New South Wales Labor has failed to rule out a stamp duty increase on new trucks sold in the state, the Australian Trucking Association (ATA) warned today.
The ATA represents the 50,000 businesses and 211,500 people in the Australian trucking industry and is seeking more detail on how trucking businesses could be affected by the tax increase in NSW.
NSW Labor has announced a plan to increase stamp duties on vehicles costing more than $100,000. This would add an extra $9,000 to the cost of a $350,000 prime mover, with the stamp duty totalling $25,600.
“Labor Leader Michael Daley has been unable to explain the tax, leaving the trucking industry in the dark,” ATA councillor and Border Express director Jon Luff said.
Mr Luff said an increase in stamp duty on trucks would be disastrous for safety, the NSW economy and the environment.
“In urban areas like Western Sydney, we need more new, cleaner trucks, not less,” he said.
“New trucks must meet new, cleaner emission standards and are more fuel efficient. Compared to a truck purchased in 1996, a new truck purchased today emits 75 per cent less nitrogen oxide, 50 per cent less hydrocarbons and 92 per cent fewer particulates.
Mr Luff also said new trucks have the latest safety technologies.
“The Australian Government is rolling out stability control as a mandated technology for a range of new trucks and trailers, and new vehicles regularly come equipped with additional safety technologies like lane assist and adaptive cruise control,” he said.
This morning, Shadow Treasurer Ryan Park issued a statement citing that farm vehicles such as harvesters and tractors would be exempt under the policy but conspicuously did not exempt trucks.
“The 16,000 hardworking trucking businesses in New South Wales deserve answers,” Mr Luff said.
“Trucks are critical to the NSW economy and slapping taxes on trucks only makes it harder for businesses to compete in a global economy,” he said.
“97 per cent of trucking companies are small businesses, based in regional towns and places like Western Sydney.
“Trucks are not a luxury. They are a necessity, relied upon by every single Australian,” he said.