Trucking operator registers new trailers in NSW in response to the state abolishing stamp duty
November 5, 2012
The trucking industry has started taking advantage of the New South Wales Government’s decision to scrap stamp duty on the purchase of new trailers.
Legislation granting the exemption was introduced on October 29, and Deniliquin Freighters acted almost immediately to take advantage of the new law.
Roads Minister Duncan Gay says owner Russell Tait registered five new custom-built skel trailers in NSW last week.
“In the past, Russell Tait – who also owns and operates a depot in Melbourne – would have registered his five new skel trailers in Victoria and NSW would have lost thousands in registration revenue,” Gay says.
Victoria and Queensland have for a number of years charged less or no stamp duty on new trailers, prompting NSW operators with depots interstate to purchase and register their vehicles there.
“This means NSW forfeits business opportunities and associated registration revenue and renewals – money that can help the government maintain and build more road and freight infrastructure,” Gay says.
NSW heavy vehicle operators that register trucks and trailers interstate are only required to make sure they travel two days in NSW every 90 days.
“The abolition of stamp duty on the purchase of new truck trailers is an important step in the process of levelling the competitive playing field on the eastern seaboard and helps get NSW back into the game,” Minister for Finance and Services Greg Pearce says.
As part of the legislative changes, trucking operators will not need to complete additional paperwork. The NSW Government says Roads and Maritime Services (RMS) registry staff will automatically deduct stamp duty.
