The Motor Traders’ Association of NSW (MTA NSW), an Employers Association representing over 3,000 automotive businesses in NSW, has welcomed both the Federal Government and NSW Government recent stimulus measures, citing a number of benefits for its Members.
In commenting on the recent announcements, MTA NSW CEO, Stavros Yallouridis, lauded the stimulus packages, saying it would assist its Members to continue providing the vital services that ensure NSW would keep on the move.
“Government action is needed to assist the thousands of small and medium-sized businesses that our Members operate, which will potentially be hard hit by the downturn in commercial activity arising from Covid-19 – these measures are a good starting point,” he said.
Mr Yallouridis singled out the Federal Government immediate increase to the instant asset write-off threshold to $150,000, combined with investment incentives of accelerated depreciation, as being of particular benefit to MTA NSW members. “Now is a very good time for businesses to invest in new equipment, and be better placed to reap the benefits of any upturn in the economy that will occur after the main effects of the virus have passed,” he said.
He also strongly welcomed the Federal Government support for Apprentices and Trainees. “The 50 per cent wage subsidy payable towards these highly-valued employees will be of real benefit,” Mr Yallouridis said.
“MTA NSW itself is a Registered Training Organisation, delivering on-site training at business premises to more than 1,200 Apprentices and Trainees throughout the automotive industry. We know first-hand the responsibilities businesses take on when they employ young people entering the industry, and others seeking to make a new start or otherwise improve their career prospects.
“Over the years our members have provided thousands of young men and women the start they needed for a career in the automotive sector. Having begun training new workers, and seen their value, we do not want these young people to lose the opportunity to progress their career because of a temporary slowdown in business operations.”
The recent NSW Government announcement regarding the waiver of payroll tax for businesses with payrolls of up to $10 million for three months will also be of benefit to MTA Members, providing welcome cash flow support to help keep paying bills, and maintain payments to their own suppliers.
Mr Yallouridis expressed the view that with such a fluid and changeable business environment, particularly for small to medium-sized businesses, both the Federal and State Governments will need to remain in close contact with industry associations to ensure Government can continually feel the pulse of business conditions, and respond accordingly.
“Because MTA NSW has such a broad-based membership, we are very much in tune with operating conditions for businesses of all sizes throughout NSW and the ACT,” he said.
“We hear from them on a daily basis about the problems they face, and the steps they must take to keep their business operating, and to remain profitable.
“We all hope the effects of Covid-19 are relatively short-lived, and that businesses can survive the duration and continue providing employment for their staff. This stimulus packages will make a valuable contribution towards achieving that objective.”
