Here the World Bank found that it was requiring an average of 5 separate steps and taking around 5 days to complete the process. This is a measure of the cost of such registration procedures, the number of steps to get the process completed, and the time taken to finalise the process. It is an area that requires reform within local government authorities as much as their state, territory and federal counterparts.Īustralia’s property registration score was also quite low. It was taking an average of 147 days to process them and cost around 10% of income per capita. The World Bank reported that there was an average of 15 different procedures required to secure these permits. The low ranking of dealing with construction permits reflects the cost of such permissions, as well as the number of procedures required and the time taken to complete them. Any improvement in this area requires a review of company tax policy with specific attention to the needs of small businesses. Additional taxes such as payroll tax further added to the problem. This indicator measures the total tax rate paid by business, the number of tax payments made per year, and the number of hours per year required to prepare and lodge tax returns.Īccording to the World Bank report Australian firms were making an average of 11 tax payments per year taking an average of 109 hours. Reform here will require some examination of the Corporations Act (2001), but also the judicial system.Īlso of concern is the issue of paying taxes. This is a measure of Australia’s legal system’s capacity to allow shareholders the ability to take legal action against the CEO or Board of Directors. However, in relation to the protection of investors, paying tax, dealing with construction permits, property registrations and getting electricity connected it is a less rosy picture.Īustralia’s worst ranking was in relation to the protection of investors. The ease of getting credit score is also pretty good. It can be seen that we do quite well in terms of the ease of starting a new business ranking in 2nd place. The table shows the way Australia ranks against the global 183 economies.Įase of Doing Business: How Australia Ranks. It is worth noting that the top 5 countries in rank order are Singapore, Hong Kong, New Zealand, the United States and Denmark.Īs with most things the devil is in the detail and if the 10 indicators are examined a better picture emerges. This places it just behind Canada and Sweden, but ahead of Georgia and Thailand. Overall, as Bruce Billson pointed out, Australia ranks 15th in terms of its ease of doing business as measured in the 2012 report. This survey examines each country against 10 indicators and takes an average of the percentile rankings for each indicator to provide the overall global score.Īlthough the methodology used in the World Bank study has some limitations is it a useful international comparison measure. The World Bank’s “Doing Business” project involves a measure of the ease of doing business in relation to various government regulations from a global survey of 183 countries. He pointed to the World Bank’s 2012 “ Doing Business” global ranking of countries, noting that Australia had dropped three places over the previous year. Writing in The Australian, Bruce Billson, the federal Opposition’s spokesperson for Small Business accused the federal Government of failing to cut red tape. The cost of doing business – red tape unpacked During the American Civil War veterans’ records were also bound in red tapes that were then viewed as emblematic of bureaucratic resistance to public access to such documents. This practice spread to other governments.
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