MESSAGE FROM OUR CEO

WARNING ALERT – WannaCry: Small businesses should not delude themselves in believing that the “WannaCry” computer hacking attack only affects big business, that misconception is dispelled by Robert Gottliebsen writing in The Australian, May 17, 2017 under the heading ‘Ransomware cyberattack: small business must be on alert’ warns: “The massive May 2017 global computer hacking attack, termed WannaCry, is a much bigger event than simply the crippling of a few hundred thousand enterprises around the world. . . I believe that it is important my readers are put on alert. And that alert particularly applies to small smaller enterprises, where livelihoods can be destroyed over night without proper back up . . .

Further, SmartCompany, May 16, 2017 reports: ““WannaCry” ransomware hits 12 Australian small businesses,” and suggests: “Four ways to protect your systems.” The report also said: “This morning [16/5] Minister Assisting the Prime Minister for Cyber Security Dan Tehan revealed 12 Australian small businesses had been hit with the ransomware attack, and more are expected to emerge as the week progresses.” (Read reports below)

BUDGET 2017 – SMALL BUSINESS: ˆThe Australian, Sunday (14/5) reported: “Shadow treasurer Chris Bowen has refused to say whether Labor would repeal the legislated company tax cuts for small and medium-size businesses.

And, on Monday (15/5) it reported: “Labor is facing urgent demands to declare support for $29.8 billion of already-legislated small business tax cuts or risk a major blow to Australian competitiveness that will force jobs overseas and deter investment.

Council of Small Business Australia chief executive Peter Strong said “the company tax cuts have got to stay” amid confusion over whether a Labor government would unwind the Coalition’s tax breaks for companies with more than $2m annual turnover.

“You can’t sit there and write a business plan when you’re not sure if it’s going to be in place or not,” Mr Strong said. “So they need to come out and say: ‘yes, we will keep that in place so you can plan ahead with certainty’.”

As late as Wednesday 17 May, in his address to the National Press Club and in answers to questions, Chris Bowen, refused to say whether the tax breaks for small businesses would be repealed if Labor wins government.

Australian Small Business and Family Enterprise Ombudsman Kate Carnell said small businesses needed certainty to grow and ­employ. “To revert back to the $2m cap for lower tax rates for very small businesses would seriously impact confidence,” she said. ” (Read report below)

CoSBA has written to the Government conveying our appreciation for Budget initiatives that acknowledges the needs and aspirations of small business.

Conversely, it is with concern that the Leader of the Opposition in his Budget in Reply address did not indicate any initiatives or relief for small business, of most concern is that he failed to respond to the Government’s question as to whether Labor in government would repeal the tax relief for small business recently passed by the Government. Silence!

It is said that silence is acquiescence. Copies of the letter were sent to Bill Shorten, Chris Bowen and Katy Gallagher, Shadow Minister for Small Business