#Michael Mccormack
New Deputy PM Michael McCormack pushing for cabinet to reabsorb small business ministry
Former Small Business Minister Michael McCormack has been sworn in as the Deputy PM, having secured the leadership of the Nationals in the wake of Barnaby Joyce’s resignation. According to Fairfax, McCormack has signalled he will seek to reverse the Turnbull Government’s decision to move the small business ministry to the cabinet in 2015. […]
Cabinet reshuffle: new Small Business Minister appointed, Jobs & innovation portfolio created
A cabinet reshuffle has been announced by Prime Minister, with Michaelia Cash named Minister for Jobs and Innovation, and Craig Laundy promoted to Minister for Small and Family Business, Workplaces and Deregulation. Cash, formerly the Minister for Employment and Women, assumes responsibility for a new portfolio focused on jobs creation as part of her reassignment. […]
Turnbull Government paying 60% of its small business invoices within 20 days, report shows
Federal Government agencies are paying 96% of their small business contractors within thirty days of receiving an invoice, according to a new report. Minister for Small Business, Michael McCormack said the latest Pay On-Time report also found agencies were paying 60% of invoices up to $1 million within 20 days, and that the overall results […]
Government to help small businesses digitise, go global with revised $18m advisory program
To help small businesses get online and reach new markets through digital platforms, the Federal Government has overhauled its Australian Small Business Advisory Services (ASBAS) program, Minister for Small Business Michael McCormack has announced. McCormack said the redesigned program will allocate $18 million in grants over three years to specialist advisers who will engage with […]
The Federal Government commits to paying small businesses ten days sooner by July 2019
The Federal Government will begin paying small business suppliers ten calendar days sooner to improve their cashflow, it has been announced. Under the Government’s revised ‘pay on time’ policy, Small Business Minister Michael McCormack said federal agencies and entities will be required to pay invoices for contracts worth up to $1 million within 20 calendar […]
One in two small businesses relying on new protections against unfair contract terms
A survey of 1280 SME operators has found that nearly half (49.6%) had relied on unfair contract terms legislation, implemented last year, to negotiate fairer terms with big businesses during the past six months. Conducted by East & Partners, the SME Transaction Banking survey also showed that nearly four in five respondents (78.2%) were aware […]
Competition law reforms now in effect will level the playing field for small businesses
Reforms to the Competition and Consumer Act 2010, which took effect this week, will level the playing field between small and big businesses while providing consumers with increased choice and better services in the market place, according to Small Business Michael McCormack. Commenting on the commencement of the Competition and Consumer Amendment (Competition Policy Review) […]
The $20,000 instant asset tax write-off has been used by 300,000 SMEs, says Federal Government
Nearly 300,000 small businesses have taken advantage of the Federal Government’s $20,000 instant asset tax write-off scheme, according to 2015-16 tax office data. The data was revealed by Minister for Small Business Michael McCormack, who described the instant asset write-off program as a “shot in the arm” for small businesses. “The instant asset write-off is […]
PM addresses concerns about Govt’s small business agenda following cabinet reshuffle
Nationals MP Michael McCormack replaced Kelly O’Dwyer as Minister for Small Business in this week’s ministerial reshuffle, which saw the PM defending his decision to remove the small business portfolio from the cabinet. During a press conference on Monday, where he announced McCormack as the Minister for Small Business in the Treasury Portfolio, Malcolm Turnbull was […]