ATO ramp up of small business debt collection
Master Builders Australia has published a news item saying the ATO is stepping up its debt collection against small businesses. The text provided gives no further detail on the measures, timing or amounts.
Is the ATO cracking down on small business tax debt, and what does it mean for my trade business?
Builders and other trade businesses with outstanding tax debts may face firmer ATO collection action, which could strain cash flow. Details are not in the source text, so check the ATO or Master Builders directly.
Related
Trust legislation more lead in the saddle for small business
Master Builders Australia says the newly introduced trust legislation has not addressed the significant concerns it raised earlier. The article excerpt is cut off, so further detail on the bill's content is not available.
Why it matters: Builders and other trade contractors that operate through trust structures could be affected by the new rules, though the excerpt does not say how. Details on compliance and tax impacts are not yet clear.
Construction needs an effective enforcer not a paperwork obsession
The Housing Industry Association (HIA) warns that proposed national construction standards and new procurement rules miss the mark. It says the measures land hardest on home builders and argues for an effective enforcer rather than more paperwork.
Why it matters: Home builders and small residential contractors could face extra compliance paperwork and procurement requirements, adding admin time and cost to jobs without necessarily lifting building quality.
Potential Commonwealth Standards for the Construction Industry
The Housing Industry Association (HIA) says it backs a lawful, safe, productive and sustainable construction industry and has long called for structural reform. It says the consultation on potential Commonwealth standards proposes several measures it is concerned about.
Why it matters: Commonwealth standards could add new compliance requirements for builders and subcontractors across residential construction. The article gives no detail yet, so the practical impact on trades is unclear.