More than 9,000 small businesses object to ATO decisions on JobKeeper, business cashflow boost
Posted
SunSunday 20
updated
SunSunday 20
DecDecember 2020 at 9:37pm
Small businesses that could have missed out on payments due to the ATO s errors include cafés and restaurants.
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More than 9,000 small businesses have objected to the Australian Taxation Office s (ATOs) decisions to deny them coronavirus stimulus payments including JobKeeper and the small business cash flow boost, the tax ombudsman says.
Key points:
The tax ombudsman says the ATO has made errors in determining whether small businesses are eligible for JobKeeper and the business cashflow boost
Australian Small Business and Family Enterprise Ombudsman Kate Carnell.
Small business groups want this week’s economic update from the federal government to include a greater commitment to small business procurement, flexible loans and more economic data to help SMEs recover from the economic fallout of the pandemic.
The Mid-Year Economic and Fiscal Outlook (MYEFO), to be released on Thursday by Treasurer Josh Frydenberg, is expected to show an improvement on the federal government’s bottom line by more than $10 billion.
Speaking to
SmartCompany, small business advocates say they are not expecting anything near the $1 billion the Treasurer has already pledged to aged care. What they do want to see, however, is the federal government procure more goods and services from small businesses, consideration of revenue contingent loans and better data.
ACCC says Woolworths proposed $552 million acquisition of food distributor PFD could restrict competition
Posted
TueTuesday 15
updated
TueTuesday 15
DecDecember 2020 at 2:28am
Woolworths would gain PFD s 26 distribution centres and a majority stake in the private company if the deal is approved.
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The Australian Consumer and Competition Commission (ACCC) says a $552 million acquisition by Woolworths of privately owned PFD Food Services could give the supermarket giant too much bargaining power and reduce consumer choice.
Key points:
The ACCC is concerned the merger will restrict choice for food manufacturers and lessen competition between independent supermarkets
The Australian Small Business ombudsman Kate Carnell said allowing the merger to go ahead would make Woolworths too powerful against smaller supermarkets
Date Time
Ombudsman backs ACCC’s concerns over Woolworths’ PFD tilt
The Australian Small Business and Family Enterprise Ombudsman Kate Carnell says the ACCC is rightly concerned about Woolworths’ proposed acquisition of 65% of PFD Food Services Pty Ltd.
In October, the Ombudsman wrote to the ACCC to formally oppose the $552 million deal, saying it would be detrimental to small businesses in the food distribution space and the economy more broadly.
“We share the ACCC’s competition concerns as detailed in its preliminary statement ahead of its final decision next year,” Ms Carnell says.
“My office has made it clear to the ACCC that the proposed deal would likely add to Woolworths’ already substantial bargaining power in its dealings with food manufacturers.
The Australian Small Business and Family Enterprise Ombudsman
Ombudsman welcomes landmark insolvency reforms
The Australian Small Business and Family Enterprise Ombudsman Kate Carnell has welcomed the passage of legislation, overhauling the national insolvency framework.
The legislation, which comes into effect from 1 January 2021, will make it easier for small businesses to restructure or wind up and are in line with the Ombudsman’s Insolvency Practices Inquiry final report released in July.
“These landmark reforms will give otherwise viable small businesses a chance to recover and prevent a wave of unnecessary insolvencies,” Ms Carnell says.
“It’s an absolute game-changer for small businesses, particularly those that have been heavily impacted by the COVID crisis.