Tax Reform For Small Businesses

1433 Words6 Pages
Executive Summary
Tax reform is the crucial component in Government’s policy agenda so as to frame more employment, production, and opportunities. It is mostly initiated for the improvement of levy policy in order to implement social as well as the economic benefits. This policy paper explores and suggest tax reforms for small businesses in Australia and also analyzes the various consequences of its impacts in terms of unemployment, poverty, inequality, and on the overall economy. Since much of the emphasis is on taxation and incentives at the same time, this paper also discusses options for providing loans to startups and small scale industries.
This policy paper suggests that how Australian Government can transform its legislative system and design its tax for small companies and businesses in such a way to overcome the threats brought forward by the 21st century in order to sustain and promote its social as well as the economic progress.
This paper further puts light on the fact that how taxes in regards to small businesses should be lower and whatever taxes are imposed must be paid-up on time. The tax policy should be designed in such a way that it fosters entrepreneurship rather than compensating intrusive tax outlining. Wherever feasible some recommendation has been put forward to streamline the tax plans on small businesses in order to fit taxation system from the frame of Business workouts in this modern era.

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