NSW announces financial assistance package for trucking to boost investment in the state and reduce burden of higher registration fees
July 18, 2012
New South Wales will introduce a financial assistance package targeted at the trucking industry to boost investment in the state and reduce the burden of higher registration fees on operators.
In a joint announcement today, Roads Minister Duncan Gay and Treasurer Mike Baird pledged to abolish the requirement for operators in New South Wales to pay stamp duty when purchasing new trailers.
The proposed stamp duty reform is part of a broader suite of measures, which includes a full rebate for operators registering tri-axle dollies and a 50 percent rebate for those with tandem-axle dollies.
Gay says a 50 percent rebate will be applied to spare trailers owned by operators with one or two prime movers or rigid trucks and no more than five trailers (excluding dollies).
“Smaller, low kilometre operators will enjoy lower registration charges for their heavy vehicles and operators who purchase new trailers in New South Wales will pay no stamp duty,” he says.
“This will ultimately lead to safer and more efficient truck and trailer combinations, helping to reduce the cost of running a freight business in New South Wales.”
The concessions are due to take effect on September 1 and will be reviewed after three years.
The stamp duty exemption for new trailers will apply only after legislation has passed New South Wales Parliament.
Gay says the government will seek the support of all parties to amend the Duties Act to allow stamp duty to be waived.
“I’ve had an absolute gutful of seeing the vast majority of truck trailers being hauled on New South Wales roads displaying Queensland or Victorian number plates,” he says.
“In many cases, it means transport operators are buying and/or registering new trailers in other states with New South Wales forfeiting vital business and associated revenue.”
The government claims the assistance package will save a truck and dog operator with one rigid truck and two dog trailers $825 each year.
Furthermore, a B-double operator with one prime mover, one A-trailer and two semi-trailers is expected to pocket $1,650 annually.
The government estimates an operator purchasing a $75,000 trailer will save $2,850, while a roa train operator with 1 prime mover, one tandem axle dolly and two semi- trailers will save $1,375 each year.
