New trust tax would add growing pressure on small businesses
The Housing Industry Association (HIA) says small businesses across Australia face growing pressure from rising costs, economic uncertainty and more regulation. It argues a proposed new trust tax would add to that burden.
How would a new trust tax affect my small trade business?
Builders and other trades often run through family or discretionary trusts, so a new trust tax could raise their tax bills and compliance work. That adds to already rising business costs.
Key takeaways
- HIA warns small businesses face mounting pressure from several directions at once.
- Rising costs, economic uncertainty and more regulation are the pressures HIA names.
- HIA says a proposed new trust tax would add to the strain on small businesses.
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