Australian Government Acts To Reduce GST Compliance Costs
The Australian authorities have asked the Board of Taxation to review the legal framework for the administration of the GST, including the Labor government's proposal to reduce the paperwork burden for small business, known as BAS Easy.
"This review is another step towards the Government's goal to save business, particularly small business, time and money," Assistant Treasurer and Minister for Competition Policy and Consumer Affairs, Chris Bowen explained.
"Simplifying the rules that govern how businesses meet their GST obligations, including calculating their GST liability, will reduce red tape and compliance costs for all businesses," he argued.
Bowen has asked the Board of Taxation to consult with stakeholders, including small and large businesses, professional bodies and State and Territory Governments, and to report back to him by the end of December 2008.
The focus of the review will be on streamlining and improving the operation of the GST, reducing compliance costs, and removing anomalies.
"The review will not extend to either the rate of the GST or the scope of goods and services that are subject to GST. I have also asked the Board of Taxation to ensure that its recommendations are broadly revenue neutral," Bowen concluded.
Bowen has asked the Board of Taxation to consult with stakeholders, including small and large businesses, professional bodies and State and Territory Governments, and to report back to him by the end of December 2008.
The focus of the review will be on streamlining and improving the operation of the GST, reducing compliance costs, and removing anomalies.
"The review will not extend to either the rate of the GST or the scope of goods and services that are subject to GST. I have also asked the Board of Taxation to ensure that its recommendations are broadly revenue neutral," Bowen concluded.
"This review is another step towards the Government's goal to save business, particularly small business, time and money," Assistant Treasurer and Minister for Competition Policy and Consumer Affairs, Chris Bowen explained.
"Simplifying the rules that govern how businesses meet their GST obligations, including calculating their GST liability, will reduce red tape and compliance costs for all businesses," he argued.
Bowen has asked the Board of Taxation to consult with stakeholders, including small and large businesses, professional bodies and State and Territory Governments, and to report back to him by the end of December 2008.
The focus of the review will be on streamlining and improving the operation of the GST, reducing compliance costs, and removing anomalies.
"The review will not extend to either the rate of the GST or the scope of goods and services that are subject to GST. I have also asked the Board of Taxation to ensure that its recommendations are broadly revenue neutral," Bowen concluded.
Bowen has asked the Board of Taxation to consult with stakeholders, including small and large businesses, professional bodies and State and Territory Governments, and to report back to him by the end of December 2008.
The focus of the review will be on streamlining and improving the operation of the GST, reducing compliance costs, and removing anomalies.
"The review will not extend to either the rate of the GST or the scope of goods and services that are subject to GST. I have also asked the Board of Taxation to ensure that its recommendations are broadly revenue neutral," Bowen concluded.
