SMALL BUSINESS TAX HOLD UP:
It is with profound concern for small business to read in the 14.2.18 edition of The Australian newspaper a report by Robert Gottliebsen under the heading ‘How terrible proposed tax laws can be made fair’ (copied below).
Reporting on “the so-called “Transparency of (Business) Tax Debts” measures”, Gottliebsen stated: “In decades of journalism I have never seen a draft act of parliament carefully designed to wreck the small business community . . . Any politician — government, opposition or crossbencher—- who votes for this legislation in its current form will have inflicted on the small business community and confidence in tax system fairness.”
Those weighty statements reflects a serious indictment on the Government, accordingly we call upon the responsible Ministers in the Government to take positive steps to rectify this impost as a matter of urgency.
AFCA: CoSBA welcomes the news that: “Small businesses will soon have access to a new financial complaints authority, with the federal Parliament this week successfully passing legislation to establish the Australian Financial Complaints Authority (AFCA). The new body is expected to begin receiving complaints from November 1 this year. In the meantime, the three services will continue to operate but progressively transition over time.”