Expanding the taxpayer base hinges on educating small businesses about tax benefits, technology, and incentives.
There was a lot of focus in the 2024 Budget Speech around specific tax changes, but it’s important to look at the bigger picture when it comes to expanding the taxpayer base.
Just 160,000 registered for SBC in 2022/23 and this figure has increased very little in the last few years. There needs to be greater education on the different types of tax and an understanding of how they can benefit small business owners.To continue building the taxpayer base, we need to help businesses use the right technology.
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