SME organisations call on government to change small business tax
Smarter tax reforms and a more serious attempt at reducing red tape top the wish-list of small business owners ahead of tonight's budget.
Margy Osmond, the chief executive of the New South Wales Chamber of Commerce, is focused on how treasurer Peter Costello plans to break up the distribution of GST revenue to the states. "We maintain that the existing formula used to distribute GST to the states is grossly unfair to NSW and gives states like Queensland an unfair advantage when it comes to attracting business, creating jobs and critical infrastructure," she said. "The tax of most concern to businesses in NSW was payroll tax, not the one-off transactional taxes that the federal Government wants abolished." Ms Osmond wants the budget to deal more effectively with the revenue carve-up at a time when the bigger states - NSW and Victoria - are growing at relatively slower rates compared with others.
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