Australians can claim RATs when they do their tax, and businesses will be excused from the fringe benefits tax as the tests emerge as a key battleground ahead of the federal election.
Accounting groups are urging small businesses to lodge overdue tax returns, after the tax office revealed it has started chasing debts in NSW, Victoria and the ACT.
A committee has recommended the federal government introduce a taxpayer bill of rights, giving small businesses better legal protections when they engage with the tax office.
The process for applying for government support payments could soon be easier for small businesses across the country, thanks to a change in how businesses can register for business categories or ANZIC codes.
A small business owner is frustrated with the NSW government’s delivery of JobSaver as lengthy delays and changing requirements affect their access to payments.
Border closures will continue to act as a millstone around the neck of the Western Australian economy because the labour shortages resulting from lockdowns limit the state’s ability to grow, according to CPA Australia.
Australia should move away from heavy taxation of incomes towards higher taxation on goods and services to accelerate economic recovery from the pandemic, the OECD recommends.
