“Pile of new red tape”: Coalition pushes to disallow controversial rules for tax practitioners
The Coalition will seek to reverse a set of new and highly controversial rules for tax practitioners, arguing they will impose unnecessary red tape on accountants and bookkeepers.
Accountants welcome last-minute reprieve from new tax rules, but fear extra costs and red tape
Accountants and bookkeepers have welcomed a last-minute reprieve from eight new obligations scheduled to begin in August, but feel more should be done to shield small practices from further 'red tape'.
Small business narrowly avoids losing $940,000 in payment redirection scam
An Australian small business narrowly avoided losing almost $940,000 to a single payment redirection scam, Bendigo Bank says, highlighting the importance of double-checking invoice details before firing off payment.
Petition against “unfair and unworkable” tax agent rules attracts 2,000 signatures
A petition against "unfair and unworkable" changes to the rules governing tax agents has closed with more than 2,000 signatures, calling on Assistant Treasurer Stephen Jones to reconsider the August 1 shake-up.
Optus outage: Federal government urges compensation for small businesses
Compensation for small businesses hit by yesterday's Optus network outage "has to be on the table," Financial Services Minister Stephen Jones says, as entrepreneurs across the country deal with the aftermath of lost sales and severed communications.
ASIC squashes 2,500 scam websites with new take-down powers
The corporate cop has taken down more than 2,500 investment scam and phishing websites in the past four months alone.
Australia is finally getting crypto regulation, with exchanges being targeted
Australia is finally getting crypto exchange regulation, with Assistant Treasurer Stephen Jones detailing the proposed new rules on Monday.
Stephen Jones explains one way Australian businesses could get cheaper insurance premiums
Insurance premiums could fall if insurers did a better job of recognising the disaster mitigation efforts taken by their policy-holders, Assistant Treasurer and Minister for Financial Services Stephen Jones said.
Scrapped: Business registry modernisation scheme halted after projected $2.3 billion blowout
It was meant to slash costs and complexity for Australian businesses. Instead, the federal government has scrapped the Modernising Business Registers program, owing to billion-dollar blowouts, crushing delays, and a significant underestimation of the task at hand.
Tattoo BNPL platform INKPAY collapses, claiming new credit regulations will cut too deep
INKPAY, a buy now, pay later platform dedicated to tattoos has collapsed into administration, after claiming the cost of new regulations which treat BNPL like a traditional credit product will be too much to bear.
BNPL products like Afterpay will now have similar regulation to credit cards
After years of scrutiny, BNPL products such as Afterpay will now be regulated under The Credits Act. Assistant Treasurer Stephen Jones announced the move on Monday.
Crypto and blockchain were missing from the budget despite continued need for regulation
Cryptocurrency and blockchain weren't to be found anywhere in the 2023 budget papers, even regarding regulation, and we can't find out why.
