The slowing economy has hit smaller accounting firms harder than the big players, judging by revenue data released over the past month, with practices in Western Australia affected more than those in other states.
The annual cost to small business owners of complying with the GST is upwards of $13 billion, according to a recent survey, adding to calls for the federal government to address business taxation in its tax review white paper this year.
The new management team at accounting firm Lawrence Business Management has agreed to buy the business for $7.3 million cash from listed company Countplus, after two years of restructuring.
