South Australia’s small-business sector rejects bank tax

Many businesses in South Australia are against a proposal by the Australian government to implement a new bank tax. Three out of four of medium or smaller businesses object to it, saying it would harm the local economy. Banking executives, citing the concerns, say the tax will impact how competitive South Australia is in the larger markets. They point to how it will hurt growth, and keep South Australia from being able to create new employment. They’re urging Parliament to vote it down.

Key Takeaways:

• small scale business sector refuses the state tax in South Australia.
• In South Australia more than 25000 employees and it has almost 90% of business.
• As per BDO,the bank tax policy is very irrelevant and not good.

“Anna Bligh said that it was unsurprising that opposition to the tax was continuing to grow.”

Read more: https://insidesmallbusiness.com.au/planning-management/south-australias-small-business-sector-rejects-bank-tax