Brought to you by:

Victoria budget funds building reforms

The Victorian state budget has provided almost $20 million to strengthen building standards and to address workforce shortages.

The Government says an Office of the State Building Surveyor will be established to ensure projects are consistently well-built, safe and fit for purpose.

A Building Monitor, supported by staff from the Department of Environment, Land, Water and Planning, will also advocate for domestic consumers and report on emerging issues.

Funding is provided for “automatic mutual recognition”, a national program to make it simpler for workers to move across states.

“Harmonised registration standards across the building sector will make it easier for tradies and other building practitioners with qualifications in different states to complete work in Victoria - driving down the cost of home renovations and building projects,” the Government says.

The budget says revenue from insurance taxes is expected to increase to $1.829 billion. Insurance tax is expected to grow by an average of 6.8% per year over the forward estimates to reach $2.23 billion in 2025/26.

Duty is payable on general insurance premiums at a rate of 10% with examples including “insurance against damage to, or loss of, motor vehicles and household contents”, the budget papers say.