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CreditorWatch Blog

More Resources to Support Small Business Growth Have Been Launched

More Resources to Support Small Business Growth Have Been Launched

An industry-first Business Funding Guide that aims to help Australian small businesses tackle the funding crisis has been launched. The guide is primarily aimed at SME trusted advisors like accounts receivables and financial modelling professionals to help small business owners find the right funding and increase their likelihood of having funding approved. The guide was […]

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Tax Debt Transparency Back in Parliament

Tax Debt Transparency Back in Parliament

Would you like to know when a customer has a significant tax debt with the ATO? A government proposal to allow the ATO to share information about business tax debt to credit bureaus like CreditorWatch was re-introduced to parliament this week. The legislation would improve the ATO’s ability to address the $10 billion small business […]

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Legislation introduces Director Identification Numbers in push for modernising data

Legislation introduces Director Identification Numbers in push for modernising data

Legislation introduced in the House of Representatives on February 13th, has the aim of modernising business data and introducing Director Identification Numbers (DINs). Currently, data is stored in various systems across different departments and agencies. As a result, registrants bare the inefficiency of a cost burden when meeting their obligations. This in turn, makes it […]

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End of Financial Year Planning 2018: Business Considerations

End of Financial Year Planning 2018: Business Considerations

With 30 June 2018 fast approaching, now is a good time to ensure your year-end strategies are in place. In doing so, it is worthwhile considering the following list of ‘Business Considerations’. Base rate entities From 1 July 2017, the tax rate for companies that meet the definition of a “base rate entity” is 27.5%. […]

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Transparency of tax default data is a win for small business

Transparency of tax default data is a win for small business

Knowing that a business doesn’t pay their bills is incredibly important for anyone in the position of providing trade credit; it is the sole reason that thousands of businesses access credit bureaus in an effort to mitigate risk and safeguard their cash flow. The question is why should knowing that a business has defaulted on […]

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The SuperStream deadline (28 Oct) won’t be pushed back again, small businesses warned

The SuperStream deadline (28 Oct) won’t be pushed back again, small businesses warned

Businesses with 19 or fewer employees have less than two weeks to transition to SuperStream – the new, mandatory electronic standard for paying superannuation contributions.    “The Australian Taxation Office (ATO) is pleased that more than 75 per cent of small businesses are already SuperStream compliant however, there is still a way to go to ensure […]

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Data dungeon: the small business case for making ANZSIC code information available

Data dungeon: the small business case for making ANZSIC code information available

Dynamic Business interview with Colin Porter, CreditorWatch. 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 […]

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Getting your finances in order for EOFY

Getting your finances in order for EOFY

The end of the financial year can be a stressful time for small businesses, especially if your finances aren’t completely in order. Unfortunately, that’s an all-too-common situation. A recent Xero survey found that three-quarters of Australian small businesses still store their receipts in shoeboxes. With the average Australian business churning through 100 receipts and invoices […]

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