11 May 2010

Small business not looking forward to cost of changing GST

3:33 pm on 11 May 2010

The majority of small and medium sized-businesses are opposed to a proposed rise in GST, because the cost of implementing the change is too high.

That is the conclusion of the latest business monitor survey from the accounting software firm MYOB.

The survey was of 1000 small and medium-sized businesses. More than half were found to be unhappy with a proposed increase in GST from 12.5% to 15% in the Budget on 20 May.

MYOB general manager Julian Smith says it is not the increase that they are opposed to, but the cost of implementing the change, which puts a burden on their business.