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small business survive the sea of government regulations.
Most small business find
themselves drowning in regulation
and paddling like mad to get up to speed with electronic methods of
Australia,- November 2003 - VillageMall®,
the premier provider of Web-based applications for small business,
added "employee superannuation" reporting to help small
businesses meet their obligations under the new ATO Superannuation
reporting requirements. The first return, under the new
regulations, was due on the 28th October so most small business
are now finding out just how time consuming these new ATO
requirements are. While most of the issues were pointed out by the
Small Business Coalition in their letter to the Minister in
June, no changes were made.
Forty-four per cent of the Australian workforce works in
businesses with fewer than 20 employees, that's lot of
"Complying with government regulations about employment, taxation
and environment hits small and medium Australian businesses for
$17 billion a year in compliance costs – $33,000 each. Tax
compliance costs made up 36 per cent of this." Productivity
Commission chairman Gary Banks told the Small Business Coalition
Its official the Australian Tax Act is now over 7000 pages long.
That‘s a far cry from the original Tax Act of 1936, which was a
mere 120 pages. How ironic it is then, that in 2003, the ”handy
guide‘ to help you do your own tax return, —The Tax Pack“, is now
128 pages in length that‘s 8 pages more than the entire original
1936 Tax Act. And if that‘s not ironic enough, a large chunk of
the new legislation is titled —The Simplified Tax System.
"Reporting requirements of the New Tax
System may have made businesses know more about their enterprises
but compliance costs, a disproportionate tax burden and complexity
are still problems and it appears the Government hasn't got a clue
about the costs its own rules create." says Jo Studdert, The
"Collectively, these issues undermine
the operational efficiency of small business and add unnecessary
costs that can reduce competitiveness," says Roger Cotton, CEO of
the National Institute of Accountants.
"With all this in mind,
VillageMall has extended its existing instant BAS/IAS reporting
with Employee-Superannuation services aimed at meeting the
new ATO requirements.
No small business can risk tax penalties of up to $3300 per
employee for not meeting these new government regulations."
commented Charles Moore.
in May 1999, VillageMall provides a complete
suit of management services to Australian small business
Provides the following services:
Management (full feature accounting, payroll services, including
( including Contacts and Customer Case Tracking)
and employee Expense processing
Force Automation ( leads, prospects, customers)
Document and Records Management
in developing secure
next generation Internet
applications for small
is a privately held company, founded in 1999 and is headquartered in
For more information please email email@example.com
or visit the company Web site at www.Villagemall.com.au.