The Australian Taxation Office (ATO) will be empowered to report a business’s overdue tax debts to credit reporting bureaus under draft legislation released by Minister for Revenue and Financial Services, Kelly O’Dwyer. The legislation, which – together with explanatory material – is now available for public comment, will require a business to “effectively engage” with […]
The passage of anti-money laundering legislation through Parliament on Thursday will facilitate further growth in Australia’s local blockchain and digital currency industry, according to local fintech leaders. The Anti-Money Laundering and Counter-Terrorism Financing Amendment Bill 2017 will extend anti-money laundering and counter-terrorism financing regulation to digital currency exchanges. The legislation requires these exchanges to monitor […]
The Turnbull Government has drafted legislative reforms to support investment in innovative fintech companies by venture capital and angel investors, Treasurer Scott Morrison has announced. Released yesterday for a public consultation period ending Friday, 10 November, the exposure draft of the Treasury Laws Amendment (2017 Measures No. #) Bill 2017 proposes amendments to the Tax […]
Every business owner has a responsibility to stay on top of – and comply with – changes to the law in their business operations. The Australian authorities don’t respond well to pleadings of ignorance, especially when it comes to businesses. So, are you aware of the latest changes to data breach notification laws? Do you know […]
These days our mobile phones are an extension of ourselves – we access them for almost everything. With so much time dedicated to the small screen in our hands, it makes sense for start-ups and entrepreneurs to consider launching online-only businesses. There are a number of benefits of being solely an e-commerce operation, particularly from […]
The ACT is set to be the first national capital to regulate online ride-sharing service, Uber, as the service prepares to legally enter the Canberra market from October 30th. According to an ABC report the reforms to ACT legislation will see taxi licences immediately halved from $20,000 to $10,000 in order to ensure the taxi […]
Three measures aimed at supporting small business were introduced yesterday as part of the Government’s $5.5. billion Jobs and Small Business package.
In a big move to crack down on piracy, the Senate has passed legislation that will see infringing websites blocked in Australia.
The Abbott Government has today released a draft legislation put forward to further protect small businesses from unfair contract terms.
Small Business Minister Bruce Billson introduced an amendment to the laws surrounding employee share schemes, a move he said will boost Australia’s start-up sector and drive innovation.
