NSW budget blazes the trail for post-covid economic reform

New South Wales Treasurer Dominic Perrottet and the Berejiklian government should be commended for the structural reforms in yesterday’s state budget. 

It lowers the payroll tax from 5.45 per cent to 4.85 per cent and increases the payroll tax-free threshold by an additional $200,000 to $1.2 million; replaces stamp duty with a broad-based land tax for new property purchases; reduces burdensome regulations.

These historic changes will help millions of Australians achieve their financial goals. For too long inefficient taxes and burdensome regulations have slowed and stopped Australians from pursuing their dreams.

Businesses failed to expand because they couldn’t afford the additional cost of hiring new employees….