Finance Archives - SmartCompany

New eligibility test, updated rules for SMEs in revamped Export Market Development Grant scheme

David Adams — Wed, 14 Aug 2024 06:01:11 +0000

The federal government's latest Export Market Development Grants (EDMG) round will open to small businesses in November, and Trade Minister Don Farrell is urging SMEs to understand the new-look eligibility criteria ahead of time.

The post New eligibility test, updated rules for SMEs in revamped Export Market Development Grant scheme appeared first on SmartCompany.

Rob Heferen’s first ATO corporate plan: “Increased focus” on businesses debts and a new SME blueprint

David Adams — Wed, 14 Aug 2024 02:20:58 +0000

The Australian Taxation Office is pledging an "increased focus" on lingering business debts while preparing a new, multi-year program to improve small business tax performance.

The post Rob Heferen’s first ATO corporate plan: “Increased focus” on businesses debts and a new SME blueprint appeared first on SmartCompany.

“Pile of new red tape”: Coalition pushes to disallow controversial rules for tax practitioners

David Adams — Tue, 13 Aug 2024 23:43:25 +0000

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.

The post “Pile of new red tape”: Coalition pushes to disallow controversial rules for tax practitioners appeared first on SmartCompany.

Silver lining: Sunset Lover founders raise $1 million to save 73-year-old Adelaide knitting mill

Morganne Kopittke — Mon, 12 Aug 2024 23:44:35 +0000

The capital raise marks a potential comeback for the knitting mill, with Dean and Melanie Flintoft, who founded the sustainable brand Sunset Lover in 2021, securing the assets of Silver Fleece from liquidators on August 9.

The post Silver lining: Sunset Lover founders raise $1 million to save 73-year-old Adelaide knitting mill appeared first on SmartCompany.

Cauldron books $4.3 million Industry Growth Program grant to expand hyper-fermentation facility

David Adams — Mon, 12 Aug 2024 01:36:51 +0000

Australian biomanufacturing startup Cauldrom Ferm has secured $4.3 million in the first round of Industry Growth Program funding, helping the operation scale its signature 'hyper-fermentation' system.

The post Cauldron books $4.3 million Industry Growth Program grant to expand hyper-fermentation facility appeared first on SmartCompany.

What the FX? Small business lobby calls on ACCC to “act now” on money transfer reform

David Adams — Fri, 09 Aug 2024 01:55:09 +0000

It should be far easier for small businesses to determine whether their international money transfer service offers a good deal, COSBOA says, after the ACCC found SMEs could lose hundreds of dollars each time they use costly providers.

The post What the FX? Small business lobby calls on ACCC to “act now” on money transfer reform appeared first on SmartCompany.

Sole traders are under pressure, but the tide is turning to digital tax tools

Nicole Kelly — Wed, 07 Aug 2024 00:19:10 +0000

It’s time Australian sole traders took tax matters into their own hands, and the technology is there for the taking.

The post Sole traders are under pressure, but the tide is turning to digital tax tools appeared first on SmartCompany.

“Conditions are extremely tough”: Senator David Pocock urges Labor to expand asset write-off to help small businesses

David Adams — Wed, 07 Aug 2024 00:00:52 +0000

Early signs point to yet another parliamentary showdown over the instant asset write-off scheme, as both Coalition senators and independent crossbencher Senator David Pocock say the small business tax break should expand beyond the government's latest proposal.

The post “Conditions are extremely tough”: Senator David Pocock urges Labor to expand asset write-off to help small businesses appeared first on SmartCompany.

Accountants welcome last-minute reprieve from new tax rules, but fear extra costs and red tape

David Adams — Tue, 06 Aug 2024 23:43:30 +0000

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'.

The post Accountants welcome last-minute reprieve from new tax rules, but fear extra costs and red tape appeared first on SmartCompany.

The 2023-2024 tax season, by the numbers

David Adams — Tue, 06 Aug 2024 23:25:55 +0000

We collate a handful of the key figures related to personal and business tax returns, and some of the more esoteric figures linked to the new financial year.

The post The 2023-2024 tax season, by the numbers appeared first on SmartCompany.