Family Business Australia was really pleased with the measures announced for small business in the Budget, and particularly with the mention of Family Business in the Treasurer’s budget speech. There have been a number of interesting interactions with the Federal Government lately, with FBA becoming the ‘go to’ organisation to connect government with real businesses, and their issues.
I have been working on a Board of Taxation panel to give feedback on the Review of Tax Impediments for Small Business; we submitted to the enquiry last year and a round of consultations is continuing.
Treasury is setting up a Small Business Consultation panel to feed information to the Fix It Squads which are responsible for examining how to reduce red tape for small business. We have a seat on the panel so can ask for FBA member input depending on the topic being investigated.
The ATO are developing online tools and information for privately held businesses, and have a new approach around tailored engagement. FBA is involved in the ATO’s consultation work.
The Fair Work Commission has run a number of pilots with the intention of speeding up the general protections applications (often unfair dismissals) and their appeals, and the enterprise agreement approvals process. Feel free to contact me should you be interested in knowing more about this work.
Around the world, the importance of family business is being increasingly recognised. The European Union has just issued a short report into family business which I have been able to pass on to the Australian government. The Report “recognises that family businesses are the single biggest source of employment in the private sector; therefore what is beneficial to continuity, renewal and growth in the family business sector is conducive to continuity, renewal and growth in the European economy.” We couldn’t have said it better ourselves!