Vincenzo Crupi, 72, will stand trial at Victoria's Supreme Court over the death of 54-year-old Mr Acquaro at Brunswick East in March 2016.

Justice Christopher Beale on Thursday granted Crupi conditional bail ahead of the trial, scheduled to begin in October.

He must report to Mill Park police station, in Melbourne's northeast, three times a week.

Crupi's lawyer Dermot Dann said his client's parents, aged 97 and 96 respectively, had been placed into an aged care facility in December.

Mr Dann said it was important for Crupi to see them during the lead-up to the trial given their age.

"This six-month period must represent a significant portion of their remaining life," Mr Dann said.

"To want to spend time with them is readily understandable."

Mr Dann added Crupi has no prior criminal history.

He also said the 72-year-old travelled to Italy after being interviewed by police regarding Mr Acquaro's death in 2016 before coming back voluntarily the next year.

Justice Beale said this gave him "some comfort".

A committal hearing at Melbourne Magistrates Court previously heard Crupi was a labourer helping with renovation works at Mr Acquaro's Lygon Street gelati bar, Gelobar, in exchange for food and drink.

He later changed his mind, asking Mr Acquaro for money.

The lawyer handed over $1000 but refused a second request for money.

A month or so later, a suspicious fire broke out at the gelati bar, with Mr Acquaro telling friends and police that Crupi started the fire because he was disgruntled at not being paid.

Mr Acquaro was also seen punching and yelling at Crupi a month before he was shot dead, the court was told.

Mr Acquaro represented a number of high-profile gangland figures in Melbourne.

His insurance broker and friend, Tony Caruso, told the court he had imagined his mate to be like "something out of the Godfather", due to the reputations of some of his clients.

Australian Associated Press