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Submission No. 24 Back to full list of submissions
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The Secretary
Review of Business Taxation
The Treasury
Parkes Place
PARKES ACT 2600

 

Dear Dr Preston

Attached is a submission from the Australian Society of Certified Practising Accountants relating to Tax Reform and Small Business.

This submission presents a discussion of the proposed tax reforms as they relate to the small business sector. We do, however, intend to address the issue of trusts in a later submission. The submission makes recommendations about how the tax reform proposals could be improved to ensure the resulting tax system better meets the needs of small business.

We are conscious of the fact that the submission covers some taxation matters that are outside the scope of the terms of reference for the Review of Business Taxation. For this reason, we are also making the submission available to the Small Business Consultative Committee. Our aim in constructively contributing to these consultative forums is to help to ensure that reform assists rather than hinders small business growth - benefiting our economic prosperity and employment growth.

We have no objection to the submission being released publicly in its entirety from 5 April 1999.

I will email this letter and the submission to you. If you wish to contact me about the submission, my telephone number is (03) 9606 9830.

Yours sincerely

 

Angela Ryan
Director – Taxation

1 April 1999

 

Tax Reform Issues for Small Business

 

The Australian Society of Certified Practising Accountants

 

Prepared by

 

Associate Professor Chris Evans
ATAX, UNSW

and

Angela Ryan,
Director – Taxation, ASCPA

 

April 1999

The ASCPA maintains copyright over this paper and its contents and any reproduction in full or in part needs to acknowledge the ASCPA as its source.

Introduction

As Australia’s leading accounting body, the Australian Society of Certified Practising Accountants (ASCPA) is working to ensure that we create a robust and fair tax system that will meet the needs of the country in the new millennium.

This paper represents the first comprehensive and objective discussion of the proposed tax reforms as they relate to the small business sector. It also makes recommendations about how those proposals could be improved to ensure the resulting tax system better meets the needs of small business.

This discussion paper will be provided to the Review of Business Taxation and the Small Business Consultative Committee to ensure that reform assists rather than hinders small business growth - benefiting our economic prosperity and employment growth.

In the interests of furthering the tax reform debate, this paper will also be provided to all major political parties and will be available to the general public via the ASCPA Internet site, CPA Online, at www.cpaonline.com.au.

Copies of this report are also obtainable from the ASCPA by contacting Angela Ryan, ASCPA Director – Taxation on 03 9606 9830.

 

The full submission is available to download in either
PDF or RTF format