ELECTION WAKE-UP CALL: BUSINESSES DEMAND COST RELIEF

NSW businesses have delivered a blunt pre-election message to politicians: cut taxes and make it cheaper to do business.

The latest Business NSW Business Conditions Survey found 35 per cent of businesses rate reducing taxes and charges as the single biggest priority for the next NSW Government.

“Businesses don’t experience government charges one at a time,” CEO Daniel Hunter said.

“They experience them all at once. Payroll tax, insurance costs, fees and charges all land on the same balance sheet.

“The payroll tax threshold hasn’t moved since 2020, the Emergency Services Levy adds 34 per cent to insurance premiums, and NSW is missing out on billions of dollars a year under the GST system. It all adds up.

“With an election less than six months away, our members are asking a simple question: when their costs keep going up, what are the parties going to do to ease the pressure?”

Business NSW member Steve Facer, from Chess Engineering in Western Sydney, said a cut to payroll tax would make a real difference to his business.

"I'm not against paying tax, but I'm paying $78,000 a month in payroll tax," he said.

"If the rate was reduced by two percentage points, that would save us about $29,000 a month, or more than $340,000 a year.

"That kind of saving gives a business a lot of options. We could invest in new equipment, put more people on the payroll and take on more work.

"Businesses shouldn't be penalised for creating jobs."

Mr Facer said a fairer share of GST revenue would also give the Government more firepower to back businesses and ease cost pressures.

Other survey findings included:

• Nearly half of businesses (46%) increased their use of AI in the past three months, with 65% reporting they achieved the benefits they were seeking.
• Businesses rated infrastructure in their regions as largely unprepared to meet their needs over the next decade, with public transport receiving the lowest ratings.

About Business NSW

Formerly the NSW Business Chamber, Business NSW is the peak policy and advocacy body which has been representing businesses in NSW since 1826. We represent almost 50,000 businesses.