AGP Executive Report
Last update: an hour agoCard payment costs: Labor is under pressure after the ATO’s planned credit-card payment ban was delayed until June 2027 following small-business backlash. The separate ban on card surcharges is already in force, leaving businesses to absorb processing fees or raise prices; a minister has called for banks to bear those costs. Cash losses: Counterfeit banknotes hit an eight-year high, with 40,613 detected in the year to March. Small businesses report losses and are turning to UV checkers and staff training. Jobs and pay: SMB employment rose 0.8% in September, its strongest monthly gain since May, but annual wage growth slowed to 2.2% from 4.5% in August. Trust tax: A proposed 30% minimum tax on family and discretionary trusts has raised concerns for small businesses that use them for asset protection; the draft offers an exemption for trusts with fixed distributions.
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