Pulse Alert – News Pulse for May 8, 2019

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

‘Great on paper’: Small business cautiously backs Labor’s new job tax cut

Tommy McIntosh, co-founder of catering business Tommy Collins by Atlantic Group, is cautiously welcoming Labor’s new job tax cut for small business, announced on Sunday.

“Everything is great on paper, but how it rolls out is another thing,” Mr McIntosh said. “The idea for most businesses is they want to employ the best person for the job.”

 

‘A nine per cent pay increase’: Super reform to hit small business payrolls

Small businesses have been told to prepare for a possible extension of super guarantee payments for workers earning less than $450 a month with the impact expected to be significant.

Superannuation experts warn payment compliance will be a key issue this year  and say a Labor party policy to remove the threshold at which employers have to start paying super is not well known in the business community.

 

ACT govt policies ‘working against’ businesses

The Canberra small business community’s confidence in the ACT government has plummeted amid concerns about rising taxes and a perception it favors the top end of town, a new survey has found.

The Canberra Liberals have seized on the results of the latest quarterly Sensis Small Business Survey, claiming it is evidence the Barr Government is out of touch with small business.

 

Morrison’s $158b tax cut faces Senate block

The Coalition will face an uphill battle to legislate its long-term tax cuts should it win the election , with the Senate crossbench either unsupportive of the cuts or demanding big spending favours in return.

With Labor opposed to stages two and three of the cuts, and the Greens opposed to the lot, the government may be forced to split the package to legislate the first and possibly second stage of the cuts, which are due to come into effect from July 1, 2019 and July 1, 2022 respectively.

 

Aussie SME confidence falls on fears of slowing economy

The March Quarter 2019 Sensis Business Index, released Tuesday 7 May 2019, reveals Australian small and medium business (SMB) confidence fell significantly across the country during the first quarter of the year as concerns about the health of the economy grew.

The report, which measures SMB activity, expectations and confidence over a three-month period, found small and medium business (SMB) confidence levels decreased 16 points to +34, its lowest level since March 2016.

 

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