A desperate business owner who says he is 'hanging on by a thread' has been given a blunt warning by the Barefoot Investor after raging against Canberra and the ATO.
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he → say → Canberra
John, who sells and services caravans, told Scott Pape his business had been 'decimated' and accused those in Canberra of making life increasingly difficult for small operators.
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life → sell → operators
'Our business has been decimated by the morons in Canberra, from their disastrous budget and their overspending, which is leading to higher interest rates, and now the final nail in the coffin is the ATO banning paying your tax bill by credit card,' he wrote.
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he → decimate → card
These idiots have no idea how to run a business!
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idiots → have → business
So we are told that we have to absorb the surcharges but those arrogant bastards at the ATO don't have to?
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bastards → tell → ATO
We are hanging on by a thread and this is the final straw.
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this → hang → thread
Why bother being in business when you have to not only deal with these clowns but fund their stupidity?
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you → bother → stupidity
'
But Pape urged him to stop 'yelling at the umpires' and instead confront the uncomfortable question of whether his business was still viable.
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business → urge → question
'You're like me at the MCG, yelling at the umpires.
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You → yell → umpires
It feels really good … and it achieves absolutely nothing,' he responded.
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he → feel → nothing
The ATO says that about 2.3 per cent of tax payments are made by credit card.
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cent → say → card
Scott Pape (pictured) told John to stop wasting his energy on Canberra and focus instead on whether his business remained viable
Treasurer Jim Chalmers (pictured) announced last week the controversial ban on accepting credit card payments for tax bills would be delayed
John, who sells and services caravans, told Scott Pape his business had been 'decimated' and accused those in Canberra of making life increasingly difficult for small operators
'
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life → picture → operators
My guess is that most of them are doing it to earn rewards points (which the banks have now basically neutered because of the changes).
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banks → do → changes
'
But Pape told John to stop wasting his energy on Canberra and focus instead on whether his business remained viable.
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business → tell → Canberra
'Paying your tax on the never-never is a strong signal that you're ten goals down at half time,' he said.
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he → pay → time
You can come back from that, but not without help.'
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You → come → help
Pape then urged John to seek professional help through the Small Business Debt Helpline, which he helped establish.
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he → urge → which
'Years ago I helped set up the Small Business Debt Helpline.
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I → set → ?
It's a free service staffed by professional financial counsellors with small business expertise, and they can help you work out where you stand, and help guide you with the ATO.
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you → staff → ATO
The ATO sparked a backlash earlier this month when it announced it would stop accepting credit card payments for tax bills from December 1, following the introduction of a ban on card surcharges.
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it → spark → surcharges
Treasurer Jim Chalmers announced on Friday that the controversial ban would be delayed until June 30, 2027, following a fierce backlash from small businesses.
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ban → announce → businesses
Independent MP Kate Chaney (pictured) had called on the ATO to reconsider or grant businesses a longer grace period to adjust on Thursday.
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Chaney → picture → Thursday
Chalmers blamed credit card companies for not offering low enough fees to allow the ATO to keep accepting card payments.
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ATO → blame → payments
'Australian small businesses have said the ATO's announced time frame was inadequate and we have taken these concerns seriously and acted on them,' he said.
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he → say → them
'We try not to interfere with the RBA or the ATO, but it's really important that we have stepped in today.
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we → try → RBA
'Labor will always back small businesses because we know how important they are to our economy.'
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they → back → economy
Independent MP Kate Chaney had called on the ATO to reconsider or grant businesses a longer grace period to adjust on Thursday.
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Chaney → call → Thursday
'Credit cards are one way businesses manage cash flow when a tax bill lands.
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bill → manage → flow
Removing that option with around eight weeks' notice makes things harder,' she said.
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she → remove → notice
The Aporia
