The Council of Small Business Australia (COSBOA) has expressed extreme disappointment with the government following the decision announced today to back date the removal of tax support provisions for small business that comes as a result of the removal of the mining tax.
Peter Strong, advice Chief Executive of COSBOA said that the change should not be back dated as this creates confusion for the small business community as well as extra paperwork for those who, in good faith, purchased goods and/or claimed these as part of their tax return .
“We can only express disappointment that the back dating was kept in place. This shows a lack of understanding of the way small business functions. The logical decision would have been to keep these provisions in place pending the outcome of the Tax Whitepaper that the government has commissioned.” Mr Strong said.
“There is also the issue that the changes take effect half way through a financial year, last financial year, no government should implement changes to the tax system half way through a financial year. There are plenty of small business people who will not be aware of these changes, the seeming belief that 2.1 million small business people wake up everyday and go straight to the Treasury website to see what changes to the tax system may have occurred shows that someone is completely out of touch.”
“This change provides no problems for big business only for small business and that has been noted,” concluded Mr Strong.
See HERE for an article explaining why this is an odd and bad decision.