Small businesses contribution to Australian economy in decline
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Hornsby Based Accountants, Business Tax Agents and Consultants
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SMSF sector sees robust growth
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Payment Times Reporting Scheme to undergo reform
Small businesses are vulnerable to late payments. To address this, the federal government has released a new review of the Payment Times Reporting Act 2020.
The review highlights how faster payments can reduce financial burdens for small businesses and, as a result, support higher wages and profits. This has a direct impact on the economy by increasing employment and economic opportunities.