0 Comments |  Financing a business |  PRINT | 

COSBOA to focus on super and paid parental leave at tax forum

Friday, 30 September 2011 | By Oliver Milman

The peak industry body for small businesses says it will lobby hard at next week’s Tax Summit for the removal of red tape, especially surrounding superannuation and paid parental leave.


The Council of Small Business of Australia claims that various federal governments have ignored small business concerns when it comes to tax by piling on extra regulatory requirements.


The industry group says it will press for a simplification of the tax system at the Canberra summit, which will feature employer and employee representatives.


COSBOA says it sees the forum as an opportunity to reverse the trend of increased compliance demands, pointing to the burden of super, paid parental leave and payroll tax.


Peter Strong, executive director of COSBOA, says: "This forum is an opportunity to increase productivity by removal of compliance demands on small business people.


“We in small business, who make up 96% of all businesses in Australia, are not tax experts or paymasters but we are forced to become involved in a superannuation system where the industry funds in particular are very inefficient in their record keeping and communications processes and where we are the only group who can be fined for getting it wrong.


“Superannuation can be included in normal PAYG payments and the system made much easier and more efficient as a result.”


Strong says he will be at the Forum arguing the case for simplicity and supporting member organisations such as the Real Estate Institute of Australia and the Institute of Public Accountants, who are attending.


“We will also work with other specialist groups such as the Australian Retailers Association in their pursuit of efficiency,” Strong says.


“We will argue hard for removal of red tape and recognition of the difference between big and small business.


“When the big business organisations start to discuss esoteric tax issues that only affect a small number of businesses then we shall keep the focus on the real issues that affect the majority.


“Then big business can do their lobbying in their own time at their own expense.”