Business NSW backs payroll tax reform

Business NSW Central Coast has welcomed Opposition Leader Mark Speakman’s proposals to reform payroll tax, stamp duty and invest in AI adoption.

Regional Director Central Coast, Scott Goold, said measures like fairer payroll tax settings and support for older Australians downsizing would have real benefits for the region.

“The government’s decision to hold payroll tax rates and thresholds is keeping pressure on Central Coast businesses already grappling with rising costs,” he said.

“We support Mr Speakman’s plan to ease this burden and help businesses reinvest in jobs and growth.”

Business NSW also backs exempting older Australians downsizing from paying stamp duty.

“Making it easier for people to move frees up homes and creates more housing options,” Goold said.

“That helps businesses because workers can live closer to their jobs, cutting commute times and boosting productivity.”

Business NSW also welcomes the Opposition’s backing for a low-interest loan scheme to help small businesses embrace new technology such as artificial intelligence.

“Many small businesses on the Central Coast want to adopt AI and automation tools, but upfront costs are a barrier,” Goold said.

“Programs like AI4Biz could support our local firms to stay competitive and innovate.”

But Goold said the most urgent priority for both sides of politics remained reforming the state’s broken workers’ compensation system.

“One in five NSW businesses told us they would be forced to shut if premiums increase by 36% over the next three years — and Central Coast businesses are no different,” he said.

“Already 63% of local businesses have had to reallocate budget to cover rising insurance costs, 28% are underinsured, and 13% have gone without non-mandatory insurance altogether.

“These are serious risk indicators for our regional economy.”

Goold urged the NSW Government and Opposition to come together and deliver genuine reform.

“The Central Coast is under enough pressure already — we need reform that protects both workers and employers, not policies that threaten jobs and shutter businesses,” he said.

“Let’s work together to keep NSW — and the Central Coast — the best place to do business.”

Other measures Business NSW welcomes in the budget reply include: reinstating the First Home Buyer Choice scheme; launching a properly funded council housing incentives program; cutting taxes and red tape that stall new developments; pausing the $12,000 Housing and Productivity Contribution for the National Housing Accord’s life; deferring this contribution from construction certification to occupation certificate; and focusing on support for regional and suburban businesses facing tough times.