Positive changes to home construction industry

As of July 1 2014, the Victorian Government will make changes to WorkCover premiums and workplace safety regulations - a movement that has been applauded by The Housing Industry Association (HIA).  

It has chosen not to introduce a number of taxing administrative regulations, and are removing the need for record-keeping for Construction Induction Cards. 

"The proposed amendments would have done nothing to improve workplace safety, however they would have raised the level of bureaucratic red-tape to a high level. It is comforting to see the Victorian Government making a concerted effort to not only reduce red-tape, but also not introducing unnecessary regulations that increase red-tape", stated HIA's Victorian Executive Director, Gil King.  

The home construction industry has also received another positive announcement - the project value threshold for principal contractor duties is set to rise to $350,000. This is the first time the threshold has been changed since its 2007 introductory figure of $250,000. 

The Victorian WorkCover premium will be reducing by 2% - from 1.298 per cent to 1.272 per cent - from July 1, saving around $40 million for employers in the sector. 

"This announcement should be welcomed by all employers and is testament to the sound economic management of this State's economy by the Napthine Government,' stated Mr King. 

Larger employers who pay out their annual premium by August 1 2014, will receive an additional 5% discount on top of this reduction. Smaller employers can look forward to the same bonus if they pay the minimum premium by this due date.