The NSW taxation system funds the provision of vital services and infrastructure such as hospitals, schools, transport and police as equitably and efficiently as possible. Broad reforms are needed to deliver a new tax system which is fairer, more competitive, more effective and less complex. This would better foster the productivity of the NSW economy by encouraging, investment and creating new jobs.
Replace inefficient taxes with more efficient ones. Start by replacing stamp duty with a broad-based land tax. Before proceeding, identify how various designs will improve the economy and the state budget, and how adverse impacts on various groups can be minimised.
Propose, for consideration by the Board of Treasurers, the establishment of a single interjurisdictional body to coordinate the adoption of a consistent approach to the administration of payroll tax systems in all states and territories.
Use the Review of Infrastructure Contributions to find ways to deliver a more sustainable system of rates and infrastructure contributions, so that councils can provide infrastructure and services required to accompany development and growth.
Evaluate reforms within three years and if reforms do not provide sufficient funds to deliver services, councils should undertake a plebiscite of ratepayers to test support for abolishing the rate peg.
View and share information about the Continuing the productivity discussion green paper.