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Quality reform sometimes comes in ‘small’ packages

Wednesday, July 29, 2015

Sometimes important reforms look ‘small’. One of these is the Federal Small Business Ombudsman Bill that is now before Parliament.

It might look like a minor reform but it’s important. It will fill in gaps where the state Small Business Commissioners don’t have jurisdiction. What’s developing is a fairly comprehensive process that enables small business people to achieve some measure of cheap dispute resolution. This is not only good for small business people but also the broader economy. A well functioning economy needs efficiency in how commercial disputes are fixed.  More...

Tax update on self-employed issues: Good news; bad news

Wednesday, July 15, 2015

Good news: Income splitting
ICA receives queries from self-employed people who have become caught up in the Personal Service Income Tax rules. They are denied tax deductions and prevented from sharing income with their spouses. With such queries we always first ask if they are a partnership. That’s because income-splitting by partnerships is legal and allowed by the ATO. However, some ATO case officers and many accountants don’t know this.  More...

‘Employment’ security exists as a legal construct, not as an economic or human reality

Wednesday, July 01, 2015

From time to time, we’ve highlighted the debate occurring in the UK over the rise of the self-employed. Some commentators see this as a bad thing.

In mid-June, the Committee for the Economic Development of Australia (CEDA) released a report on the future of Australia’s workforce. The full report is here. ICA's Executive Director, Ken Phillips, was asked to contribute a chapter on independent contracting. He cited global trends, presenting facts and some opinions. His CEDA chapter is here. More...

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