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The Shooting Industry Foundation of Australia (SIFA) has condemned the firearms buyback announced in NSW, arguing that it will confiscate legally acquired property without addressing terrorism or removing illegal firearms from criminal hands.

SIFA chief executive officer James Walsh said claims that the buyback would “get dangerous guns off our streets” were fundamentally dishonest.

“These firearms aren’t on our streets. They are registered to licensed firearm owners, recorded by the NSW Firearms Registry and stored in locked safes,” Mr Walsh said.

“The government will not be taking firearms from criminals or terrorists. It will be taking them from sporting shooters, farmers, hunters, collectors and licensed businesses that have complied with every law imposed upon them.

“Taking firearms from law-abiding people and pretending it is removing guns from our streets is a con.”

According to SIFA, the buyback applies to registered firearms held by licensed owners affected by new ownership limits, reclassifications and citizenship requirements. It also covers affected stock held by licensed dealers.

Mr Walsh argued that the scheme would not remove illegal or illicit firearms from criminal circulation.

“The Bondi attack was an act of terrorism. Buying back registered firearms from law-abiding firearms owners who had nothing to do with that attack does nothing to identify extremists, disrupt terrorist activity, improve intelligence sharing or ensure authorities act on the information already available to them,” he said.

“This buyback would not have prevented Bondi, and it will not prevent a future Bondi-style terrorist attack.”

SIFA questions compensation amounts

Under the announcement, fixed payments range from $450 for an air rifle to $1,000 for a centrefire rifle or revolver.

A later process will apply to firearms valued above $3,000. Owners using that process will be required to pay a fee, while compensation will be capped at $10,000.

Mr Walsh said the fixed payments did not reflect the market value of many affected firearms.

“These fixed prices do not represent market value. Many affected firearms are worth substantially more than the amount being offered,” he said.

“The government has changed the law, made some firearms unable to be possessed, and then dictated what it will pay for property that people acquired legally, at a rate that isn’t close to market value.

“That is not fair compensation. It amounts to legislated theft.”

Dealers face substantial losses

SIFA also criticised the proposed assistance for firearms dealers, which includes grants of up to $25,000 and $500 in licence-fee relief.

Mr Walsh said dealers had purchased their stock lawfully and invested in premises, employees and inventory under the laws applying at the time. He said businesses were now facing unsaleable stock, falling turnover, reduced business values and possible closure.

“Across the NSW dealer network, businesses are already carrying millions of dollars in losses,” he said.

“The government destroyed that market almost overnight. Dealers are now facing unsaleable stock, collapsed turnover, reduced business value and the prospect of closure.

“A grant of up to $25,000 is not compensation for those losses. It is a capped grant with eligibility requirements that have not even been released. Suggesting that $25,000, together with $500 in licence fee relief, adequately compensates dealers is an insult.”

SIFA said it supported effective firearms regulation and evidence-based measures that improved public safety, but maintained that the buyback achieved neither.

“The Albanese and Minns governments are spending hundreds of millions of taxpayer dollars confiscating firearms from people already known to police while leaving terrorism, extremism and the illegal firearms market untouched,” Mr Walsh said.

“They should stop pretending that targeting compliant law-abiding firearm owners is counterterrorism. Licensed shooters, farmers and firearm businesses did not cause Bondi, and taking their property will not make Australians safer.”