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Coronavirus SME Guarantee Scheme is being expanded

If you’re a small or medium-sized business owner in need of an affordable loan then we’ve got good news: the federal government is expanding the Coronavirus SME Guarantee Scheme to allow businesses to borrow more and for a wider range of purposes. The scheme, which is in phase one until September 30, allows lenders to provide eligible SMEs unsecured loans of up to $250,000 for up to three-year terms. It’s had good traction too, with more than 15,600 businesses accepting…...
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New code to protect Aussies buying solar panels

Ever thought about investing in solar panels for your home? If so, you’ll know it’s a big decision and there’s a lot to wrap your head around. Fortunately, the consumer watchdog is proposing a new retailer code to make solar purchases safer and easier. Australia is the sunniest continent on Earth. Yep, even more so than Africa. Which is why it makes sense that more than two million homes have already decked out their rooftops with solar panels. Sure, the…...
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Time’s ticking: ATO to report overdue tax debts to credit agencies

Businesses that put off paying large tax bills for too long may soon find that the Australian Taxation Office (ATO) has notified credit reporting bureaus. The proposal is part of The Treasury Laws Amendment (2019 Tax Integrity and Other Measures No.1) Bill, which was recently introduced into parliament. The Bill will provide the ATO with the discretion to disclose to credit reporting bureaus when a business has a debt of $100,000 for 90 days or more. “This will reduce the unfair…...
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