It is often claimed by politicians and leaders in the community, that small businesses are the inherent backbone of any properly functioning economic process. In recent years, there has been an increasing outcry against the excessive taxes levied against small businesses in the country, and therefore demands against these actions have arisen. Now, small business owners are demanding that their government reduce the taxation levels on their operations, in order to allow them an opportunity to compete with others.
- According to the MYOB’s Business Monitor, the Australian SME sector is supporting current government policies and calling for friendly small-business regulations such as paid parental leave.
- A survey of 1,000+ SME business people indicates that the majority of them want the Australian government to decrease the company tax rate and maintain the instant tax write-off.
- The MYOB’s recent Business Monitor survey also indicated that payroll compliance is the most critical issue for Australian SMEs overall.
“The Australian SME sector has backed the current policies of both federal and state governments, while continuing to call for small-business friendly policies like the reduction of red tape, simplification of reporting processes, paid parental leave and further business tax cuts.”