An agreement by national leaders to lower the GST-free threshold to capture online transactions under $1000 is hoped to put domestic retailers on a more equal footing with their international competitors. Online retailers have long suffered from the current exemption as they lose customers to overseas retailers looking for cheaper goods. “Ensuring overseas online transactions […]
An individual earns income, pays income tax and then pays expenses with what’s left. A business basically pays for expenses with pre-tax dollars whereas an individual pays expenses with post-tax dollars.
Tom Seymour said the nation would not see housing become more affordable, a rise in job security, and a boost in education if major tax reform were not accomplished.
New research reveals the average SME spends over two full working weeks (84.1 hours) every year in gathering tax on behalf of the Australian Government.
Tax cuts, higher household incomes and a boost to Australia’s economy will all be the result of a reform to the GST, according to a new report released by CPA Australia.
Tax experts and small business advocates have urged that any increase to the rate or base of the GST be accompanied by other tax changes that will help ease the burden on SMEs.
A majority of business owners want the government to develop policies to bolster industry in sectors where Australia has a competitive advantage, a new study suggests.
The Australian Taxation Office is increasingly concerned at the growth in crypto-currency Bitcoin. It will soon release a ruling on how the digital currency is to be treated for tax purposes. The decision may have significant consequences on the usage of the currency in Australia. The ATO was initially unconcerned by the emergence of the […]
Small business satisfaction towards the federal government has risen to its highest level in nearly five years according to a new survey, with one third of respondents expecting their revenue to increase in 2014. The survey of 1,032 SME’s commissioned by accounting software provider MYOB shows that in March, nearly one quarter or 24 per […]
Advocates for Australian-made products have slammed the nation’s treasurers for political cowardice after they deferred a decision on reducing the $1,000 GST low value exemption for overseas online purchases.
