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ATO Credit card ban paused after business backlash · The Front

• 0:01
  Speaker 1: Today's biggest news from The Australian. I'm Kristen Amiott with
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  Speaker 1: the front's afternoon headlines. Small business owners will be able
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  Speaker 1: to continue paying their tax bills using credit cards after
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  Speaker 1: the Australian Taxation Office paused its ban on plastic until 2027.
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  Speaker 1: The ban was originally due to come into effect at
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  Speaker 1: the end of next month, but has been postponed until June.
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  Speaker 1: Treasurer Jim Chalmers said on Friday the delay is about, quote,
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  Speaker 1: putting small businesses first, and said the government's intervention is
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  Speaker 1: about giving some taxpayers and small businesses longer to transition
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  Speaker 1: to the new payment scheme. The ATO ban is part
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  Speaker 1: of a move by the Reserve Bank to stop businesses
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  Speaker 1: from passing credit card processing fees onto customers, which started
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  Speaker 1: on October 1. Up until now, the ATO has passed
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  Speaker 1: those fees on to the taxpayer, but said in light
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  Speaker 1: of the RBA's new rules, it wouldn't use public money
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  Speaker 1: to cover the expense. The move was met with pushback
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  Speaker 1: from business owners, who said they'd been blindsided. Jim Chalmers
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  Speaker 1: said on Friday the ATO would receive so-called transitional funding
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  Speaker 1: to allow credit card transactions to continue for the time being.
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  Speaker 1: Opposition leader Angus Taylor said on Friday the credit card
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  Speaker 1: ban should be scrapped altogether. It's the mega stock market
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  Speaker 1: float that wasn't. Data centre builder Firmus has officially pulled
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  Speaker 1: its initial public offering planned for October 23. The IPO
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  Speaker 1: was supposed to net billionaire Oliver Curtis and his co-founder
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  Speaker 1: Tim Rosenfield more than $ 7 billion, but investors balked at
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  Speaker 1: the $ 11 share price. In a statement released on Friday morning,
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  Speaker 1: Firmus confirmed it had withdrawn its application to list on
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  Speaker 1: the ASX and said the company's board, quote, concluded that
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  Speaker 1: proceeding with the offer was not in the best interest
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  Speaker 1: of the company and its shareholders. The company cited market
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  Speaker 1: volatility as the reason for the withdrawal. Had it proceeded
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  Speaker 1: as originally planned, Firmus' ASX debut would have been the
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  Speaker 1: biggest since the privatisation of Telstra in the mid-1990s. Now
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  Speaker 1: the company is reportedly looking to the US for redemption,
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  Speaker 1: with a plan to list on the NASDAQ in 2027.
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  Speaker 1: Bachelor star Sam Wood will remain behind bars after he
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  Speaker 1: was refused bail in the Maroochydore Magistrates Court on Thursday afternoon.
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  Speaker 1: The millionaire fitness guru was arrested and charged with domestic
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  Speaker 1: violence offences on Saturday night following an alleged incident at
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  Speaker 1: a holiday home in Noosa on Queensland's Sunshine Coast. Wood
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  Speaker 1: appeared in court via video link on Thursday. where his lawyer,
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  Speaker 1: Matthew Caskelley, said he was suffering from depression and argued
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  Speaker 1: Wood should be released on bail in order to access
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  Speaker 1: mental health support. Acting Magistrate Janelle Bogeheim acknowledged Wood's mental
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  Speaker 1: health status in her decision, but said she wasn't satisfied
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  Speaker 1: his suggested course of action, which included staying with his father,
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  Speaker 1: reduced the risk. The court heard Wood allegedly grabbed his wife,
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  Speaker 1: Snezana Markoski, whom he met on reality TV series The
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  Speaker 1: Bachelor in 2015, by the throat and threw her against
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  Speaker 1: a wall during an argument about the family's travel plans.
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  Speaker 1: Cuskelly said Wood agreed there was pushing and shoving during
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  Speaker 1: the alleged altercation, but denied strangling Markoski. The lawyer added
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  Speaker 1: the former Bachelor star may be entitled to claim self-defence.
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  Speaker 1: Check out those stories live right now at theaustralian.com.au. And
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  Speaker 1: come back to The Front first thing in the morning
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  Speaker 1: for our look at the four-hour Elon Musk documentary that
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  Speaker 1: Elon Musk hates. That's right here, Saturday morning.