Small business tax cuts 'not enough', says IPA

The Institute of Public Accountants (IPA) says it broadly supports the proposed small business tax cut, but has called for the cut to be applied to a broader range of businesses.

While the IPA said the proposed 1.5 per cent cut is a step in the right direction, chief executive Andrew Conway said it does not go far enough.

“We are very pleased that the government has started on this process, but as it stands the proposed tax cut only applies to those small businesses that are incorporated,"saidMr Conway.

“We have been long advocating for a concessionary rate of tax for small business income to take into account the regressive burden placed on small business and to encourage and reward entrepreneurial activity.”

Mr Conway said it has been refreshing to hear that incoming treasury secretary John Fraser has been saying tax cuts are a better way of stimulating the economy than government spending.
“We couldn’t agree more,” he said.

“There are thousands of small businesses that are doing it tough and a concessionary rate of tax would be of significant benefit, so we are hoping the government will complete the job in the federal Budget by introducing other measures aimed at assisting all small business entities.

“We need to provide relief for small businesses to encourage their productivity, entrepreneurialism and growth,” Mr Conway said.

By Staff Reporter
16th March 2015
accountantsdaily.com.au

Cristy Houghton

Embarketing, 48 Johnston Street, Wagga Wagga, NSW, 2650

Cristy's unique career has taken her from country NSW to the city lights of Clarendon Street South Melbourne and back again. With an early career in radio as a copywriter and creative strategist, she is now a Jill of all trades as a graphic designer, website builder, blog writer, video editor, social media manager, marketing strategist and more. 

In fact, give her any task and this chick will figure out how to do it! Go on, we dare you!

No, really, we DARE you!!

Cristy has won two Australian Commercial Radio Awards (ACRAs) for Best Ad and Best Sales Promotion, and even has an 'Employee of the Year' certificate with her name on it.

Cristy and her husband James have traveled extensively through Russia, China and South East Asia, and have two fur-babies, Sooty (cat) and Panda (puppy). Cristy loves drinking coffee, meeting people to drink coffee, coffee tasting and coffee flavoured cocktails. She also enjoys road trips, TED Talks and watching cat videos on youtube.