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Plans to cut red tape in Victoria announced

A reduction in red tape has been seen for developers in Victoria.

The property sector in Victoria could soon benefit from plans to reduce the impact of bureaucracy and red tape on builders.

Australian Property Investor reports the Real Estate Institute of Victoria (REIV) has removed the requirement  for retail leases to be lodged with the small business commissioner, as it looks to streamline planning and development in the state.

REIV chief executive officer Enzo Raimondo told the publication: "This is a good example [of] how by reviewing the myriad of requirements government can cut business costs and make the economy more efficient."

He added that by removing the requirement, businesses and developers will be able transact leases more efficiently and with lower costs.

Earlier this, the Australian Bureau of Statistics published its latest figures relating to retail turnover across the country. It found that the greatest downturn in retail activity was witnessed in Victoria during July, with overall activity across Australia down by 0.8 per cent.

Posted by Craig Francis

- bureaucracy, building, tape, REIV

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