Wayward bullets: more small business tax concessions
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With the advent of the global financial crisis, this is clearly a challenging time for small business. Whilst the former Coalition Government introduced a succession of small business incentives, as commentators have noted these ‘benefits' are somewhat problematical. In light of the recent Labor Government proposals for further small business incentives (the 20 per cent PAYG instalment reduction and the bonus depreciation deduction for businesses) and the current review of Australian taxation, Australia’s Future Tax System, (hereinafter known as the Henry Review), this paper examines the small business entity (SBE) tax concessions. This paper calls for a more targeted and simpler approach to the taxation of small business.