COSBOAtoday expressed deep concern over the call by Labor’s left to remove all taxcuts for small business if they win government at the next election, asreported in recent media.
PeterStrong, CEO of COSBOA, stated today "businesses cannot plan with confidence ifthey are not sure what the tax rules will be in twelve months time. These taxcuts are about employment, businesses have been able to plan to employ morepeople or have the confidence to make casual staff permanent or part timeemployees full time. Unless Labor can come out and guarantee the tax cutswill remain then confidence in employing will drop."
Mr Strongcontinued "we have previously expressed concern about political parties playinggames with the tax system. In the first Hockey budget in 2013 the governmentback dated tax changes for small business and we rightfully expressed deepconcern about that type of practice, it did not engender confidence from oursector. While the next few Hockey budgets were very good for smallbusiness it is a lesson that should not be forgotten by the Labor left."
COSBOAbelieves that the whole tax system needs to be reviewed and that in particularthe GST and its rate and application needs to be discussed. There is anopportunity to make the tax system fairer and productive rather than one thatis confusing and impedes growth.
Mr Strongadded ‘the Australian economy is in good condition and we need to keep it thatway, our high wages and relatively low employment rate are under threat if wecreate uncertainty for the great group of employers and innovators who are thesmall business community. The left wing of the Labor Party need tostop trying to stop change and actually work with it, otherwise there will bemore poor people in Australia, which may just suit there need?"
"Anydiscussion about removing the already legislated tax cuts for small business isam slap in the face for all small business owners ", said Mr Strong.
"We call onMr Shorten to immediately rule out any retrospective roll back of the tax cutsthat have already been put in place for small businesses earning less than $50Mper year", said Mr Strong.
To notimmediately do so would be to put the interests of big business ahead of themore than 7.5M everyday Australians who make a living by working in smallbusiness" Mr Strong said. ---
