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Small business tax system ‘crying out for simplification’

Small business tax law is ripe for reform, with the current system more complex than ever, argues The Tax Institute.

Small business tax system ‘crying out for simplification’
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Small business tax system ‘crying out for simplification’

Figures from the Australian Small Business and Family Enterprise Ombudsman show that small and family businesses account for 98 per cent of all businesses in Australia, 35 per cent of Australia’s gross domestic profit and employ 44 per cent of Australia’s workforce. Yet there is no clear and singular meaning of what constitutes a small business.

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