KPMG Enterprise recently surveyed 2,000 Tax, Audit and Advisory clients to get a sense of their opinions on recent and upcoming tax changes. The survey revealed that many of the clients felt recent tax cuts for small business would have no effect on businesses or would have to be much larger cuts to have any effect. Those surveyed also felt, surprisingly, that superannuation should not be used to promote home ownership but be kept as a fund for retirement.
Key Takeaways:
- Two thirds of small businesses feel that the tax cuts won’t effect them and that the cuts need to be bigger to have any effect.
- Many small businesses feel that the recent tax cuts will not have any effect on them.
- Small business clients are calling for a tax reform as the new tax cuts are not effective.
“On the government’s recent small-business tax cuts, 40 per cent said they would make no difference and 24 per cent said further cuts were needed to be truly effective.”
Leave a Reply