Australia considers tax discounts for small businesses to ease cash flow struggles and boost entrepreneurship.

Small businesses in Australia are struggling with cash flow issues, with 60% having little to no cash reserves and one in five having zero reserves. A proposed solution is a tax discount scheme similar to Singapore's, which offers significant tax exemptions for new businesses, helping them retain more early-stage earnings. This could encourage more entrepreneurship, especially among younger generations, and support small businesses that contribute significantly to Australia's economy, providing jobs for 42% of the private workforce.

November 24, 2024
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