Australia's top industry associations have collaborated in an attempt to oppose a draft tax bill on web site development for small and medium businesses.
According to the B & T Marketing Media service, the Australian Information Industry Association (AIIA), the Internet Industry Association and the Australian Multimedia Industry Association have entered into dialogue with the Australian Taxation Office (ATO) to persuade it to drop a proposal that will disqualify companies from taking tax deductions on capital expenditure.
The ruling, which the ATO wants to be implemented retrospectively, will require companies to stretch their web site development costs over a period of two and a half years.
Business development manager of the AIIA, Laurie Ffrench, claimed the draft bill if given the go ahead would severely restrict Internet development. He said: 'We have been working with the tax office for some time now trying to get them to see that the taxation arrangements and the way they are structured will have an impact on Web site development activity.'
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