26 October 1999

Multi-Million Dollar Boost to Peak Bodies to Ease GST Transition

The GST Start-Up Assistance Office is finalising contracts worth more than $95 million with peak sector bodies, to help small and medium businesses, community bodies and the education sector get ready for the GST.

Chairman of The New Tax System Advisory Board, Chris Jordan, said the $95 million in assistance would ensure that peak bodies covering small and medium sized businesses, community bodies and the education sector would receive funds to help their constituents make the transition to The New Tax System.

"This funding will reach more than 80 per cent of small and medium sized businesses, education and community groups, with the remainder subject to negotiation and expected to be announced shortly.

"This program will enable these groups to provide a range of educational and information services to meet the needs of their constituencies," Mr Jordan said.

Of the $95 million:

"By the end of this week, the GST Start Up Assistance Office expects to have secured over $95 million in funding for industry, community and educational peak groups, $7 million to train GST advisors and $5 million to provide business skills material and helplines.

"In the two months since it began work, the Office has committed over $100 million in assistance to help enterprises adjust to a GST environment."

The funding is in addition to the major education and communication program currently underway by the Australian Tax Office.