A name-and-shame website has been set up so small businesses can collect money they're owed. While not a credit collector, www.hasntpaidyet.com is a database of known late payers that site members can refer to. The site also sends creditors frequent bill reminders. "Many small businesses don't have the time or financial resources to engage in costly legal action, and instead walk away from bad debts and swallow an unfair loss, until now," says co-founder Paul Wilson.
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Cash-rate hike looms
A survey of economists by finder.com.au finds that the nextcash-rate rise is likely to be in June 2015 and it will continue to gradually rise over the next 2-3 years to 4 per cent from 2.5 per cent now. There's also a chance it could rise sooner, with a 21 per cent chance of a rate hike in the first few months of next year.
ATO warns deadline approaching
The ATO is reminding taxpayers who complete their own returns to lodge online before the October 31 deadline to avoid penalties. The fastest and most convenient way to lodge is through the ATO's free myTax or e-tax services.
Medibank member-shareholders well positioned
Just over one-quarter of adult Medibank Private members are shareholders and have $94 billion sitting in the bank, according to a survey by Roy Morgan Research. "They show great potential to purchase their share of the estimated $4 billion to $5.7 billion value of the shares likely to be offered in the forthcoming float, particularly if they are eligible for a larger preferential allotment," it says.
