COSBOA today released a paper that shows how innovative ideas can be used in tandem with traditional economic rationalism to get the economy on track.
We believe that economic rationalism based on old text books and big business needs might be fine when things are good but when economic crisis comes along, prostate as they do, and big businesses tax dodging is having a bigger impact on the economy then it is time for tax innovation. It is time to do something that sends a message to small business people who are the 96% of businesses, the 90% of employers, the innovators, the doers, the lifters – a message that it is the whole government, not just small business minister Bruce Billson, that is really focusing on small business, that it isn’t just rhetoric.
COSBOA has provided Bruce Billson and through him the Treasurer with a summary of innovative and traditional ideas that will assist small business people to grow if they wish, to proposer and to employ more people.
We believe our ideas are not just on tax but also on employment, training, and local economic development. For too long the government funded programs and support such as apprenticeship centres, employment service providers and training companies have focused on profit at the expense of the taxpayer. We need a new model and COSBOA is ready to inform that model. This budget can seen a start on depth to policy solutions not lazy laissez fair policy.
Bruce Billson is the minister to go to, he is in the Treasury portfolio, he gets the economy like a real person not like a robotic economic rationalist and he is clever.
In summary COSBOA asks for
150% depreciation rates on wages and purchases or
Across the board company tax break of 5% for small businesses, or
A 10% company tax for incorporated small businesses to assist them maintain profits in the company structure and leverage finance to assist growth
Removal of FBT on child care and gym membership to assist small business support employees with family and health needs
Collect GST on all purchases made from within Australia.
Employment and Training
A focus on Group Training Companies who provide support with administration on employment and training to small businesses, particularly with apprenticeships.
Support to key small business associations with funding of advisory services and planning activities for industry sectors on employment and training.
Provide options for Certificate II training in telecommunications to all employees, contractors and small business operators. A nation skilled in technology in a nation focused on the present and the future. Technology and telecommunications are foundation skills in the
Provide financial support to employers with apprenticeships to alleviate the extra costs recently imposed by the Fair Work Commission.
Local Economic Development
Provide funding for four trials on empowering local business communities (or on line business communities) to develop their own economic development plans that focus on business needs for training, feasibility studies and support to firms undergoing change.