The Real Estate Institute of Australia (REIA) is pleased to see the Coalition’s Policy to Boost Productivity and Reduce Regulation identifies measures that will reduce the red tape burden and lift productivity for small business.
REIA President, Mr Peter Bushby says, “The commitment to implement an option to send compulsory superannuation payments on behalf of employees to the Australian Taxation Office is a sensible move.”
“The Coalition’s announcement that the Commonwealth would administer Paid Parental Leave payments is also most welcome.”
“Reducing regulation boosts productivity and is a positive step towards lowering the cost of conducting business.”
“REIA’s submission to the Coalition’s Red Tape Reduction Taskforce recommended these policies.”
“We are thrilled by commitments that the administration of Paid Parental Leave (PPL) payments will be transferred from business to the Commonwealth and small business be allowed to transfer compulsory superannuation payments made on behalf of workers directly to the Australian Taxation Office.”
“The PPL scheme currently poses a disproportionate administrative burden in terms of time and costs on small businesses.”
“Administering payments, maintaining records, meeting compliance and reporting requirements and undergoing the appropriate system upgrades are a hassle for our members and small businesses around Australia.”
“The administration of superannuation payments similarly places additional costs on small business when it is easier and more efficient to bundle these up with PAYG payments to the ATO.”
“As a small business owner myself, I know that we have better things to be doing with our Sundays than being unpaid tax collectors for the Government. We will welcome the extra time to spend with our families and friends and catching up on jobs around the house,” concluded Mr Bushby.