The Australian Small Business and Family Enterprise Ombudsman, Kate Carnell, has urged small businesses to urgently prepare for the introduction of mandatory data breach reporting laws that come into effect from today 22 February. “If an unauthorised entity accesses anyone’s personal information from a business computer system, where it is likely to result in serious harm to that individual, that data breach will have to be reported to the Office of the Australian Information
Consumers and small businesses are being exploited for utilising the convenience of tap-and-go, according to the Australian Small Business and Family Enterprise Ombudsman, Kate Carnell. Ms Carnell was speaking in support of a parliamentary committee recommendation for banks to reduce “tap and go” transaction fees. The House of Representatives Standing Committee on Economics recommended that banks let merchants send tap-and-go payments from debit cards through eftpos instead o
For the first time in Australia, firms with market power will now need to carefully consider whether the conduct they engage in, or propose to engage in, could be interpreted as being designed to lessen competition. The changes are part of the Competition and Consumer Amendment (Misuse of Market Power) Bill 2017 approved by the Senate on 14 August 2017. Implementation is not expected until early 2018. Australian Small Business and Family Enterprise Ombudsman, Kate Carnell, we
Businesses in Cabramatta, Liverpool, Fairfield and surrounding areas will be targeted in a new compliance and workplace laws crackdown by the Fair Work Ombudsman. At least 200 manufacturing, retail, construction and other businesses will be audited by inspectors looking for cases of worker exploitation. Fair Work Ombudsman Natalie James, said that with many workers engaged in low-skilled labour and coming from culturally and linguistically diverse backgrounds, the workforce i
The Small Business Association of Australia Summit has agreed that the current Tax System needs significant change, is a complex minefield for Small and Medium Enterprises (SMEs) and in most cases, a major cause of small businesses failures.
The Summit, on the Gold Coast, featured small business owners and representatives from the ATO, Fairwork Australia and Small Business & Family Enterprise Ombudsman, Kate Carnell, AO. Discussion centered on the over-complication of the
Small business changes announced in the 2015-16 budget are now law. The following changes apply from 1 July 2016: 27.5% company tax rate for small businesses. The maximum franking credit that you can allocate to a distribution is also 27.5%. If you have lodged early, see below for more information. 8% small business income tax offset (up to $1,000) limited to businesses with a turnover of less than $5 million. It applies only to business income for sole traders, or share of b