• Department of Finance leads the way on Regulatory Reform 

    The Department of Finance is committed to leading the State Government’s plan to ease regulatory burdens on Western Australian businesses and communities.

    With red tape continuing to impose significant, unnecessary costs on business and government, the Department of Finance’s Economic Reform unit will work to help agencies identify opportunities to reform burdensome regulation.

    The Hon Bill Marmion MLA, Minister for Finance was on hand to release the reinvigorated regulatory reform plan on Monday, March 30th in Armadale, as part of Community Cabinet.

    'The government’s new reform approach will focus on reducing costs to businesses and the Western Australian community by streamlining government processes, and reducing barriers to entrepreneurial activity, employment and investment', Minister Marmion said.

    The recent collaboration between the Department of Finance’s Office of State Revenue and the Australian Institute of Conveyancers highlights the efficiencies that can be realised when government and industry work together to cut red tape.

    State Revenue this month reached its 1000th Electronic Valuation Request, an innovative enhancement allowing registered Revenue Online users to submit valuation requests for related party transactions online. This has resulted in a reduced processing time of these transactions of up to 10 days.

    'These improvements to Revenue Online have increased the number of taxpayers who can pay at the time of settlement, rather than have to request their bank to release part of any loan funds in advance. These changes significantly reduce property transaction delays as well as compliance costs.' Mr Marmion said.

    The Department of Finance’s Economic Reform unit want to hear from the community regarding ideas like this to cut red tape. Economic Reform will use these suggestions, and work with the relevant government agencies to identify opportunities to reform burdensome regulation and compliance arrangements to reduce the cost of doing business in Western Australia.

    Submit your red tape reduction idea.

    Published date: 30 March 2015