Productivity would increase and red tape would be eased for small business owners if the Coalition takes power at the next federal election, according to the Real Estate Institute of Australia (REIA).
The Coalition's policy states that compulsory superannuation payments on behalf of employees would be sent to the Australian Taxation Office (ATO) and the Commonwealth would administer paid parental leave (PPL) payments.
REIA president Peter Bushby said the national body was please to see the Opposition's policy measures.
“The commitment to implement an option to send compulsory superannuation payments on behalf of employees to the Australian Taxation Office is a sensible move,” he said.
“Reducing regulation boosts productivity and is a positive step towards lowering the cost of conducting business.”
This is a coup for the REIA, which recommended these policies to the Coalition's Red Tape Reduction Taskforce.
“We are thrilled by commitments that the administration of PPL payments will be transferred from business to the Commonwealth, and small businesses will be allowed to transfer compulsory superannuation payments made on behalf of workers directly to the Australian Taxation Office,” Mr Bushby said.
“The PPL scheme currently poses a disproportionate administrative burden in terms of time and costs on small businesses.
“Administering payments, maintaining records, meeting compliance and reporting requirements and undergoing the appropriate system upgrades are a hassle for our members and small businesses around Australia.”
According to Mr Bushby, the administration of superannuation payments similarly places additional costs on small businesses.
“It is easier and more efficient to bundle these up with PAYG payments to the ATO,” he said.
“As a small business owner myself, I know that we have better things to be doing with our Sundays than being unpaid tax collectors for the government. We will welcome the extra time to spend with our families and friends and catch up on jobs around the house.”