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Support for trade skills & small business good for residential construction

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“The NSW Government is to be commended on funding 100,000 fee-free apprenticeships over the next four years,” said HIA Executive Director NSW, David Bare.

“This initiative removes another barrier to young people considering a trade based career.

“The initiative to allow TAFE and industry registered training organisations (RTO’s) to acceess the Smart & Skilled program, across all courses, is a sensible decision.

“The lift in the payroll tax threshold from $750,000 to $1 million staged over 4 years is a win for small business.

“The apprenticeship and payroll tax initiatives are particularly beneficial to businesses in regional NSW who are struggling to access trades people.

“The Government continues its investment in critical infrastructure, committing $87.2 billion over the next four years in road and public transport infrastructure.

“The growth in first home buyers (FHB) in the market has been significant over the year. Unfortunately, most of the FHB activity is in existing stock as investors have been driven out of the market and FHB’s have been deterred from the new home market.

“The cap on a full stamp duty concession should be raised to $850,000 to ensure the market supplies new and affordable homes.

“A forecast reduction of $2 billion in Stamp Duty over the forward estimates is also a concern,” concluded Mr Bare.

Source: HIA

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