This paper examines the Small Business Entities (SBE) tax concessions that replaced the former Simplified Tax System (STS) concessions on 1 July 2007. Given that the former STS concessions have been subject to much criticism by commentators, professional and government bodies this paper firstly...

The problem of taxpayers claiming income tax loss deductions for hobby/lifestyle activities has been a perennial issue for the Australian income tax system. As a result of the 1999 Review of Business Taxation's (herein after the ‘Review') report the federal Government introduced non-commercial...

As a result of the Commonwealth Government's massive tax reform agenda flowing from the 1999 Ralph Report the non-commercial loss provisions [NCL] applied from the income tax year ended 30 June 2001 to tighten the extent to which individuals can offset losses from non-commercial activities...

Australian federal Governments' increasingly broaden and tinker with a range of small business tax concessions as they seek electoral support from an estimated 2.7 million small businesses. Consequently, a plethora of costly tax concessions for small business has emerged. Their complexity...

This paper examines the Small Business Entities (SBE) income tax accounting concessions (for prepaid expenses; depreciating assets and trading stock ) that replaced the former Simplified Tax System (STS) concessions on 1 July 2007. Given that the former STS concessions have been subject to much...

This paper examines aspects of the policy design processes associated with the 1999 Review of Business Taxation. Given the breadth of the Review’s recommendations this paper focuses on two of its enacted proposals, the non-commercial loss (NCL) rules and the Simplified Tax System (STS). Whilst...