Pulse Alert – News Pulse for August 7, 2019

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

How MYOB tackled one whopping customer pain point with a new Aussie tech startup

Adopting a freshly minted document and data extraction technology is enabling MYOB to tackle a whopping big customer pain point while improving SMB tax time compliance, its product chief says.

The accounting software vendor partnered this year with Aussie tech startup, Sypht, to take on the latter’s artificial intelligence-powered data extraction software and is now offering it to MYOB Essential and Accountright customers.

Data-sharing can take the pain out of shopping around

When it comes to saving money, one of the most common bits of advice you will read in the personal finance section of a newspaper is to get out there and “shop around.”

The reason this advice is so common is that it’s generally true. Competition only works well if customers are prepared to take their business elsewhere. Even so, there’s one rather large problem with all this: shopping around is pretty tedious.

‘Small business commission should be part of IR reform’

A dedicated small business division should handle unfair dismissal claims to try to reduce employers settling cases with “go away” money, a review has recommended.

Small Business Ombudsman Kate Carnell released a report on Tuesday that called for the Morrison government to make more than a dozen changes to the Small Business Fair Dismissal Code after finding it was too complex and “not operating as intended”.

“Not working”: Fair dismissal code reforms target go-away money cases

An overhaul of the Small Business Fair Dismissal Code that would redefine and clarify the circumstances where firms can fire workers fairly has been recommended by the Australian Small and Family Enterprise Ombudsman (ASBFEO).

Releasing the results of a review into the controversial code on Tuesday morning, small business ombudsman Kate Carnell said current regulations governing small business dismissals are confusing, outlining 15 recommendations she says will help fix the system.

Kate Carnell has called for a new small business division within the Fair Work Commission

Small Business Ombudsman Kate Carnell has called for a new small business division within the Fair Work Commission, but backed off a push to cut the maximum compensation paid to unfairly sacked workers.

Ms Carnell today unveiled a series of proposed changes to the Small Business Fair Dismissal Code, explicitly denying they were designed to make it easier for small employers to sack workers.

NAB backing small businesses to grow

Small business customers will soon be able to accept fast and secure contactless payments using the latest tap-on-phone innovation.

NAB Executive General Manager, Transaction Banking, Andy Kerr said NAB was excited to trial the new tap-on-phone technology which would support small businesses and sole traders across Australia to provide cash-less solutions for customers.

Changes needed to the fair dismissal code

COSBOA Council of Small Business Australia has acknowledged the Australian Small Business and Family Enterprise Ombudsman’s review of the Small Business Fair Dismissal Code, released today. COSBOA Council of Small Business Australia strongly supports the recommendations made by the review.

Peter Strong, CEO of COSBOA Council of Small Business Australia, echoed the misgivings about the current code made by the Ombudsman, Kate Carnell.

“Small Business Fair Dismissal Code does not work”

The Australian Small Business and Family Enterprise Ombudsman, Kate Carnell, has handed down a comprehensive review of the Small Business Fair Dismissal Code, recommending a suite of changes to help small business employers meet their obligations.

“Put simply, the Small Business Fair Dismissal Code in its current form, is not working in the way it was originally intended,” Ms Carnell said.

MGA supports proposals for reform of Small Business Dismissal Code

The Australian Small Business and Family Enterprise Ombudsman (ASBFEO) today released proposed changes to the Small Business Fair Dismissal Code (the Code).

Jos de Bruin, CEO of MGA Independent Retailers, welcomed the initiative of ASBEFO, Kate Carnell, in proposing the need for a revised Code for the thousands of small businesses that find themselves caught up in the current complex and expensive, time- consuming unfair dismissal system that affects thousands of small, family businesses.

Macquarie says ATO data would help verify income

Macquarie says banks should be allowed to use data held by the Australian Taxation Office to help verify customers’ income, if customers consent to such access, illustrating how banks are looking for ways to enhance their confidence to lend amid the responsible lending crackdown which has restrained credit growth.

Ben Perham, head of personal banking at Macquarie, says the government should consider extending its new “‘consumer data right”, which passed the Parliament last week , to public sector data sets such as income information held by the ATO Australian Taxation Office. This would help banks check they aren’t being duped by borrowers overestimating their earnings to get bigger loans.

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

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