Executive Summary
- NatRoad has welcomed the Federal Budget, with some clear benefits for heavy vehicle operators, including instant asset right-off, one off payments and improved road safety data
- Money for safer roads in areas used by trucking is also welcome, with NatRoad calling for national road service level standards
Overview of Federal Budget response
Support for low carbon fuels, road safety funding, and power bill and tax relief for small businesses are all good Federal Budget news for a road transport industry under pressure, according to the National Road Transport Association (NatRoad).
NatRoad Chief Executive Officer Warren Clark said the Budget has delivered a range of positive initiatives for operators.
“A 12-month extension to the $20,000 instant asset write-off will help small businesses claim an immediate tax benefit on new assets through to June 2025,” Mr Clark said.
“This is something we’ve pushed hard for in a number of Budgets.
“Eligible road transport businesses will also appreciate the modest $325 rebate on their power bills.”
Mr Clark welcomed increased funding for the Roads to Recovery and Black Spot Programs.
“NatRoad hopes that the $10.8 million in 2024-25 for a one-year National Road Safety Education campaign has a heavy emphasis on truck awareness,” he said.
“The $21.2 million over six years to improve the reporting of national road safety data via the National Road Safety Data Hub is important and long overdue.
“Whilst we welcome additional road funding where the routes are relevant for freight, ultimately we still need to see all governments, including the states and territories, implement road service level standards so we know our tax dollars are going to the roads which need it, with an increased focus on road maintenance.”
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