Labor has strengthened its bid for the small business vote ahead of the May federal election, promising a plan to require invoices are paid within 30 days to benefit 2.4 million firms.said more than 2 million firms and millions of employees would benefit from quicker payment terms and a plan to reduce transaction costs through so-called “least cost routing”.
“A lack of federal leadership has compounded the anxiety felt by small business owners, eroding confidence and certainty about the future.” Small business is a traditional constituency of the Coalition. But Mr Marles accused the Morrison government of failing to provide badly needed additional support during the COVID-19 economic recovery.“Labor will deliver a targeted plan to give small business the confidence they need coming out of the pandemic and recovering from bushfires and floods,” he said.
Mr Marles promised a genuine collaboration with small business owners and operators to reduce the time they spend completing tax administration.COVID-19 fatigue had heightened the risk of operators going under, calling for more urgent support to the sectorShe called for attention on tax, superannuation, industrial relations and immigration, as well as a suspension on the creation of any new compliance processes for two years.
Yeah right
Well done, and great for productivity too! This will put a stop to small businesses having to halt new work until their overdraft recovers from big business not paying their bills on time.