Taxing issues

As the end of the financial year nears, SMEs across the country are getting nervous about the passage of the $20, 000 instant asset write-off scheme in Parliament which has only four sitting days remaining on the calendar before July 1.

But as Minister for Small Business Julie Collins told SmartCompany, there will be no respite from this annual tradition of extensions, for now.

There’s another EOFY scheme that’s making consumer advocates jittery, with accountancy giant H&R Block and pay advance provider Beforepay offering customers advance payments of up to $1,000 from their income tax return.

We also had the news of a draft ‘right to disconnect’ proposal put forth to the FWC by Australia’s peak trade union that has drawn the ire of industry groups, and in Neural Notes, Tegan spoke with an Aussie startup using its AI tool to address infertility in men.?

Speaking of startups, our weekly funding round-up saw eight Australian innovators raise a collective $36 million, including $244,500 for Melbourne-based organic cotton brand Bhumi which recently opened two retail stores in Victoria and NSW. Here’s hoping the sun shines a little brighter for you today.?

Mrinaal Datt

Production Editor, SmartCompany