Writing in the Australian this morning, Assistant Minister for Industry, Innovation and Science, the Hon. Craig Laundy MP lamented the noticeable decline in businesses being established in Australia. So according to Laundy, this decline:
shows the need for Australia to back the creation of new businesses and to support our fast-growing small companies.
I don’t know about other citizens, but Spartacus is shocked, just shocked that businesses aren’t being established in Australia. How can this be with the political and policy leadership coming from Canberra. After all, it was only in September this year that the leading lights of business in Government (Laundy and Kelly “tax them all” O’Dwyer) launched a new plan making it easier to start a new business.
Australian entrepreneurs and businesses who face:
- among the highest energy prices in the world;
- among the highest minimum wages in the world;
- among the highest company tax rates in the world;
- among the most complicated industrial relations systems in the world;
- among the most complicated tax systems in the world; and
- among the most activist regulators in the world;
can now register their company in record time and get your ABN in 15 minutes! Craig and Kelly – take your Orders of Australia out of petty cash for services to business and entrepreneurship. After all, when it comes to starting a business, the first thing entrepreneurs usually think about is how to get an ABN.
But let’s be fair, there is also:
- the bank tax to increase the cost of debt;
- ever expanding ASIC regulations to increase the cost of equity;
- the BEAR regime to allow APRA to ban bank executives and confiscate their property; and
- the ASIC Enforcement Review Taskforce proposal to allow ASIC to ban senior officials in the financial sector.
Hang on there is more. There are the ALP proposals to increase capital gains taxes, income taxes, reduce negative gearing and to further tighten and complicate industrial relations laws.
Jeeze. I don’t know. It sounds like the only business left to start up are compliance services and tax advisory.
Way to go Laundy. Keep up with those great insights. But hey. At least we can get an ABN in 15 minutes.
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