The NSW and Federal Governments have joined forces to slash red tape for small businesses
Fri 22 September 2017 - 1:38 pmNews | Small Business | Starting | Tax, Accounting and Bookkeeping
An inter-governmental partnership to help reduce red tape for new small businesses has been announced today.
The announcement follows the test launch, in April 2017, of a new business registration service to make the process simpler for small businesses, with the aim being to save new business starters $40 million each year.
The Federal Government service, which is still in BETA testing, allows people to apply for multiple business and tax registrations at the same time online at business.gov.au. To date, it has received over 35,000 registration submissions.
“In this testing phase, we want businesses to apply for their registrations and provide feedback on their experience so that we can make the service even better,” said the Federal Minister for Revenue and Financial Services, Kelly O’Dwyer.
“It has reduced the average time taken to register for an ABN from over an hour to less than 15 minutes. The service also supports businesses to meet their obligations and avoid applying for registrations that they don’t need.”
The Assistant Minister for Industry, Innovation and Science, Craig Laundy said the Federal Government was working with the states to join up registration and licensing services across jurisdictions to save business even more time and money.
“We are working with Service NSW to link the business registration service with state systems to help make it faster and easier to start a café or restaurant,” Laundry said. “We have allocated over $9 million in the 2017–18 Budget to replicate this project for other business sectors, and in other parts of Australia.”
The Federal Government is also making the code for the service publically available so the private sector can seamlessly connect their customers to business registration services and find innovative ways to meet their customers’ specific needs.
NSW Deputy Premier and Minister for Small Business John Barilaro said the NSW Government is dedicated to reducing red tape for small businesses to ensure they can “startup easily, be successful and continue to create jobs in our great State”.
Meanwhile, NSW Minister for Finance, Services and Property Victor Dominello said the inter-governmental partnership provides small businesses with a “21st century one-stop shop service, dramatically reducing the piles of duplicative paperwork”.
“Service NSW’s Easy to Do Business program has made life significantly easier for people wishing to start a café, restaurant or small bar by reducing the time it takes to start a business from 18 months to just three months,” he said. “It is great to join forces with the Australian Government to slash red tape and duplication for small business.”
The service is being developed collaboratively with the Department of Industry, Innovation and Science, the Australian Taxation Office, the Australian Securities and Investments Commission, and the Department of the Treasury.