CANBERRA URGED TO “STOP THE WAR” ON SMALL BUSINESS

Business Sydney said today the “war on small business” over the removal of surcharges on card payments has to stop because of the economic damage being done. 

Executive Director Paul Nicolaou said it was time for Canberra to admit the surcharge decision and the ATO’s banning of credit card tax payments was wrong. 

Mr Nicolaou said it was also the poorest of timing for the controversial changes at the start of Small Business Month. 

With small businesses subject to regulation by three tiers of government, all government and council agencies should be required to conduct small business impact reviews before any regulatory changes are forced on them. 

“Small businesses account for 97 per cent of all businesses in NSW and employ 1.7m people with 70 per cent of the businesses located in Greater Sydney,” Mr Nicolaou said. 

“The move on card payment surcharges has forced many small businesses to increase their prices because they still have to pay bank transaction fees. 

“In a double hit, the ATO’s decision to ban credit card payments has robbed small businesses of vital cash flow. 

“These changes have come at a time when small businesses are already under immense pressure due to the cost of living crisis and the understandable reluctance of consumers to spend.

“We also see today that 13 major taxes, charges and rule changes have been pushed through in the past year alone that have added to the squeeze on small business. 

“It’s time for Canberra to acknowledge its mistake and reverse course before it’s too late for struggling small businesses.”