The Australian Chamber of Commerce has pushed the Government to allow small businesses who incurred losses to receive financial aid from tax paid on profit in previous years. This in effect means small companies may be getting a tax refund.
"This would increase cash flow in the small and medium sector", says chief executive Peter Anderson."
Countries like USA and the UK also allow for immediate tax refund, rather than tax credit or any other reliefs against future bills. This measure is expected effectively help businesses through hard times, in addition to tax cuts for low and middle earners.