Queensland Business, Most Taxed in Australia at $7B Annually
The proverbial red tape prevalent in most governments has largely affected small businesses in Queensland, which have been thumped $7 billion in taxes, fees and other charges annually.
Tons of pages of regulations have hindered some businesses to strategize growth plans. One manufacturer said he transferred operations to China because the costs of compliance were becoming too heavy.
The Blueprint for Fighting Over-Regulation report, provided to The Courier-Mail, found that in the most recent financial year, Queensland increased the cost of red tape by 6.6 per cent. This effectively increases the overall burden up to 31.6 per cent since a 2007 released Productivity Commission Report.
Most businesses said the escalating paperwork -- which could reach to more than 90,000 pages of regulation governing the sector -- and the extra cost of taxes and levies hampers growth and investment.
Of all businesses in Queensland, it is the transport operators who are most struggling to meet compliance costs. They are subject to 14 pieces of legislation to stay in business.
Major problems identified by business owners include complicated calculation procedures, hordes of paperwork for mandatory permits and licenses, and countless audits by WorkCover and other payroll tax officials.
Added to that is the passage of the monumental carbon tax legislation. Businesses fear how next year's carbon tax implementation would deliver locally, especially on electricity charges.
In a 2011 National CEO Survey, Queensland businesses, according to the Australian Industry Group met the largest direct cost of compliance, averaging 6.5 per cent of total expenses.