The Resource Getting money out of SME companies

Getting money out of SME companies

Getting money out of SME companies
Getting money out of SME companies
It is a common expectation that wealth accumulated in small and medium-sized enterprises (SMEs) will pass to its proprietors and their families. Because companies are taxed at a lower rate of tax than many individuals, it is legitimate to ensure that money which has been accumulated as a result of a preferential tax rate cannot be enjoyed by the owners or their associates without the requisite make-up tax being paid. There is, however, also a need to ensure that tax law conforms to commercial structures and practices, and is comprehensible to taxpayers. This article examines in detail the taxation regime that affects the ability of SME proprietors to release money from their companies. The author concludes that the present combination of complex integrity provisions and legislative concepts which are either counter-intuitive or simply incomprehensible to business people means that the costs of compliance for SMEs have increased and will continue to increase
Citation source
In: Taxation in Australia. - Sydney. - Vol. 47 (2012),
Riordan, T
Language note
  • SME
  • tax policy
Getting money out of SME companies

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