Draft regulations to assist renovators released: NSW Fair Trading

Renovators and home builders can expect to be assisted under draft supporting regulations for new laws from New South Wales Fair Trading Minister, Matthew Mason-Cox.

Measures proposed by Mason-Cox as pat of the Home Building Act reforms include fast-tracking IPART reforms, that allow residential work under $5,000 to be done without a permit.

Also, property owners will be able to do work on their home up to the value of $10,000 without an owner-builder permit.

These are additions to amendments passed by the New South Wales Parliament in May that cleared up definitions around structural defects, and tightened licence eligibility to stamp out phoenixing (defined by ASIC as "the fraudulent act of transferring the assets of an indebted company into a new company to avoid paying creditors, tax or employee entitlements"). 

“For most consumers, building or renovating their home is one of the biggest financial undertakings they will ever make in life,” said Mason-Cox.

“Modernising the Home Building Act is absolutely essential to enhancing consumer protection and ensuring the ongoing viability of the building sector.

Other changes may include a review of the scope of some categories of work for licences and certifications. Feedback is also being sought on deregulating excavation work, cleaning work and some fencing so that licences and home warranty isn’t required.

“The reforms will reduce the cost of providing building and maintenance services and help ease the cost of living pressures for consumers across NSW, while still providing an appropriate level of consumer protection,” he said.

Stakeholders can still comment on the reforms, with a submission deadline of 15 August 2014. Resulting new laws are expected later this year.