Service to Assist ATO disagreements
The Federal Government is to set up a service to support small businesses resolving issues with the Australian Taxation Office (ATO).
The Small Business Concierge Service will work under the Australian Small Business and Family Enterprise Ombudsman's office, providing advice about the Administrative Appeals Tribunal (AAT) process.
The move is in response to allegations that the ATO was using heavy-handed tactics with small business owners.
Small Business Payroll Tax Changes in NSW
The New South Wales government has revealed plans to reform the state’s payroll system.
The plans will allow small businesses with a payroll tax liability under $20,000 to submit the tax on an annual basis, rather than monthly.
It’s expected around 11,000 small businesses will be affected by the change.
Larger businesses with a payroll tax liability under $ 150,000 will be able to make pre-set monthly installments based on the previous year’s record.
It’s anticipated the payroll tax changes will save small businesses around 16 hours of work per week or collectively 10 million dollars a year by 2021.
Small Business Payment Relief
The Prime Minister has announced a new plan to ensure small businesses get paid on time.
The move is in response to claims that cash-flow and late payments have impeded the growth of many small businesses.
From July 1st, 2019 the new procurement policy will mean invoices for government contracts under $1million will be paid within 20 days.
In an effort to curb late payments from large businesses, companies with more than $100 million in turnover will be required to make the payment information public.
Small business payment times will be placed on the Council of Australian Governments agenda for the next meeting on December 12th.
