The Rudd Government is to consider two new measures to simplify small business taxation and reduce small business compliance costs. The potential changes, relating to income tax and GST, are designed to make it easier for small businesses to comply with their tax obligations.An entity flow-through tax regime, developed by the Institute of Chartered Accountants and Deloitte, proposes that ownership arrangements will be set to one side for income tax purposes. Instead, the entity is treated like a... ...Read more »