The Resource Defining a small business in Australian and New Zealand Taxation : less is more

Defining a small business in Australian and New Zealand Taxation : less is more

Label
Defining a small business in Australian and New Zealand Taxation : less is more
Title
Defining a small business in Australian and New Zealand Taxation : less is more
Creator
Subject
Language
eng
Summary
Small businesses are important to both the Australasian and New Zealand economies, and as a consequence are provided with a number of tax concessions. Two issues need to be addressed in the provision of small business tax concessions. First, the concessions need a convincing policy rationale, and secondly, a small business needs to be defined. There is a need for governments worldwide to justify that a small business tax concessions regime falls within a wider tax policy framework. Assuming concessions are considered to be beneficial than an appropriate definition of a small business needs to be constructed. Defining a small business is an extremely challenging exercise. This article compares the very different approaches taken by the Australian Commonwealth and New Zealand governments in defining small businesses entitled to taxation concessions. Tax concessions and more complex systems tend to favour certain small businesses over others. This article finds that New Zealand's light touch approach of a simpler and more neutral system of small business taxation is preferable
Citation source
In: New Zealand journal of taxation law and policy. - Wellington. - Vol. 22 (2016),
http://library.link/vocab/creatorName
Kenny, P
Language note
English
http://library.link/vocab/subjectName
  • small business corporation
  • tax policy
  • concession
  • business
  • GST
Label
Defining a small business in Australian and New Zealand Taxation : less is more
Instantiates
Publication
Label
Defining a small business in Australian and New Zealand Taxation : less is more
Publication

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