Labor promises to simplify business regulation, including GST

In an address in Canberra, Labor Leader Kevin Rudd promised to streamline and simplify regulation affecting business. Among other things, he said Labor would implement BAS Simplification as outlined in the Banks Report, and, in consultation with small business, develop a new policy called "BAS Easy". Mr Rudd said Labor was also currently considering giving relief to independent contractors and home-based businesses by raising the threshold for mandatory completion of the BAS from $50,000 to $75,000.