Business Services Industry
Small business yet to feel the benefits.
Australasian Business Intelligence, June, 2002
ABIX via COMTEX) -- It is two years since the goods and services tax (GST) was introduced in Australia. Research by Binh Tran Nam, of the Australian Taxation Studies Program of the University of New South Wales, and Monash University's John Glover has found that compliance costs for small business with the new tax have been twice as high as estimated by the Australian Government. The major benefit of the new tax, a simpler tax system, has yet to be felt. The research found that small businesses in Australia spent an average of $A4,600 on GST start-up costs.
Publication Date: 1 July 2002
UNIVERSITY OF NEW SOUTH WALES: MONASH UNIVERSITY
By Fiona Buffini
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