Australian small businesses are numerous, diverse, and make an important contribution to the Australian economy. These businesses adopt different legal and management structures, and may be driven by different preferences and profit motives than larger businesses.
Navigating a complex tax system is disproportionately burdensome for small businesses, especially as certain features of the system can encourage them to adopt particular legal structures that are costly to establish and maintain.
The tax law provides a number of concessions intended to benefit small businesses, but these may add to the complexity and compliance burden for small businesses.
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