The Institute has a sustained and co-ordinated approach to lobbying, which represents the public interest and the interests of its members too. This includes a great deal of activity on behalf of small businesses in Australia.  
 
Tax 
The Institute has long advocated for simplification of tax laws and easing of the compliance burden for small to medium-sized entities.  
 
Earlier this year the Institute produced a joint report with Deloitte to generate debate on solutions to complexity and compliance costs associated with the current tax systems for SMEs, by proposing an optional entity flow-through taxation regime.  
 
In June, the Minister for Small Business, The Hon Dr Craig Emerson MP, referred the proposal to Australia's Future Tax System ('Henry') Review. In October the Institute lodged a detailed joint submission to the Henry Review Panel entitled Thinking beyond borders - tax reform for the 21st century.  
 
Recommendations of interest to small business include that the Henry Review should analyse the taxation of capital income, develop strategies to eliminate inefficient taxes, harmonise/consolidate a number of tax systems and redesign the existing 'simplified' tax system. 
 
In September 2008, the Institute lodged a submission on the Legal Framework for Administration of the GST, aimed at removing the complexities and improving the inefficiencies of the GST system. From a small business perspective, the Institute made submissions on simplifying the complex administrative rules surrounding small business GST concessions. The Institute recommended that the rules be streamlined into a single set, rather than being dispersed across six different divisions of the GST law. 
 
The Institute is also currently reviewing the draft legislation and explanatory material released last month that will increase access to the small business capital gains tax (CGT) concessions for taxpayers owning a CGT asset used in a business by a related entity and for partners owning a CGT asset used in the partnership business, with effect from the 2007-08 income year. The measures were announced by the Government in the May Budget. Submissions are due by 24 November. 
 
Wealth management 
The Institute has lobbied government on superannuation guarantee changes on behalf of members. From Tuesday, 1 July 2008 changes were made to how superannuation guarantee contributions are calculated by employers. Previously, employers were required to make a minimum super guarantee contribution of nine per cent of each employee's ordinary time earnings. With the ATO, the Institute developed calculators and tools to assist SMEs with the changes. The Institute advised members to inform their clients of the changes and to use the ATO tools and resources for more information. 
 
Reporting 
The Institute appeared before the Senate economic committee on Wednesday, 29 October 2008. The Institute emphasised the importance of standardised reporting measures for small business and not-for-profit organisations. The Institute has also met with Senator Ursula Stephens on SME/NFP issues.  
 
Relevant links:

• The Institute: Entity flow-through submission
• The Institute: GST link to tax bulletin
• The Institute: Thinking beyond borders – tax reform for the 21st century
• The Institute: lobbying
• The Institute: IFRS for SMEs
• The Institute: Public Policy Framework
• The Treasury: Small business CGT concession draft changes