Small businesses worried by carbon tax
The Federal Government has been urged to make clear to Australian small and medium-sized businesses (SMEs) precisely how they are likely to be impacted by the new carbon price regime.
The Institute of Public Accountants (IPA) chief executive, Andrew Conway (pictured), said it had been almost a week since the Government’s release of the carbon price policy, yet small business owners were still no closer to knowing how it would impact them.
“It is clear that more modelling is urgently needed to assess the impact that it will have on SMEs across a range of industries from retailers to manufacturers,” he said.
Conway said it was unfortunate that the only direct benefit that small business owners would receive would be in the reform of personal income tax.
“We are deeply disappointed that there will be no direct assistance provided to the small business sector, which is already feeling the pinch,” he said.
Conway said that as small businesses moved closer to 2012 it would become vital for SMEs to identify new ways of delivering their products and service more efficiently to help minimise the impact on their bottom lines.
“The Government’s jury will be the two million small business owners in Australia who, up to this point, appear to have missed out in having their concerns heard,” he said.
AUTHOR
Mike Taylor
Recommended for you
Financial Services Minister Stephen Jones has shared further details on the second tranche of the Delivering Better Financial Outcomes reforms including modernising best interests duty and reforming Statements of Advice.
The Federal Court has found a company director guilty of operating unregistered managed investment schemes and carrying on a financial services business without holding an AFSL.
The Governance Institute has said ASIC’s governance arrangements are no longer “fit for purpose” in a time when financial markets are quickly innovating and cyber crime becomes a threat.
Compliance professionals working in financial services are facing burnout risk as higher workloads, coupled with the ever-changing regulation, place notable strain on staff.
