Tag: carbon taxSubscribe 5 Posts
There is still a lot of confusion in the community about the impact of the carbon price on businesses. We recently caught up with The Minister for Small Business, The Hon Brendan O’Connor MP to get some of the latest information on this topic. The most likely impact of the carbon tax on many SMEs will be through electricity prices, what will be the likely impact of this on electricity prices? The price paid for electricity by a typical small business is expected to rise by around 10 per cent and for most businesses electricity makes up 2 per cent or less of costs. In other words, for a small business with a total of $100,000 of expenses per year, their electricity bill is expected to only rise by around $4 per week because of carbon pricing. For further information on your electricity bill, click here.
A study released by the Climate Institute showed that just 28% of Aussie voters supported a carbon tax...until it was explained to them properly. Then the figure doubled. The carbon tax is one of the major legislative, political and regulatory changes introduced in Australia from 1 July 2012 that will no doubt impact your business. Do you properly understand the carbon tax? Are you for or against it? In this study, 47% shifted their preference to favour the carbon tax because it was explained that the tax revenue raised would be spent on household assistance, business support and renewable energy. So has your business benefited yet from the government's carbon tax revenue distribution?
Confused about the carbon tax? Wondering why Australia needs it and what it means for your business? Trying to make up your mind whether it’s an opportunity or a risk? You’re not alone. We recently did some digging around, tapping the pulse of business owners and managers on their thoughts about the carbon tax. We found many had more questions than answers about how it will affect them. The recent MYOB Insights Panel - held with almost 400 of your peers - discovered only 36% were ‘well aware’ of the carbon tax introduction. Tellingly, 60% said they were either fairly or very concerned about it. So, plenty of business owners are in the same situation despite the tax being only weeks away.
With the countdown to the end of Financial Year officially on (just 52 sleeps to go!), it’s time for business owners around the nation to ensure all their books and accounts are in order so they start off FY2012-13 in tip top shape. It’s also time for many to get prepared for the year ahead, and that includes preparing for several changes to tax compliance. So are we ready? It appears not. During our recent business owner and management insights panel, we found that Australian business owners have significant knowledge ‘black spots’ about the many compliance updates being introduced in the new financial year (that’s right, the one that kicks off in under two months!), putting relationships with their employees and the ATO at risk.
MYOB CEO, Tim Reed spoke to Alan Jones on Sydney's 2GB radio last Wednesday about MYOB carbon tax survey, and what impact this new tax might have on Australian SME's. Click here to listen to the interview.