05/10/2011 - 11:03

Broad tax reform needed: survey

05/10/2011 - 11:03

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Broad tax reform needed: survey

A SURVEY released by accounting firm BDO has shown 74 per cent of Australian businesses consider reviewing the GST as essential to any discussion of substantive tax reform.

Eighty per cent of respondents to the survey said tax compliance was giving them “a headache”, while only 10 per cent of those surveyed believed Australia’s tax system promoted it as a desirable investment location.

Almost 60 per cent of SMEs believe the tax system does not adequately cater for their sector, which was a view shared by only 37 per cent of larger public and private companies.

In addition, state payroll taxes and stamp duties were blamed by 84 per cent for making doing business too complex and expensive.

 

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