The Coalition’s Policy to Boost Productivity and Reduce Regulation is being hailed by the Real Estate Institute of Australia (REIA), which says the document identifies measures which will reduce ‘red tape burden and lift productivity’ for small business owners.
“The commitment to implement an option to send compulsory superannuation payments on behalf of employees to the ATO is a sensible move,” says REIA president, Peter Bushby.
Bushby says the announcement that the Commonwealth would administer paid parental leave payments – which he argues currently pose a ‘disproportionate administrative burden’ on small business owners - is also welcome.
“Administering payments, maintaining records, meeting compliance and reporting requirements and undergoing the appropriate system upgrades are a hassle for our members and small businesses around Australia.”
He says the administration of superannuation payments also places additional costs on SMEs, when it’s easier and more efficient to combine these with PAYG payments to the ATO
“As a small business owner myself, I know that we have better things to be doing with our Sundays than being unpaid tax collectors for the Government. We will welcome the extra time to spend with our families and friends and catching up on jobs around the house.”