Category Archives: Finance Back

“Biggest compliance undertaking since GST”: Everything you need to know about the new single touch payroll laws

Legislation to extend single touch payroll (STP) reporting to businesses with less than 19 employees passed the Senate on Wednesday. The changes were expected to get through, but their passage through the Senate brings the reality of STP reporting for Australia’s smallest businesses to the fore. Businesses will technically be required to be complying with … Read more

Moody’s forecasts “modest” earnings growth in 2019

Ratings agency Moody’s sees good opportunities for exporters and resources companies this year from a weaker Australian dollar, along with “modest earnings growth” for corporates and a low appetite for increased debt. Moody’s Investors Service forecasts the earnings growth will be supported by GDP growth of around 2.8% and the continuation of accommodative monetary policy settings. … Read more

Big banks welcome government competition for small end of town

Australia’s biggest banks insist they welcome the prospect of looming lending competition from the federal government’s proposed $2 billion small business loan plan. Under the policy unveiled by Treasurer Josh Frydenberg on Wednesday the government will establish a $2 billion securitisation fund which it will use to buy pools of small business loans from smaller banks and … Read more

‘The system is broken’: government poised on small business fund

The Morrison government is flagging imminent action to ensure lending to small business continues as bank funding tightens further in the wake of the financial services royal commission. Small business minister Michaelia Cash told Fairfax Media the banks appear to have tightened their lending to smaller companies. “What is consistently raised with me is access to finance,” … Read more