THE INFLUENCE OF TAX REFORM ON ENTREPRENEURSHIP AND MANAGEMENT PRACTICES IN THE SMALL BUSINESS SECTOR IN AUSTRALIA

Extensive tax reform has been ongoing in Australia since 1985 and many of these reforms have had major impact on the reporting requirements for small businesses. The vast majority of businesses in Australia are small businesses and they are a major source of employment and economic activity. Less regulation and a more sound understanding of small businesses could allow owners to give greater attention to being entrepreneurial, to better manage their cash and other liquid assets, and to implement more effective management practices. Communication, a shared vision, and a commitment to clear, consistent and integrated policies by governments are needed.