Published on 22 Mar 00
by VICTORIAN DIVISION, THE TAX INSTITUTE
Changes in business taxation have accelerated and multiplied since the establishment of the Ralph Review. Under A Simplified Tax System (STS) small businesses will obtain some exemptions from the significant changes that have been proposed under the tax reform measures, such as the removal of accelerated depreciation. The purpose of this paper is to provide a summary of the benefits of the STS and the capital gains tax measures as well as some of the issues that need to be considered in determining whether to elect to adopt the STS measures.