Small business and family firm taxation in Australia

The taxation of small businesses in Australia is extremely complex and lacks policy consistency and direction Income tax often plays too large a part in business structure decisions. Marked differences exist between small business profits, taxable income and business owners’ access to business-generated cash. Family firms are ubiquitous, but no tax policy exist for family firms. This project uses evidence-based research to develop small business and family firm tax policy and business restructure and cash flow strategies. The project focuses particularly on small businesses in remote, rural and regional Australia, partnering with RAPAD , the peak regional economic development body for Outback Queensland in the Central West of the State in a three year pilot study entitled: The impact of business form and access to cash on Central West Queensland primary producers and small businesses: RAPAD region policy solutions, scalable rural economic development and business innovation.