Will the taxman send you broke?

Article Abstract:

There is a general fear that the Australian Taxation Office may close many small businesses that are going through a financial crisis specially because of the tax office firming up debt-collection activities. Industry analysts said that the tax office has shown a missionary zeal in debt collections and the announcements from the office indicate that many small businesses may go into liquidation.

Australia, Forecasts, trends, outlooks, Taxes, Small Business, Credit Collection Techniques, Forecasts and trends, Influence, Market trend/market analysis, Collection (Accounting), Australia. Australian Taxation Office, SOHO

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Small-business owners may miss CGT benefits

Article Abstract:

The capital gains tax concessions and exemptions for small business contained in the Australian government's New Business Tax System (CGT) Act may fail to benefit many owners, according to tax consultant Geoff Petersson. He believes that the first barrier to small business owners obtaining the breaks is the condition that only businesses valued at under A$5 million are eligible.

Laws, regulations and rules, Tax consultants, Interview, Capital gains tax, Petersson, Geoff

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