Tag: ASBFEO

The Australian Small Business and Family Enterprise Ombudsman (ASBFEO) has provided preliminary support for a Discretionary Mutual Fund

The Australian Small Business and Family Enterprise Ombudsman, Kate Carnell, has released a position paper identifying ways to reduce the complexity of the workplace relations system for small businesses. “We have had significant consultations with small businesses over the last two years and the overwhelming view is the legislation is far too complicated for the […]

Australian Small Business and Family Enterprise Ombudsman, Kate Carnell, has encouraged business owners to urgently contact her office if they have experienced “heavy handed tactics” by the Australian Taxation Office. The Ombudsman, together with the inspector-General of Taxation Ali Noroozi, has been directed by the Treasury to examine cases of unfair conduct the ATO. The investigation, […]

The Australian Small Business and Family Enterprise Ombudsman, Kate Carnell, has commenced an inquiry into international initiatives designed to address the funding gap for small to medium sized enterprises (SMEs). [Related: Small Business Ombudsman calls for Govt to consider UK approach to boosting SME finance, Major barriers to SME investment explored by new report from […]

The Australian Securities and Investments Commission (ASIC) has released a report detailing changes made by the big four banks to remove unfair terms from their small business loan contracts of up to $1 million. The report, Unfair contract terms and small business loans, also provides detailed guidance to bank and non-bank small business lenders about compliance with […]

The passage of legislation establishing the Australian Financial Complaints Authority (AFCA) will result in small businesses having access to “free, fast and binding” dispute resolution, according to Small Business Minister Craig Laundy. The Treasury Laws Amendment (Putting Consumers First – Establishment of the Australian Financial Complaints Authority) Bill establishes a one-stop shop for the resolution […]

The Australian Small Business and Family Enterprise Ombudsman, Kate Carnell, has encouraged small businesses that have suffered from ‘questionable conduct’ by the banks to tell the Royal Commission into misconduct in the banking industry, now underway. Regarding the Royal Commission, Carnell told Dynamic Business that she’d like to see small businesses share examples of “scenarios […]

A Senate committee has deemed it ‘wholly appropriate’ that employers pay a levy to access overseas workers; however, the Australian Small Business and Family Enterprise Ombudsman, Kate Carnell, considers this “another blow” for small businesses. [Related article: Federal Budget: foreign worker tax introduced] In October, last year, the Federal Government introduced the Migration Amendment (Skilling Australians […]

The benefits small businesses derive from a competitive financial system are being reduced by the regulators in their “quest for stability”, the Productivity Commission (PC) has found. The finding, contained in a draft PC report titled Competition in the Australian Financial System, is supported by the Australian Small Business and Family Enterprise Ombudsman (ASBFEO), Kate […]

The Institute of Public Accountants (IPA) has called for the Federal Government to improve the financial outlook of SMEs by introducing a loan guarantee scheme and legislating maximum payment times for business-to-business transactions. In its 2018 pre-Budget submission, the IPA – a professional accounting body representing 35,000 accountants, business advisers, academics and students – made […]