for Australia’s lowest-paid workers.

With the federal election less than a week away, the annual hearing is particularly politically charged this year, with Opposition Leader Bill ShortenHon Bill Shorten MP,  Federal Member for Maribyrnong Leader of the Opposition from 13.10.13 writing to FWC president Iain Ross requesting a “real increase to award rates”.

How Does Australia’s New Consumer Data Right Work? – Privacy Protection – Australia

The Situation: The Australian Government has introduced the Consumer Data Right (“CDR”). The CDR will allow individual and business consumers to access data on their own consumption of goods and services.

The Result: The CDR will enable consumers to direct custodians to share their data with accredited entities that have “satisfactory security and privacy safeguards” in place. This will increase competition between businesses.

Labor to ‘get cracking’ on entrepreneurs’ council for startups

Labor has pledged to give startups an active role in advising government if it comes to power, with shadow minister for the digital economy Ed Husic telling founders the party wants to “get cracking” on developing an entrepreneurs’ council.

Planning is already underway for the creation of an entrepreneurs’ council, which shadow treasurer Chris Bowen has championed for a number of years.

Labor to ‘get cracking’ on entrepreneurs’ council for startups

Labor has pledged to give startups an active role in advising government if it comes to power, with shadow minister for the digital economy Ed Husic telling founders the party wants to “get cracking” on developing an entrepreneurs’ council.

Planning is already underway for the creation of an entrepreneurs’ council, which shadow treasurer Chris Bowen has championed for a number of years.

Federal election 2019: Bill Shorten under pressure to back ACTU’s call for wage rise

The Australian Council of Trade Unions is ramping up pressure on Bill ShortenHon Bill Shorten MP,  Federal Member for Maribyrnong Leader of the Opposition from 13.10.13 to back its demand for a 6 per cent minimum wage hike this year, as the Labor leader vows to immediately push for a boost to wages if elected.

ACTU president Michele O’Neil will describe the peak body’s proposed $43-a-week increase – almost double the amount awarded last year – as “modest” when she addresses the Fair Work Commission’s wage panel on Wednesday.

Brokers urged to help SMEs face election headwinds

SME lenders are calling on brokers to help small businesses access finance to help them grow their business through disruptions such as the federal election and a changing credit landscape.

Fintech lender OnDeck Australia recently undertook a survey of 430 small and medium-sized enterprises and found that almost six out of 10 businesses (59 per cent) think that major political events, such as elections, negatively impact their business.

ATO seeks to pre-fill quarterly BAS data

The Tax Office has revealed that it is looking to “streamline” the process of business activity statements for business owners by pre-filling much of the data.

During the My Business Live webcast on transitioning to Single Touch Payroll (STP), ATO Australian Taxation Office assistant commissioner and program lead John Shepherd (pictured) said the move to pre-populate data onto the quarterly BAS is one of many options being explored on the back of the new payroll reporting system.

Tips, comments or suggestions? Let me know in the comments, send me an email or tweet me @simeonduncan.

0 Comments

Leave a reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.