SavvySME Official
SavvySME Official, Official Account at SavvySME

Budgeting and forecasting

What “burdens” would you like to see scrapped as a small business?

Last year’s budget announced plans to reduce red tape for businesses. The GST reporting will be simplified starting July this year. What other “burdens” would you like to see scrapped as a small business?

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2 Answers

Rebecca Carroll-Bell

I operate as a sole trader and for now that suits me. I find it very irritating when the politicians go on TV talking up how much they are helping "small business" when in fact, they are helping small companies. Many of the so called benefits and tax breaks are of no help to me because I am not a company and don't pay company tax.

I'd like to see more support, breaks and benefits for the small business owners who are not incorporated; or at he very least, say what you mean and talk about small companies not small business.

Bec

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George Grimekis CPA

George Grimekis CPA , Accountant at Alpha Omega Accounting & Business Solutions

I hope I live to see the day when Payroll Tax is abolished.

I cannot understand why taxing businesses for employing people is still OK in this day and age.

Phil Khor

Phil Khor, Founder at SavvySME

I agree. I never understood Payroll tax either, especially when a business owner employs more than the tax threshold. I would have thought it's the other way ar... read more
I agree. I never understood Payroll tax either, especially when a business owner employs more than the tax threshold. I would have thought it's the other way around, that there should be more incentives to employ more people (not less).
George Grimekis CPA

George Grimekis CPA, Accountant at Alpha Omega Accounting & Business Solutions

..and to make things even more complicated, just wait till you start engaging contractors. Here in NSW, there are series of criteria that have to be applied ... read more
..and to make things even more complicated, just wait till you start engaging contractors. Here in NSW, there are series of criteria that have to be applied to determine whether a contractor is included or exempt from payroll tax. A business owner would have to have the knowledge of an accountant/lawyer to understand all these criteria, and keep on top of the record keeping requirements...talk about burdens!!
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