Tag: Federal Government

As the ink dries on the federal budget, a number of business groups believe the government didn’t go far enough in terms of encouraging business to hire new staff.

While the government is rightly attempting to put our fiscal position on a sustainable footing its sense of urgency seems to be at the expense of long-term, broader reform to the tax system.

It’s been a super month for Government economic statements, in Australia with the long awaited “commission of audit’ report being released just ahead of the usual Federal Budget unveiling.

Small and medium sized businesses do not want to see an increase in the goods and services tax in next week’s Federal Budget and many are pessimistic about whether the Abbott Government will deliver on its promises for the sector.

When the Commission of Audit report was released last week – replete with sweeping cuts to public spending – it became clear that this years’ budget would be taking no prisoners. We’ve been living beyond out means for too long, and the party is over.

The majority of small business owners face a vicious “double whammy” revenue hit if Tony Abbott proceeds with a mooted debt levy on income tax to repair the budget.

An array of factors including sustained pay inequality, a high prevalence of participation in part time work and career breaks for family mean there is a significant super gap between men and women’s retirement savings.

Small business has found itself smack bang on the national agenda this year, with the federal small business portfolio upgraded to cabinet status at the last election.

It’s the unsexy topic we love to avoid. Superannuation gets filed in that box of life admin tasks right alongside insurance and phone plans.

The majority of SMEs do not expect to feel a ‘significant impact’ from the repeal of the Carbon and Mining Tax.