SMALL BUSINESS – GOVERNMENT POLICY – AUSTRALIA

Small business in line for big win

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Original article by David Crowe, Emily Ritchie
The Australian – Page: 5 : 9-May-17

A tax deduction that is popular with small business owners is due to expire on 30 June 2017. The "instant" deduction is able to be claimed against capital costs of up to $A20,000, and was first introduced by the Australian Labor Party in 2012. Peter Strong from the Council of Small Business Australia says he is hopeful that Treasurer Scott Morrison will announce an extension to the tax deduction in the May 2017 Budget.

CORPORATES
AUSTRALIAN LABOR PARTY, COUNCIL OF SMALL BUSINESS ORGANISATIONS OF AUSTRALIA LIMITED, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE

Workers promised fair new industrial regime

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Original article by Phillip Coorey, Ewin Hannan
The Australian Financial Review – Page: 4 : 28-Jan-16

Federal Employment Minister Michaelia Cash has promised that all parties would be consulted on the proposed changes to industrial relations laws. She said on 27 January 2016 that the protection of workers’ rights will not be compromised. In her view, workers need a "strong safety net." The Federal Government is considering the introduction of enterprise contracts for medium-sized businesses.

CORPORATES
AUSTRALIA. DEPT OF EMPLOYMENT, AUSTRALIAN LABOR PARTY, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, AUSTRALIAN GREENS, ACTU

Tax breaks to lift borrowing

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Original article by Clancy Yeates
The Australian Financial Review – Page: 18 : 18-May-15

The Commonwealth Bank of Australia (CBA) expects more small businesses to take out loans as a result of the Australian Government’s May 2015 Budget. CBA’s Clive van Horen says the $A5.5bn small business package should boost the confidence of small businesses and provide them with the incentive to invest in new equipment. However, TS Lim of Bell Potter says that even with the tax breaks, many small businesses will be reluctant to increase their debt.

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, BELL POTTER SECURITIES LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Keeping it in the family on wane

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Original article by Tim Boreham
The Australian – Page: 16 : 6-Oct-14

Australian Small Business Minister Bruce Billson will on 6 October 2014 issue new research by accounting firm Pitcher Partners. The study of 500 small enterprise owners from the baby boom generation shows that fewer than half aim to roll out succession plans that ensure the assets will be held by their children. This compares with an average 65% for the other 56 nations surveyed. Another finding is a growing trend among those who do want family ownership to consider female offspring as well as male

CORPORATES
PITCHER PARTNERS CORPORATE ADVISORY PTY LTD, AUSTRALIA. DEPT OF INDUSTRY

Market power laws ‘ludicrous’

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Original article by Phillip Coorey, Nassim Khadem
The Australian Financial Review – Page: 1 & 4 : 6-Aug-14

The National Press Club has heard from Wesfarmers CEO Richard Goyder, also chair of the Business 20 forum advising the Australian Government. His company owns major retailers Coles and Bunnings, and he rejected plans to extend section 46 of the Australian Consumer Law to small business operators in order to protect them against market dominance by large corporations. Goyder threatened that his group’s tax payments of $A1.5bn per annum and employment of 200,000 local jobs could be reduced, if it adopted the profit shifting strategies of overseas-based rivals such as Aldi or CostCo

CORPORATES
WESFARMERS LIMITED – ASX WES, COLES GROUP LIMITED, BUSINESS 20 (B20), GROUP OF TWENTY (G-20), AUSTRALIA. DEPT OF INDUSTRY, ALDI STORES SUPERMARKETS PTY LTD, COSTCO WHOLESALE AUSTRALIA PTY LTD, WESFARMERS BUNNINGS LIMITED, NATIONAL PRESS CLUB (AUSTRALIA), BORAL LIMITED – ASX BLD, WOOLWORTHS LIMITED – ASX WOW, HIGH COURT OF AUSTRALIA, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, BANK FOR INTERNATIONAL SETTLEMENTS. BASEL COMMITTEE ON BANKING SUPERVISION