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ECONOMICS REFERENCES COMMITTEE--REFERENCE

Senator Lees, at the request of the Leader of the Australian Democrats

(Senator Kernot), amended Senator Kernot's notice of motion by leave

and, pursuant to notice of motion not objected to as a formal motion,

moved--That the following matters be referred to the Economics

References Committee for inquiry and report on or before 30 March 1995:

(a) the impact of the timing of the payments of taxation,

particularly provisional tax, PAYE tax, tax under the prescribed

payments system and fringe benefits tax, company tax and

wholesale sales tax, on the cashflows of small business;

(b) changes in the overall burden of tax on small business, in

particular the impact of tax changes introduced by and since the

1993 budget, including increases in excise and wholesale sales

tax;

(c) whether the tax system can be improved to prevent tax falling

due prior to the taxable income actually being received by small

business;

(d) the appropriateness of the quantum, and current form, of the

provisional tax uplift factor;

(e) the appropriateness of the thresholds for the early payment of

company tax for small business;

(f) the potential for reducing tax compliance costs for small

business through the improvement of tax payment arrangements;

and

(g) such other matters as the committee considers to be reasonably

relevant to the above terms of reference on improving the tax

treatment of small business.

Question put and passed.