Business owners who use credit card payments as cashflow tool need ‘clear, consistent approach’, chamber of commerce says Labor is putting pressure on the tax office to reverse its decision not to accept credit card payments amid a growing backlash, insisting the ATO help small business operators manage critical cashflow after a ban on surcharges. Government ministers took credit for a decision by the Reserve Bank to ban surcharges for credit card payments from the start of this month, a move the central bank estimated would save consumers about $1.6bn. Card surcharges had been used to cover the cost charged by banks and credit card companies for processing payments. Continue reading...
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