Australia has a Ministry of Small Business, and its chief – MP Bruce Billson – is embracing a plan by the National Australia Bank, calling for the abolition of Business Activity Statements, which are quarterly returns on Value Added Tax inputs and outputs. Billson also has Standard Business Reporting on his radar as another way to make […]
A guest editorial in The Age newspaper details red tape reduction efforts that will be of particular benefit to small and medium sized businesses. In addition to reducing tax filing requirements outright for almost 500.000 businesses, the article stresses the efforts of the Australian government’s use of Standard Business Reporting to reduce paperwork burdens, freeing […]
Investors don’t want paper according to research by the University of Leipzig in Germany, with 96 percent of investors basing their investment decisions on information they find online (we assume the other 4% are using a dart board). And governments around the world are right behind them. According to Grant Hehir, Auditor-General of New South Wales, […]
In a joint submission, CPA Australia and the Institute of Chartered Accountants in Australia (ICAA) supported mandated use of XBRL for reporting with the stipulations that is be only for listed companies and with at least a five year implementation period. Read the article. http://www.istockphoto.com/photo/currency-and-paper-money-of-australia-26324001?st=c61c6a0
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