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ATO Backs Down on Credit Card Ban • The Western Weekender
The tax office said merchant fees cost almost $200 million a year and will keep credit cards open until November 30 during the transition.
- On Friday, the Australian Taxation Office delayed its planned ban on credit card payments for tax bills after Treasurer Jim Chalmers negotiated a 12-month transition period following intense public criticism.
- Taxation Commissioner Rob Heferen stated the ATO "would have preferred to continue accepting credit cards," but merchant fees of nearly $200 million annually made it untenable following Reserve Bank of Australia reforms on October 1.
- Business groups, including the Australian Chamber of Commerce and Industry , condemned the policy, with leaders describing a recent meeting with the ATO as a "total waste of time" while citing cash flow concerns.
- Government ministers offered a unified message on Friday, with Environment Minister Murray Watt and Foreign Minister Penny Wong encouraging the ATO to perform meaningful consultation after mixed messaging on Thursday.
- The broader Reserve Bank of Australia surcharge ban, described as "in the public interest," aims to save consumers about $1.6 billion annually, as Treasury provides funding for the ATO's 12-month transition period.
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MASSIVE.NEWSAlbanese government partially retreats on credit card issue after small business revolt
The Albanese government has made a partial retreat on the controversial move by the Australian Taxation Office (ATO) to ban businesses from using credit cards to pay their tax bills. After a backlash from many small businesses, which complained they needed the option to manage cash flow problems, the government announced on Friday it had “stepped in” to delay the ban until June 30 next year. This would “ensure a longer transition period before t…
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Total News Sources31
Leaning Left5Leaning Right4Center6Last UpdatedBias Distribution40% Center
Bias Distribution
- 40% of the sources are Center
40% Center
L 33%
C 40%
R 27%
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