Brokers and other traders across a range of industries would have to declare paid commissions as part of major proposed reforms aimed at putting power in the hands of consumers and small businesses.
Minister for Better Regulation Matt Kean said the reforms, which are now online for community feedback, would boost consumer choice and increase competition in NSW.
“We’re looking at ways to cut down on red tape so businesses have every opportunity to thrive in NSW,” Mr Kean said.
“At the same time, I want to put power back in the hands of consumers, which is why this plan also suggests ways to give people more information and more choice when it comes to where they spend their hard-earned cash.
“We also want to establish an online portal that would give consumers a one-stop-shop for data held on traders and licensees, including penalty notices and prosecutions.”
The policy proposals follow the Minister’s recent call for ideas from more than 100 think-tanks, industry groups, academics and other stakeholders.
“I’m confident both consumers and NSW businesses will benefit from these changes; however, I’m eager to hear what the public thinks over the coming weeks,” Mr Kean said.
Some of the other proposed amendments include:
- Making it mandatory for traders to disclose key terms in contracts so consumers have more transparency around what agreements they’re entering into;
- Reforming licence durations so tradies can decide to get a licence for one, three or five years;
- Opening up the rental bond market so tenants have more choice;
- Repealing out-dated statutes including those concerning telegrams, and innkeeper’s liability for damage to guest’s horses and their harnesses; and,
- Giving residents in strata lots more choice when selecting their utility providers.
For more information on the reforms, and to provide feedback, visit fairtrading.nsw.gov.au. Submissions close on Monday, 27 August 2018.