Cut red tape to drive economic growth
The Property Council of Australia has outlined its plan to remove outdated and redundant legislation in order to make South Australia the best place in the nation to do business.
SA Executive Director Daniel Gannon said that onerous red tape is a barrier to economic development and job creation.
“Removing red taps is a non-negotiable if we want growth through innovation, a declining jobless rate and an attractive business environment,” he said.
South Australia’s largest private sector employer and biggest industry – property – has identified eight key recommendations. They are as follows:
- Implement prior recommendations of the Productivity Commission relating to South Australia’s red-tape.
- Implement Harper competition policy reforms.
- Reform strata laws in line with NSW.
- Reform the methodology to extinguish easements.
- Reform the registration of change of titles fee.
- Release Minister’s Specification to allow adaptive reuse of existing building stock.
- Implement a competitive retail environment through the deregulation of shop trading hours.
- Reform South Australia’s utilities pricing regime to ensure our state’s competitiveness.
“First and foremost, the State Government should prioritise the implementation of Harper Review recommendations around competitiveness,” said Mr Gannon.
“Additionally, it should undertake an audit of recent Productivity Commission recommendations that are responsibilities of the state to see where further economic gains can be made.
“We also have an opportunity to implement best practice frameworks, such as strata laws in line with New Zealand and NSW, and the ability to extinguish easements without the complexity that currently exists.
“There are currently sliding scale fees associated with transferring property titles in South Australia, which make very little sense to most people. For instance, the lodgement fee for a $1 million property is $7,611.50, which is ridiculous when we’re talking about a simple administrative process. The fee should reflect the administrative cost, which is minimal.
“The Property Council is of the view that now is the time for this state to join the majority of the rest of the nation in providing consumers, traders and retail employees with the benefit of flexibility and implement a competitive retail environment through the deregulation of trading hours.
“Further, the Property Council recommends that the Government investigates the extremely high water and electricity prices in South Australia. This state has the least competitive water pricing in Australia.”
The full submission can be viewed at this link Removing Outdated Legislation - Simplify Day Submission.
Property is South Australia’s largest private sector employer and biggest industry, accounting for 10.8% of the state’s economic activity (or $10.5 billion).
It builds prosperity by paying $4.4 billion in wages and salaries – one in six people draw their wage directly or indirectly from property – and one million South Australians have a stake in property through their super funds.
Property is the largest single industry contributor paying 56.6% of state taxes, local government rates, fees and charges.