Monday, 23 April 2012
The Coalition will reduce the compliance burden on small business through several measures.
• The Coalition will adopt the principle of minimum effective regulation for proposals to amend or extend compliance burdens on small business.
• Under the Coalition, every Minister will be required to guard against growth in the regulatory burden and requested, where possible, to reduce existing red-tape. This responsibility will be included in the job description of every Minister, and they will be accountable to the Prime Minister and the Parliament for their performance.
• The Australian Accounting Standards Board will be required to justify additional disclosure and compliance obligations being imposed on non-listed enterprises in excess of adopting International Financial Reporting Standard for small to medium size businesses.
The Coalition is committed to the small business sector and determined to ensure that government makes it easier, not harder, for small business to prosper and grow.
Only the Coalition has a plan for real action for small business.