Finance

Get to know the latest business and finance news across Australia with My Business’ Finance category. This category aims to teach business owners how to finance their business via its repository of financial management resources and articles.

This category focuses on providing relevant information regarding business financials to both new and seasoned business owners through articles that cover topics such as business taxes, business loans, investments and financial regulation.

It also assists businesses to keep up with the latest developments in the business finance sphere, providing expert insights that take apart the complexities of finance and allowing readers to gain a thorough understanding of finance, taxes and loans.

Banks approving 94% of business loans: ABA

The majority of businesses is shying away from seeking finance despite the Australian Banking Association claiming that 94 per cent of all SME loans ...

30 Aug 2019

‘R&D Incentive problematic for years’: ATO Commissioner

ATO Commissioner Chris Jordan has admitted that “structurally, there is a problem” in relation to the R&D Tax Incentive, a day after a review ...

5,000 businesses could be hit by tax debt disclosures

Around 5,000 businesses will potentially be impacted by the government’s proposal to allow the disclosure of business tax debts to credit reporting ...

Audit activity to intensify after tax gap revelations

The government’s crackdown on the black economy is set to intensify in the wake of the small business tax gap report, with the Tax Institute suggest...

ATO’s R&D clawbacks to be scrutinised

“A number of complaints” from SMEs about unfair treatment by the ATO and AusIndustry in clawing back “millions” in R&D Tax Incentives have...

Small business ‘has been warned’ over unpaid taxes

Small businesses should consider themselves warned over unpaid taxes in light of the ATO’s tax gap findings, an accounting body suggested, amid cal...

‘We predict savings of $10,000 per year’

A new tool designed to help SMEs reduce their energy costs has been formally launched, with one business suggesting that as a result of using it, “w...

Small businesses bigger tax dodgers than corporates

New analysis by the ATO has revealed the size of tax gaps across various sectors of Australia’s economy, and found that small businesses account for...

ATO to use ‘unprecedented visibility’ to chase SG

A pilot program that nudges employers to pay their Superannuation Guarantee will soon be rolled out to the wider business population, as the ATO seeks...

Proposed tax debt disclosure to end ‘unofficial ATO bank’

Government plans to allow the ATO to disclose business tax debts to credit reporting bureaus could spell the end of businesses using the Tax Office as...

ATO eyes foreign income as offshore data rolls in

Taxpayers are being urged to come clean this tax time, with the ATO now in receipt of financial account information of more than 1.6 million offshore ...

SME directors ‘may be personally exposed’

The proposed extension of the director penalty regime to GST liabilities could spell the end of the corporate veil for SME directors, an insolvency sp...