Government unveils Regulatory Reform Omnibus Bill to cut red tape

On Wednesday (8 October), the Albanese government's Regulatory Reform Omnibus Bill 2025 was presented for its second reading in the House of Representatives, furthering the government's plan to slash red tape and stoke productivity across the economy.

“This Bill is about better regulation, cutting compliance costs and cutting red tape,” Treasurer Jim Chalmers told the House of Representatives on Wednesday.

“It’s another step in the substantial regulatory agenda we have been pushing forward with pace since the roundtable.”

Following the August Economic Reform Roundtable, the government said that industry had reached a clear consensus that regulatory reform was necessary to boost Australia’s stalling productivity.

This ‘omnibus’ bill has been centred around four main pillars: adopting a ‘tell us once’ approach to service delivery, slashing red tape to improve access to government services, easing the regulatory burden on industry and boosting government efficiency.

Under the ‘tell us once’ approach, Chalmers said that Australians would no longer have to enter their details every time they accessed a different government service.

“Repeatedly asking for the same information only adds stress and delays access to vital services people rely on and deserve,” Chalmers said.

“As an example, once this Bill is passed, we can make changes so when Australians update their Centrelink bank details, Medicare gets them too.”

The bill also contained measures to boost government efficiency, digitisation and information-sharing and aimed to bring legislated document requirements “up to date” with today’s digital economy, Chalmers said.

For example, marriage celebrants are currently required to look at physical documents before a couple can get married. The bill has introduced secure digital alternatives to this.

Gavan Ord, CPA Australia’s business and investment lead, welcomed the government’s proposed ‘tell us once’ approach to regulation.

“Creating a system where businesses and individuals only need to report information once and have it securely shared across authorised government agencies is a smart move. It has the potential to ease a major compliance burden – especially for small businesses – if it’s implemented effectively,” Ord said.

“While this approach will require investment in technology and processes, the long-term gains in reducing duplication and boosting efficiency across both government and business sectors could be substantial.”

On Monday (6 October), the Institute of Public Accountants (IPA) called for a more dynamic regulatory landscape to boost productivity, and better consideration of small businesses when legislation was being designed.

“An overhaul of the regulatory landscape is crucial for boosting productivity growth, which is long overdue,” Andrew Conway, chief executive of IPA Group, said.

“A streamlined regulatory framework will simplify compliance, boost economic growth and create long-term jobs.”

CPA’s Gavan Ord said the government’s efforts to reduce red tape were encouraging, but should be accompanied by further reform.

“It’s encouraging to see the government prioritising more accessible and efficient ways for Australians to engage with public services. These are important steps forward. At the same time, we must recognise that Australia’s productivity challenge is significant, and sustained effort will be needed to deliver meaningful change.”

“This reform represents a meaningful contribution to cutting red tape and making it easier to do business in Australia. If delivered well and supported by further reforms, it would support business growth and demonstrate the government’s intent to foster a more dynamic and responsive regulatory environment.”

Damian Ogden, group executive, advocacy, public and government affairs at CA ANZ, said the industry body would also continue to advocate for regulatory change.

“CA ANZ has been actively involved in conversations about the need to reduce red tape across the community," he said.

“This includes outlining our support for a more efficient mix of taxes, including the opportunity to develop a more streamlined corporate tax system for Australia while recognising that any changes shouldn’t disrupt investment, financing or regulatory stability.

“We also support the case for making digital reporting the default for disclosing entities and reducing the number of announced but unenacted measures, which would make a meaningful contribution.

“It is pleasing to see the government remains committed to regulatory reform. We hope this is the first step of many from the government to reduce the regulatory burden faced by individuals and businesses in Australia.”