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This is the first edition of the BCA’s Regulation Rumble, a jurisdictional scorecard that ranks regulation and business taxes across Australia’s states and territories.
Regulation, red tape, and taxes make it more difficult and more costly to run a business. That means less jobs and less investment by the private sector. Businesses face duplication and inconsistency across the Federation. Frequent changes to laws and regulations, and a poor understanding from policy-makers and regulators of the complexity, time and cost of implementing these changes, is adding to the pressure. The patchwork of regulation across the nation discourages investment and is a barrier for companies to expand and trade across state lines or overseas. A competitive tax system and effective and efficient regulation are part of the economic fundamentals necessary for a more resilient, diversified and dynamic economy.
The research in this paper has been put together by experts in the planning industry, together with economists and policy experts with expertise in taxation.
These rankings capture a snapshot in time (July 2023). The BCA wants all states and territories to have best practice regulatory settings. In the coming years, as reforms and changes occur, the BCA absolutely wants to see jurisdictions rise up the ranks as they seek to outperform others.