“NSW Premier Nathan Rees presides over the highest taxing state in the nation, which is delivering a ‘severe blow to business’”. The Australian, page 1, 28/12/2008

“The state’s onerous payroll tax liability pushes NSW to the top of the state tax liability rankings”. The Australian, page 4, 28/12/2008

NSW Shadow Treasurer Mike Baird today said the State Labor Government’s addiction to tax has resulted in NSW business facing the highest level of tax in Australia, which is driving down the state’s economic growth and employment levels.

A study by the Institute of Public Affairs found the NSW State Government imposes more taxes on medium sized businesses than any other state. Tax imposed on NSW businesses is 7% higher than the national average and 14% higher than Western Australia.

“The NSW Labor Government’s high taxing regime has driven business out of NSW, directly contributing to the economic turmoil the State is facing today,” Mr Baird said.

“Nathan Rees’ high taxing regime has directly contributed to the State’s slow economic growth rates and high unemployment rates,” he said.

“NSW is uncompetitive with other states in terms of payroll tax, land tax and stamp duty, which is a major disincentive for business to stay in NSW.

“Payroll tax continues to be the greatest liability for NSW businesses, especially when compared to Queensland which has a payroll tax rate of 4.75% compared to NSW’s 6% and the tax free threshold is NSW is $623,000 compared to $1 million in Queensland.

“The NSW Labor Government’s onerous tax regime has delivered NSW the unwanted honour of topping the national taxation table:

*Based on tax liabilities borne by a medium sized reference business – excluding worker’s compensation premiums. Source: Institute of Public Affairs

“The NSW Liberal/Nationals believe NSW should be the first place to do business and central to this is our commitment to reduce the taxation and red tape burdens on NSW businesses,” Mr Baird said.

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