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Evans, Chris; Carlon, Shirley; Massey, Darren --- "Record Keeping Practices and Tax Compliance of SME's" [2005] eJlTaxR 13; (2005) 3(2) eJournal of Tax Research 288

[1] This research was funded by CPA Australia under the Small Business Research Grant Scheme 2004. The authors acknowledge the financial support for the project provided by CPA Australia. Views expressed in this article are those of the authors and not necessarily those of CPA Australia.

[2] Professor of Taxation and Director, Atax, UNSW.

[3] Lecturer in Taxation and Accounting, Atax, UNSW.

[4] At the time that this project was undertaken, Darren was a Research Assistant at Atax, UNSW. He is now an analyst with the Reserve Bank of Australia.

[5] Defined as an independently owned and operated business employing fewer than 20 people (ABS, 2002). The terms ’small business’ or ‘SME’ (small and medium size enterprises) are used interchangeably throughout this paper.

[6] Selected from CPA Australia members who provide tax and accounting services to the small business sector. The terms ‘CPA Australia members’, ‘advisers’ and ‘practitioners’ are used interchangeably throughout this paper.

[7] Wholesale Sales Tax was replaced with the Goods and Services Tax (GST) from 1 July 2000.

[8] Both are ATO business lines dealing with small business

[9] This is where the researchers were free to use the information received but neither the identity of the individuals nor the geographical location of the CPA practitioners participants were to be disclosed.

[10] A 30% response rate was chosen for two reasons. Firstly this is comparable to prior studies, and secondly, a 30% response rate supports generalization to the population.

[11] The inclusion of a token gift for half (150) of the practitioner sample population resulted in a response rate of 53%. For those who did not receive the gift, the response rate was 34%.

[12] Being Compliane with tax laws, general business management and keeping track of debtors and creditors.

[13] Refer Appendix A SME survey Question 33 and Appendix B CPA practitioner survey Question 25 where the mean and medians are reported.

[14] Studies by Evans et al (1997) and Pope et al (1994) suggest that the internal costs of SME proprietors represent between 65% and 70% of total compliance costs.