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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

Top 10%

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!!

Scott O'Reilly added an answer to this question
Scott O'Reilly

Scott O'Reilly

Interestingly, the construction industry in Victoria (and I believe mirrored in many other states) has a form of this called the Building and Construction Industry Security of Payment Act 2002 (VIC) - it is based on the premise that construction contractors already 'cashflow' projects for their clients ...  Continue Reading
Deborah Vella

, at

I can see how legislation in certain industries can be beneficial, such as the payments legislation in the construction industries in various states. However for general small business, it might be best to leave market forces to work.

Jef Lippiatt added an answer to this question
Top voted answer
Jef Lippiatt

Jef Lippiatt, Owner at Startup Chucktown

I think one thing that would be great for all small businesses is reduced redundancy (aka more intuitive processes).
Many times there are multiple applications you have to log in to (everything from filing forms, requests, paperwork, taxes, etc.) Those should be streamlined into a single application (1 ...  Continue Reading
Melissa Profeta

, Community Manager at SavvySME

Great answer Jef! Thank you for contributing. Do you think this should be a priority?

Jef Lippiatt

, Owner at Startup Chucktown

Definitely! Here in the United States things can even vary widely between states, making things wildly confusing. There needs to be a much larger effort on efficiency and intuitive tools for entrepreneurs. For example, many solopreneurs (solo traders) do the paperwork to get started themselves (usually because they can't afford an attorney). However, when things go wrong (and they sometimes will) generally there is no obvious direction. Starting a business can be hard, but what all steps are there to close it down completely? It's this type of information that is very unclear. Also business permits and licenses. How do you know what you need if you aren't sure how your business is classified? These types of efficiencies are vital and need to be addressed urgently to continue making entrepreneurship attractive to people deciding whether or not to make the jump. People want to start businesses not headaches. If you can stay at your job and limit your income but reduce your hassles, how many people would continue doing that verses taking a leap to have unlimited earning potential but tons of headaches and additional stress from the paperwork and filing dates not being obvious or explained? (rant over)

Peter Wallace added an answer to this question
Peter Wallace

Peter Wallace, Non Executive Director at

Business agent law are state-based laws - so each state has their own regulations.

In most states, the business agent licences are (stupidly) part of real estate agents licences - so the best place to start of office of fair trading websites in your state.

Also look at Australian Institute of Business Brokers (aibb.org.au)