NSW budget delivers promised payroll tax reductions and Illawarra infrastructure

The Illawarra Business Chamber has welcomed the delivery of promised payroll tax threshold increases and ongoing investments in major Illawarra infrastructure as positives in today’s budget delivered by NSW Treasurer Domenic Perrottet.

The budget features $93 billion in infrastructure spending and an operating surplus of $802 million projected for the current financial year, despite weaker than expected stamp duty and GST receipts.

Illawarra Business Chamber Executive Director Adam Zarth said the budget contained positives for local business owners and commuters alike, but indicated there is still work to be done in attaining funding for a number of critical Illawarra infrastructure priorities.

“The government’s action on lifting the payroll tax threshold will enable the 1,869 small-to-medium sized businesses in the Illawarra to employ additional staff and save on average around $10,000 in administration associated with paying what is essentially a tax on jobs,” said Mr Zarth.

“It is great that the Illawarra is sharing in the state’s $93 billion infrastructure boom, with significant funding flowing to the Albion Park Rail Bypass and the Berry to Bomaderry Upgrade, and the Shoalhaven has received state funding for the new Nowra Bridge.”

“The F6 Extension (stage one) has received $74.6 million for planning and pre-construction, and I reiterate our call for the imminent delivery of stages two and three (to Loftus). There is also planning money for correcting the Bulli Tops intersection of the Princes Motorway and Picton Road.”

“There is still a long way to go in terms of addressing key capacity constraints in our region’s road and rail infrastructure network, and importantly, our connections to the greater Sydney economy.”

“Without funding for infrastructure upgrades to the South Coast Line, or a commitment to investigate or conduct preliminary work on the South West Illawarra Rail Link, it is clear that we must convince state and federal governments to act on our looming freight capacity deadline that will arrive in 2030.”

“We expect that research we will complete later this year will further build the evidence base for the construction of the South West Illawarra Rail Link and the need to connect the Western Sydney Airport aerotropolis to Port Kembla.”

“Likewise, upgrades to our major north-south road links connecting us to Greater Sydney are now urgently required. The upgrade of Picton Road to a dual carriageway and the delivery of the Mt Ousley interchange and widening projects were not funded in this budget but must both be delivered as those roads reach daily operating capacity by the mid-2020s.”

/Public Release. View in full here.