Abbott seeks to clear tax impedements to small business

THE Abbott government has begun a review of all tax measures that are hindering the small business sector.

Finance Minister Mathias Cormann and Small Business Minister Bruce Billson announced the board of taxation would conduct the six-month review.

A statement from Senator Cormann's office said the review would complement the tax white paper being developed, with an aim to "unshackle" the small business sector.

"We want small business owners to spend less time on paperwork and more precious time and resources on growing their business," it said.

"We can start by making their dealings with the Australian Taxation Office simpler, which is what this review is about."

The review will report back to the government before the end of August.


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