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March 2026

Managing a Business

OpenAI Forges Alliance with Australian Small Business Lobby for Local Expansion and AI Policy Influence

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Artificial intelligence leader OpenAI is deepening its ties in Australia through a strategic partnership with the Council of Small Business Organisations Australia (COSBOA). This collaboration aims to foster local AI research, promote small business adoption of AI technologies, and shape favorable policy and product development for the sector. Key Takeaways OpenAI and COSBOA are actively collaborating on local AI research as OpenAI expands its Australian presence. A recent report highlights AI’s potential to boost small business productivity by 7.1% in five years. The partnership focuses on ensuring AI policy and product design genuinely support small business innovation and growth. Australia is seen as a crucial "proving ground" for global small business AI adoption. Strategic Partnership for AI Adoption OpenAI, the company behind ChatGPT, is working closely with COSBOA, representing over 2.5 million small businesses in Australia. This "two-way relationship" leverages OpenAI’s technological expertise and COSBOA’s deep understanding of small business operations. The goal is to create AI policies and products that are genuinely beneficial for innovation, access, and growth within the small business sector. Matthew Addison, COSBOA chair, stated that the collaboration is vital for understanding the impact of AI on small businesses, which are a critical engine of the Australian economy, accounting for more than 97% of all businesses. Research Highlights AI’s Potential for SMEs A recent report, "Australia’s AI Opportunities," co-authored with insights from COSBOA and other key stakeholders, projects significant productivity gains for small businesses through AI adoption. The report suggests that AI could enhance small business productivity by 7.1% over the next five years, potentially outpacing larger corporations. This growth is expected to come from small businesses integrating "AI as a service" tools, a more scalable approach than investing in new hardware. OpenAI’s Growing Australian Footprint This partnership is part of OpenAI’s broader strategy to establish a stronger presence in Australia. The company has been actively engaging in policy discussions, advocating for grants, tax incentives, and enhanced research and development frameworks for AI. OpenAI has also appointed former Technology Council of Australia CEO Kate Pounder as its local policy liaison and plans to open its first Australian office in Sydney. Australia as a Global Test Case COSBOA views Australia’s diverse small business landscape as an ideal "stress test" for AI technologies. If AI tools can successfully help Australian small business owners navigate complex areas like tax systems, superannuation obligations, and compliance with modern awards, they are likely to be effective globally. This makes Australia a crucial "proving ground" for worldwide small business AI adoption. COSBOA itself is optimistic about AI’s potential and advocates for accessible training, affordable tools, and trusted frameworks to facilitate widespread adoption. The organization also supports a "light-touch" regulatory approach to AI, emphasizing the need for swift action to avoid falling behind other nations actively embracing AI. Sources OpenAI partners with small business lobby amid Aussie expansion, SmartCompany.

Managing a Business

Summary of obligations (Anti-Money Laundering Reform)

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This page provides a summary of your upcoming anti-money laundering and counter-terrorism financing (AML/CTF) obligations. On this page New regulated services Key obligations summary 1. Enrol and register with us 2. Develop and maintain an AML/CTF program tailored to your business 3. Get your staff ready 4. Conduct customer due diligence 5. Report certain transactions and suspicious activity 6. Make and keep records Clear protections for legal professional privilege Related pages New regulated services From 1 July 2026, AML/CTF obligations will apply to certain services typically provided by the following professions and businesses, known as tranche 2 entities: real estate professionals – such as real estate agents, buyer’s agents and property developers dealers in precious stones, metals and products lawyers conveyancers accountants trust and company service providers.  More virtual asset-related services and intermediary transfer message services will also come under AML/CTF regulation from 31 March 2026. To check if you provide services that will be regulated under these changes and have AML/CTF obligations: use the online tool to check if you may be regulated visit our new industries and services to be regulated page. For information on the services we already regulate visit who and what we regulate. We’ve developed education resources to help you implement effective AML/CTF measures. You can subscribe to stay updated on AML/CTF reform. Key obligations summary The key obligations for businesses regulated by us are to: Enrol and register with us. Develop and maintain an AML/CTF program tailored to your business. Get your staff ready to implement your obligations. Conduct initial and ongoing customer due diligence (CDD). Report certain transactions and suspicious activities. Make and keep records. In meeting your obligations, the relevant laws also provide clear protections for information that may be subject to legal professional privilege. Understanding and meeting your obligations is essential to protect your business from misuse by criminals and make sure you comply with Australia’s AML/CTF laws. 1. Enrol and register with us If you provide a designated service with a geographical link to Australia you must enrol. Enrolment opens 31 March 2026 for newly regulated industries and can’t be done earlier. If you’re a remittance service provider or virtual asset service provider, you need to enrol and apply for registration. If you’re already enrolled or registered, you must update your enrolment and registration details to include any of the new designated services you provide from 31 March 2026. You must also continue to update us when your enrolment or registration details change. The Department of Home Affairs is considering whether transitional rules should be made to extend the deadlines for enrolment and registration mentioned below. This guidance will be updated if any transitional rules are made. Enrol Enrolment involves providing basic information about your business, such as its: structure services key personnel contact details. You must also update your details when they change. You must submit your enrolment application no later than 28 days after the day you start providing a designated service. If your business provides any of the newly regulated virtual asset services or intermediary transfer message services, these new laws start 31 March 2026. This means you’ll have until 28 April 2026 to enrol. If you provide any other newly regulated designated services, the new laws start on 1 July 2026, and you must enrol by 29 July 2026. Register You must not provide an existing regulated virtual asset or remittance designated service before you’ve registered with us. This obligation applies to newly regulated virtual asset services from 31 March 2026. Criminal penalties apply for non-compliance. Learn more about enrolment and registration and the consequences of not complying. 2. Develop and maintain an AML/CTF program tailored to your business An AML/CTF program protects your business from criminal exploitation through money laundering, terrorism financing and proliferation financing. It helps you fulfil your obligations and contributes to a safer Australian financial system. Your program must contain both of the following: A risk assessment: you must identify and assess your money laundering, terrorism financing and proliferation financing risks (we refer to these as ML/TF risks). AML/CTF policies: you must develop and maintain appropriate policies, procedures, systems and controls to manage and mitigate your ML/TF risks and comply with your obligations. Your program must be documented and approved by a senior manager of your business. It must be kept up to date, including to reflect significant changes to your business and relevant ML/TF risk products we release. It must also be independently evaluated at least once every 3 years. Reporting group If you want to share the costs of compliance with other businesses and fit within the framework established by the Act and Rules, you may be able to do so within a reporting group. Entities in a reporting group share some or all risk management and compliance arrangements. This includes those set out in a group AML/CTF program established by a lead entity of the group. Note that obligations apply differently to foreign branches and subsidiaries. Learn more about: your AML/CTF program obligations reporting groups. 3. Get your staff ready Preparing your staff is critical to help you meet your AML/CTF obligations. This includes making sure of all of the following: they’re fit to perform their roles they understand their obligations your business has strong governance and oversight in place. Governance Your AML/CTF program must be subject to appropriate governance arrangements. Strong governance and oversight help protect your business from criminal exploitation and support a culture of AML/CTF compliance. Your AML/CTF governance structure must clearly identify 3 roles: Governing body: has primary responsibility for your governance and executive decisions, empowers the AML/CTF compliance officer and oversees compliance at the highest level. Senior manager or managers: approves key AML/CTF compliance decisions. AML/CTF compliance officer: manages day-to-day AML/CTF compliance and makes sure policies and procedures are implemented. These roles are usually held by different people, but in smaller businesses, one person may conduct multiple governance responsibilities. Learn more about governance. Conduct personnel due diligence and provide AML/CTF training Personnel due diligence and training ensure the people performing AML/CTF

GST, Managing a Business

Australia Post Underpaid Postage Fees Squeezing Small Business Profits

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Small businesses across Australia are voicing significant frustration over escalating “underpaid postage” charges levied by Australia Post. These post-shipment fees, coupled with opaque pricing and arduous dispute processes, are reportedly eroding the already slim profit margins of many small enterprises, leading to increased operational costs and administrative burdens. Key Takeaways Small businesses are experiencing a rise in “underpaid postage” notices from Australia Post, leading to unexpected additional charges. Discrepancies in parcel size and weight measurements between businesses and Australia Post’s scanning technology are a primary cause of these fees. The administrative effort required to dispute these charges often outweighs the cost of the fees themselves, leading many businesses to pay them without challenge. These increased costs are forcing businesses to re-evaluate their pricing strategies and packaging choices. Rising Costs and Measurement Disputes Numerous small business owners report receiving frequent “underpaid postage” notifications after lodging parcels. These charges, sometimes ranging from a few dollars to over $7 per parcel, require immediate payment before further shipments can be processed, creating cash flow issues and account pressure. Businesses claim to meticulously measure and weigh their parcels, yet discrepancies with Australia Post’s automated scanning systems persist. Australia Post maintains its scanning technology is highly accurate and independently verified, processing millions of parcels annually with the vast majority accurately scanned. The Administrative Burden of Disputes Many business owners find the process of disputing these charges to be time-consuming and largely unproductive. Anecdotal evidence suggests that refunds or credits are rarely issued, and disputes can be passed between departments without resolution. The effort involved in gathering evidence and communicating with Australia Post often makes disputing smaller charges financially unviable, leading to a de facto acceptance of the fees. This situation is exacerbated by limited alternative shipping providers, particularly for deliveries to PO boxes and regional areas, leaving many businesses feeling “at ransom” by Australia Post’s policies. Impact on Business Operations and Pricing The cumulative effect of these underpaid postage charges is forcing small businesses to consider price increases for their products. Some are also altering their packaging and fulfilment strategies, with a noted decline in demand for custom packaging as businesses opt for more cost-effective, albeit less branded, solutions like Australia Post’s prepaid satchels. This trend impacts not only the businesses themselves but also suppliers of packaging materials, as demand shifts away from personalized options due to shipping cost pressures. Sources Australia Post underpaid postage fees hit small businesses margins, SmartCompany.