Tag: Treasury

From increased paid parental leave to tax cuts on EVs, there are numerous announcements in Budget 2022 that affect the business community.

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 […]

Government moves to reduce regulatory barriers to challenger banks entering the market should improve access to finance for small business, according to Australian Small Business and Family Enterprise Ombudsman (ASBFEO).  The Ombudsman, Kate Carnell, welcomed news that the Treasury is consulting on proposed changes to the Banking Act, which would remove restrictions on the use […]

The Federal Government’s Public Data Policy Statement, released last December, flagged its commitment to make non-sensitive government data ‘open by default’, with the aim being to stimulate innovation and drive productivity improvements across all sectors of the economy. Nearly a year on, a slice of data with huge potential benefits for the small business community, if […]

The Rudd government has today announced that it will make no major changes to superannuation tax policy for a period of five-years – if they’re re-elected to government.

Labor’s fiscal stimulus policy at the height of the global financial crisis will net the Federal Government an additional $16 billion in tax receipts from those who would have otherwise been unemployed.

Treasurer Wayne Swan has warned against expectations of a budget surplus despite the global recession economic recovery as tax receipts continue to be depressed.

The Federal Government has removed the bank large deposit and wholesale funding guarantee established to stabilise banks due to the Global Financial Crisis.