They're the same thing, just different in names.
with usyd commerce, i heard from my friend over there that you have to do 12 core subjects. (i'm not so sure with the figures, coz i think it depends on what you wanted to major in later on) so you have to spend your first three semesters doing cores. With uts business, you only need to do 8 core subjects - you can do them in your first two semesters (i.e. first year).
and also, i think with usyd commerce, you can only double it with certain degrees, e.g.: b commerce/economics. so, for those who wanted to double it with arts, i think you better check first if usyd offers that. As far as I know, uts tend to be quite flexible for doubling degrees. But again, you should check that in the uac handbook/ the university handbook and see if those degrees are offered.
i'm a uts business student, and i find that uts is much more flexible in terms of teaching and the subjects content. no one cares if you don't attend the lectures or tutorials (some aren't even compulsory to attend). this is much different in usyd i think. i heard from my friend that the lecturers in particular place strict importance on discipline, and you will fail the subjects if you don't attend 80% or 90% of your tutes.
as for the timetables, again, it's very flexible with uts. you enrol the subjects, choose your lectures and tute times, as long as they aren't full. this is different with usyd where they actually randomly make the timetable for you and you have to go up to them to ask for a better timetable :s
well, regardless of what i've mentioned above, i think those 2 unis are great for business/commerce degrees...
good luck on your choices!