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Review of Small Business Tax Concessions

Background

The Board of Taxation has conducted a review of Australia’s small business tax concessions. The Board’s review involved assessing the effectiveness of existing concessions and, where appropriate, recommending new concessionary approaches to the Government.

Working Group

The Board has appointed its members Dr Mark Pizzacalla and Mr Peter Quiggin, PSM to lead the work on the review. Dr Pizzacalla and Mr Quiggin were assisted by a Reference Group comprising small business representatives, professional advisers and academics.

Consultation

The Board has developed a Consultation Guide [PDF 483KB|DOCX 376KB] for this review. The Guide outlined the current suite of tax concessions applying to small business and sets out the principles for evaluating and improving the framework of tax relief. It also posed a number of questions and explained how small business owners and other stakeholders could participate in the review.

Board Report

The Board completed its report in March 2019.

Submissions

The Board received 41 submissions.

Further information

For further information about the Board’s report: review of small business tax concessions, please contact the Board of Taxation Secretariat at taxboard@treasury.gov.au or 02 6263 4366.

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