Business Sydney

The 5.45% payroll tax rate is crippling businesses across NSW. I’ve consistently called for a reduction to below 5% and an increase in the threshold to $1.3 million to help businesses grow and create jobs. With the threshold stuck at $1.2 million, businesses struggle to expand and reach their full potential. Worse, regional businesses face the tough choice of moving across the Murray River to Victoria, where the payroll tax rate is just 1.21%. That’s a strong incentive to leave NSW. We must create a fairer, more competitive tax system that supports local businesses. It’s time to act—lower the rate, raise the threshold, and level the playing field. Thanks to The Daily Telegraph for highlighting this critical business issue. https://lnkd.in/gAcnhHs9 #PayrollTax #NSWBusiness #TaxReform #SupportLocal #RegionalBusiness

Retaining Glebe Island as Sydney Harbour’s last area of working port doesn’t mean a step backward in the pursuit of new housing targets, as Peter Jenkins reports in today’s The Daily Telegraph. Highlighted is Business Sydney’s view that the long-awaited higher density redevelopment of Parramatta Rd is a better option that could deliver up to 35,000 new homes, far more than Glebe Island would accommodate. We advocated for the revamp of Parramatta Rd in our “Three Roads” paper in conjunction with Housing Industry Association (HIA) NSW and Business Western Sydney. Peter Jenkins’ story is an important contribution to the public discussion. PARRA RD SPRUIKED FOR HOUSING Peter Jenkins The NSW government should abandon plans to shut down Glebe Island port and instead focus on Parramatta Rd as a ­solution to delivering more homes, Business Sydney says. The future of Glebe Island remains in limbo as the government considers using it for housing developments. However, Business Sydney executive director Paul ­Nicolaou said the government should pivot on its ambitions, forget closing Glebe Island port and instead look to add housing density along Parramatta Rd. “The loss of Glebe Island … would be disastrous for our city,” he said. “In contrast, and only a few kilometres away, there is an opportunity to deliver up to 35,000 new homes with the ­redevelopment of the urban-blighted Parramatta Rd.” A 2024 report from the Port Authority of NSW outlined “the importance of continuing port operations at Glebe Island and the significant risks and subsequent costs … should operations cease”. The report said closing Glebe Island and having materials freighted to the city from Port Kembla or Newcastle would result in an extra 226,000 truck movements a year. Paul Nicolaou David Bare David Borger Sherman Chan Nerida Pearson Jason Tattershall Peter May Angelique Opie Brian Tyson Margy Osmond Chris Minns Paul Scully Daniel Mookhey David Jones Nicholas Hansen Michael Kilgariff

The Cenotaph, overlooked by the former GPO building and its clock tower, is one of the most sacred places in our city. So, it is good to see that the The Fullerton Hotel Sydney, which now occupies this landmark location in Martin Place, has renewed the Australian flags that have traditionally flown from the GPO. The Fullerton renewed the flags in their regular rotation of them and well in time for this year’s Anzac Day ceremonies on April 25. The City of Sydney also has banners up in Martin Place in honour of our armed services and their sacrifice to the nation. Paul Nicolaou Nerida Pearson Anthony G. Jason Tattershall Sherman Chan Peter May David Jones

As our Executive Director Paul Nicolaou says in his video post, Sydney has the opportunity to add 35,000 new homes with the long awaited redevelopment of Parramatta Road. Business Sydney is calling on all tiers of government to get on with the job of revitalising a major artery that is currently showing all the signs of urban decay. Jason Tattershall Nerida Pearson Peter May Sherman Chan Ben English Elizabeth Pike Bevan Shields Megan Gorrey David Jones Housing Industry Association (HIA) Business Western Sydney

📢 Your Voice Matters! Business NSW’s Business Conditions Survey is now live! This is your chance to share how your business is navigating current economic challenges. 🔗 https://lnkd.in/g_VtzSFa ⏳ Don’t miss this opportunity to send a message and help shape policy support for NSW businesses! Complete the survey for access to an exclusive webinar from Business NSW Chief Economist Dr Sherman Chan. The webinar registration link appears at the end of the survey. #BusinessNSW #Survey #NSWBusinesses #HaveYourSay

Sydney, Foundation Theatres acquisition of The Star Sydney Event Centre is great news for our wonderful city at so many levels. It helps give The Star Entertainment Group a much-needed breathing space to work its way out of its current difficulties. With Foundation Theatres’ acquisition of The Event Centre and additional spaces, Sydney gets the benefit of some exciting new venues to host theatre, live entertainment and contemporary music. This announcement is a classic win-win for our wonderful city. The Event Centre and additional spaces will be converted into three exciting new Sydney venues to host theatre, live entertainment and contemporary music in Sydney. The Event Centre will continue to operate as usual whilst planning continues for its redevelopment into a 1550 seat Broadway style theatre. Planning has also commenced for a contemporary music venue for up to 1000 and a flexible venue for theatre, cabaret, comedy and concerts for up to 550. We can’t wait to see what opportunities these venues bring to the performing arts industry in Sydney. Image: an artist’s impression of the new Broadway style theatre from Foundation Theatres LinkedIn post. #sydney #foundationtheatres #thestar #flexiblevenues #cabaret #comedy #concerts #music #liveentertainment #welovesydney

A Business Sydney welcome back to Sydney to Warren Brown and Matthew Benns after an epic “road trip” from London in a 100 year old Bean open tourer replicating an earlier journey by Aussie adventurer Francis Birtles. Warren and Matthew of the Daily Telegraph used their London to Sydney journey to raise funds for the Royal Flying Doctor Service of Australia. Congratulations to them both. Check out the video. Birtles and The Bean. Warren Brown Matthew Benns The Daily Telegraph Zac McLean Royal Flying Doctor Service of Australia Paul Nicolaou Nerida Pearson Jason Tattershall Sherman Chan Peter May Royal Automobile Club of Australia David Jones

Great cities thrive on confidence and that’s what will maintain the momentum of the return to the office movement. Peter Jenkins and The Daily Telegraph explore the issue today. The number of city workers returning to workplaces increased in 2024. NSW Special Minister of State John Graham is right in hailing the part the Sydney Metro has played: “I’m optimistic about the Sydney CBD in 2025. With the arrival of the Sydney Metro, more people returning to the office and interest rate cuts on the way, 2025 could be the year where the Sydney CBD bounces back to levels we haven’t seen since before Covid. We want to see thriving CBDs across the state, and workers are a very important part of the mix.” Business Sydney shared Mr Graham’s optimism but for confidence to build it’s vital for the lingering rail dispute to be resolved. Our Executive Director Paul Nicolaou said: “I’m hearing from small to medium businesses that they’re now encouraging their staff to come in at least three to four days a week. That’s important. The more people we get into the city the better. I’m also hearing from younger people that they do want to be back in the office now. They want to engage, they want to learn, they want to be promoted and they want to earn their bonuses. But we remain concerned that the impact of this long-running rail dispute might slow that.” The Daily Telegraph sums up the situation in its editorial: ”A problem is in the way, however, and it is not to do with any lingering worker reluctance. It boils down to this: how do we get workers back to workplaces if Sydney’s rail network remains hostage to union stoppages? Those who are inclined to keep working from their homes can scarcely be blamed when the office option is fraught with bolshie rail union barricades. ‘We need industrial peace to rebuild confidence that returning to the office is both a doable and attractive option,’ Business Sydney executive director Paul Nicolaou told The Daily Telegraph on Sunday. As is usually the case, Mr Nicolaou is correct. Sydney workers require transport support, or else at home they will stay.” Nerida Pearson Jason Tattershall Sherman Chan Peter May David Jones

LET’S GET ON WITH THE BARANGAROO CENTRAL DEVELOPMENT AND COMPLETE “VACANT BLOCK” AROUND THE METRO The NSW Government should give a green light to the Barangaroo Central development to end a 20-year saga that has left a “vacant block” adjacent to the new Barangaroo Sydney Metro Station. Business Sydney today released a study that reveals the economic and social benefit loss from the delay has already reached a staggering $377 million. And a further five-year delay in the project’s delivery would add $200 million to the lost opportunity account, taking it to more than half a billion dollars at $578 million. Barangaroo Central is the “ last piece of the puzzle” to complete the precinct. Government planning approval would provide a mixed housing, commercial hub and green space destination for the recently opened Metro station. The Business Sydney paper on the overall Barangaroo precinct highlights the incredible contribution it is making to our city, and its potential to offer more. The paper details the economic gain the Barangaroo Central development will provide Sydney but also the potential economic loss from further delay. Our Executive Director Paul Nicolaou said: “This is an opportunity for Sydney to end a 20-year saga of planning hurdles, false starts and no starts. “And it is an opportunity to build a job generating hub and green space amenity to fill the vacant space around the new Barangaroo Metro Station. “Sydney has waited far too long for this final piece of the Barangaroo puzzle to be completed. “Our message to the NSW Government is let’s get on with it and allow this sensible and much needed development to proceed. “This is our last opportunity to deliver more of what Sydney needs at a strategically important site, so let’s not underdo it.” Mr Nicolaou said a completed Barangaroo precinct could contribute up to $2 billion to the NSW economy annually. According to the Business Sydney paper, once completed Barangaroo Central would generate $134 million annually in economic activity supporting hundreds of jobs. The Barangaroo Central story is covered today in The Daily Telegraph. Nerida Pearson Jason Tattershall Chris Minns Paul Scully Steve Kamper Sherman Chan Business NSW David Jones Zac McLean Elizabeth Pike

Congratulations to proud Sydneysider, Indian-born software engineer Ashutosh Phatak who, on Australia Day, will become an Australian citizen. And well done to The Daily Telegraph and Peter Jenkins for telling his story and that of his wonderful family, wife Sayali and twin girls Sharveyi and Anwesha aged eight. The family overcame a heartbreaking period of separation during the pandemic after Ashutosh arrived in Sydney to start a new life for them in Australia. As he looks forward to officially becoming a citizen, Ashutosh neatly summed up the city we all know and love. He said: “Sydney is a global city, it’s a multicultural city and I’m proud that on Australia Day, I will become an Australian citizen.” Paul Nicolaou Nerida Pearson Jason Tattershall Sherman Chan Peter May Ben English Nicholas Hansen Zac McLean David Jones