No New Year Love from Labor

No New Year Love from Labor

I trust you have all enjoyed a safe and happy Christmas and New Year period. As all businesses face the coming year the Government has started already, as when the clock struck midnight on New Years Eve it signalled a raft of tax increases in NSW: A land tax increase. A $450,000 valuation will attract $2140 in land tax in 2006, up 18.89% from $1800 payable in 2005.
An increase in Bus fares of up to 7% starting January 3rd
An increase in Ferry fares starting January 3rd
TAFE fees to rise by an average 3.14%
Snow skiers and boarders will pay $22 to access Kosciusko National Park, up 37.50% from $16 in 2005
National Park annual pass to cost $190 in October 2006, up 31.03% from $145 in 2005
RTA registration fees to rise. A Commodore will cost $362 to register in 2006, up 2.26% from $354 in 2005
A billion dollar turnaround in the budget, with a half billion dollar deficit in 06/07
More money towards a wasteful and unwanted $1.3 billion desalination plant
Increase in stamp duty rate on insurance products from 5 to 9 percent, costing families around $50 extra, and businesses around $100 extra, on policies
(i) ($120 million)
Increase in Waste and Environment Levy (ii) (to fund $425 million)
Extensions to Payroll Tax (iii) ($1-2 million)
New mining charges to pay for government regulation (iv) ($13 million)
New measures on Mortgage Duty (v) ($6 million)
A $60 hike in water charges to pay for Labor's costly desalination plant
Increasing eligibility age for First Home Plus scheme from 16 to 18

The Office of State Revenue has reported that staff numbers have been boosted by 398 since last year, and increased by 637 since 2002-03 The figures are reported in the 2004-05 Annual Report of the Office of State Revenue - the arm of NSW Treasury, which collects taxes and fines. While NSW has the highest unemployment rate, the highest taxes, and the lowest growth rate in Australia, the Premier has actually added to the tax burden of NSW families and businesses and raised new taxes.

Taxpayers are again being slugged for Labor's economic vandalism and incompetence. In his limited time as premier, Morris Iemma has levied at least $700 million of new taxes to try and plug the budget black hole and that trend is set to continue into the new year. Despite ten years of record revenues, services are being slashed and infrastructure crumbling.

[i] Implemented 1 September 2005
[ii] Announced 28 November 2005
[iii] Revenue Act amendments 16/11/05)
[iv] Mine Safety Bill November 2005
[v] Revenue Act amendments 16/11/05)
[vi] Announced November 2005