Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
subscribe to our newsletter

Small businesses demand a fair go for reform

Almost two in three SMEs support a simpler Fair Work Act, according to new research.

The latest MYOB SME Snapshot survey quizzed more than 500 of the accounting software provider’s SME clients in an attempt to gauge their opinion concerning SME-centric issues.

MYOB chief executive Tim Reed said that with 122 federal awards, the Fair Work Act is unnecessarily complicated.

Advertisement
Advertisement

“SME operators want to do the right thing by their people, but keeping track of all the details across multiple awards can be tough. From speaking to our clients, we know it can be a real barrier to hiring new staff,” he said.

“SMEs want to do the right thing but are worried about getting it wrong under a complex system. We’re all for government moving ahead on a simpler Fair Work Act, and it’s great to see this on the agenda of new Small Business Ombudsman, Kate Carnell.”

With recent debate regarding GST reform dying down over recent weeks, the survey found that 52 per cent of SMEs opposed an increase to the GST, with 35 per cent indicating that they would be concerned that customers would spend less as a result.

“With the prime minister now taking a GST change off the cards, we’d encourage government to now take some simple steps to reduce the GST compliance burden on small business,” Mr Reed said.

“In an environment that’s all about boosting productivity and innovation, reducing the $13.7 billion that SMEs spend complying with GST and giving them back the 84 hours a year that SMEs spend on average collecting tax for the Australian government will free them up to grow their businesses and be more successful.”

[Related: Australian SMEs cautious over currency risk]

Small businesses demand a fair go for reform
mortgagebusiness

Latest News

The federal government has committed an additional $130 billion in support to protect jobs threatened by the economic fallout from the cor...

New government-led interventions in the housing market in response to the coronavirus outbreak are set to further hinder transaction activit...

The number of owners withdrawing their property from auction soared to 40 per cent last week, following the introduction of a ban on auction...

FROM THE WEB
podcast

LATEST PODCAST: Further relief for SMEs and borrowers

Do you think Australia will move to quantitative easing this year?

Why we’ll keep delivering for our communities in the face of COVID-19

alex

As Australia tries to keep pace with a rapidly changing business and social landscape in the wake of COVID-19, Momentum Media is leading the way delivering essential content to our communities, writes Alex Whitlock, director of Mortgage Business.

Read more

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.