MYOB shows more work needed on Red Tape

30/1/07
The MYOB national small business survey results released today confirm that small business operators are still struggling with GST compliance and the Federal Government is not doing enough for the small business sector.
Small Business Minister Margaret Quirk said the survey showed 68 per cent of respondents listed business activity statement (BAS) reporting and 56 per cent listed daily GST transactions amongst the three highest 'red tape' burdens for small business.
She said the GST and BAS statements were still a nightmare for many small business operators.
"The State Government has been working with the small business sector to overcome some of the hurdles set up by the Federal Government's GST regime," Ms Quirk said.
"The Small Business Development Corporation (SBDC) provides free information and guidance on how to meet the compliance requirements of the GST, and we have also made provision for an officer from the Australian Tax Office to be on hand at SBDC to answer any other tax queries."
The Minister will also be chairing the Small Business Ministerial Council (SBMC) meeting to be held in Perth later this year.
The council consists of Small Business Ministers from each State and Territory together with a Federal Government representative.
"As chairperson of the SBMC for 2007, I will be giving top priority to the issues of cutting red tape wherever possible and lightening compliance burdens placed on small business," Ms Quirk said.
"Red tape impacts disproportionately on small businesses because they do not have the money or staff to devote to compliance tasks.
"There is a physical limit to how much compliance a small business can do and stay afloat."
The MYOB national survey indicated that two thirds of small businesses are predicting an improvement in business performance over the next 12 months.
"Of the remaining one third of businesses not expecting an increase in the coming year, 59 per cent cited high petrol prices as the likely cause, while interest rates continue to be the main concern for small businesses around the country," Ms Quirk said.
A recent survey of SBDC's Ready Response Network conducted in December 2006 indicated that 76 per cent of small businesses in Western Australia expect profitability either to increase or stay the same and 65 per cent expected sales and revenue to increase over the next 12 months.
Minister's office - 9213 7000