Opposition Grows Against Government's Tax Deductions Proposal for Late Fees
AI-Generated Summary
There is increasing opposition to the government's proposal to eliminate tax deductions for late fees imposed by the Australian Taxation Office on small businesses.
A fresh row has erupted over support for small business following attempts by the government to scrap provisions that enable firms that do not pay their tax on time to deduct the late fee charged by the Australian Taxation Office.
The Coalition and the Senate crossbench have opposed the measure, first announced in December 2023 and designed to raise $500 million a year. However, the government has included it in an omnibus bill that encompasses unrelated but popular measures.
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