Contact: Jane Kneebone
Deloitte
Media and Communications Manager
0416 148 845

Contact: Amanda Kennedy
Deloitte
Media and Communications Manager
0418 806 477

Contact: Tim Gullifer
Deloitte
Growth Solutions Partner
+61 (0) 3 9208 7285

The Government’s response to the red tape taskforce will provide a boost to more than half a million small and micro businesses according Deloitte Growth Solutions Partner, Tim Gullifer.

"Effective from 1 July this year the upfront cost to register a company will be cut in half, from $800 to $400," Mr Gullifer said.

"Over four years this measure will provide a modest cost saving to approximately 540,000 small and micro businesses, at a total cost to Government of $216 million."

"The vast majority of new and emerging Australian businesses are conducted in private companies. A saving of $216 million across this sector will be a welcome boost and encouragement to the SME sector of the economy."

"Reducing or eliminating cost barriers to entry into the market is a positive and welcome response to this recommendation," Mr Gullifer said.