Luxury taxes to pay for Labor's plan for more nurses

Labor have declared, if elected, they will ensure mandated nurse to patient ratios as part of the commitment to add more than 5,500 nurses and midwives to NSW hospitals, the largest injection of staff in a generation. The plan will see thousands more nurses in regional hospitals.

Labor’s nurse to patient ratio system promises one nurse for every three patients in major emergency departments and paediatric wards; one midwife for every three mothers in postnatal wards; and one nurse to each patient in resuscitation beds in adult and paediatric emergency departments.

In medical and surgical wards one nurse to every four patients in the day time and one to seven at night with more support promised for community health nurses, including those working in palliative care.

How Labor propose to pay for nurse to patient ratios

Labor will help pay for guaranteed nurse to patient ratios with duties on luxury yachts over $200,000 and luxury vehicles over $100,000.

Unlike cars, there is currently no stamp duty paid on luxury yachts. Labor's luxury yacht duty is expected to apply to the top three per cent of luxury boats. Once a luxury yacht is purchased for more than $200,000, a duty of $7,600 and $9 for every $100 above $200,000 will apply. This will rise to $12 for every $100 over $300,000.

A stamp duty of $3 per $100 currently applies to motor vehicles, rising to $5 per $100 for vehicles over $45,000. There are no additional payments for luxury vehicles above $100,000.

Luxury vehicles sold for more than $100,000 will attract an additional duty of $7 per $100 above $100,000. This will rise to $9 for every $100 over $150,000.

Labor says that together these 'modest measures' will raise approximately $240 million to help pay for the nurse to patient ratios that will improve healthcare in every community across NSW.

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