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Stefen Livingston added an answer to this question
Stefen Livingston

Stefen Livingston at

Yes, I think negative gearing should be scrapped... over time... I think a wind down period of 10 or even 20 years maybe, will have a positive effect, couple with making mortgage interest on your own home, principle place of residence, tax deductible, to encourage home ownership... I think it will also lead to higher quality and better considered and designed home building in this country.

Deborah Vella added an answer to this question
Deborah Vella

Deborah Vella at

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It seems that the Budget 2017 does have small business in mind. While there may not be lots of small immediate perks, the budget helps to create a good foundation for small business to thrive.

George Grimekis CPA added an answer to this question
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

, Founder at

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

, 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 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!!