Aust Gov

22 April 2016

Therapeutic Goods Act 1989 – Determination under subsection 19A(3)

Department of Health

The Department of Health will remake without amendment the Therapeutic Goods Act 1989 – Determination under subsection 19A(3).

The Determination contains a list of 9 countries. The Secretary is able to approve the importing or supply of an unapproved medicine (in the event of a shortage or lack of supply of a medicine that […]

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20 April 2016

Introducing a Cap for Salary Sacrificed Meal Entertainment and Entertainment Facility Leasing Expenses

Regulation Impact Statement – The Treasury

On 15 October 2015 the Government put forward the Tax and Superannuation Laws Amendment (2015 Measures No. 5) Bill 2015 which introduces a separate grossed-up cap of $5,000 for salary sacrificed meal entertainment and entertainment facility expenses (meal entertainment benefits) for employees of employers able to access a general fringe […]

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19 April 2016

Australian Accounting Standard AASB 16 Leases

Independent Review – Australian Accounting Standards Board

On 23 February 2016, the Australian Accounting Standards Board (AASB) approved AASB 16 Leases. AASB 16 Leases requires all lease agreements to be presented on the financial balance sheet of the lessee. This measure will increase the transparency surrounding lease arrangements and make a lessee’s balance sheet better reflect […]

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13 April 2016

Amending NBN Co’s Non-Discrimination Obligations to Allow it to Conduct Pilots or Trials with Specific Persons

Regulation Impact Statement – Department of Communications and the Arts

On 2 December 2015 the Government introduced the Telecommunications Legislation Amendment (Access Regime and NBN Companies) Bill 2015. The proposal allows NBN Co to conduct pilots and trials of new services or technology without requiring authorisation by the Australian Competition and Consumer Commission.

Prior to the proposed […]

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13 April 2016

Religious Charitable Development Funds

Regulation Impact Statement – Australian Prudential Regulation Authority

On 30 March 2016 the Australian Prudential Regulation Authority (APRA) announced its intention to modify the current Exemption Order applying to religious charitable development funds (RCDFs). Under the new Exemption Order, after 1 January 2017, RCDFs will only be permitted to offer, issue or sell retail products to […]

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13 April 2016

Mandatory Central Clearing of Interest Rate Derivatives

Regulation Impact Statement – Australian Securities and Investment Commission (ASIC)

On 11 December 2015, the Australian Securities and Investments Commission (ASIC) released rules implementing Australia’s mandatory central clearing regime for over-the-counter (OTC) interest rate derivatives denominated in Australian dollars (AUD interest rate derivatives), and in US dollars, euros, British pounds and Japanese yen (G4 interest rate derivatives).

The […]

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13 April 2016

Remaking of sunsetting instrument without significant amendments

Department of Infrastructure and Regional Development

The Department of Infrastructure and Regional Development remade the Air Navigation Regulation 1947 without significant amendments on 24 March 2016.

The Air Navigation Regulation 1947 provides a framework for ensuring compliance with bilateral air services arrangements that are made consistent with the Chicago Convention on International Civil Aviation 1944.

Consistent with the […]

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11 April 2016

Extending GST to imports of digital products and services

Regulation Impact Statement – Department of the Treasury

On 10 February 2016, the Government introduced the Tax Laws Amendment (Tax Integrity: GST and Digital Products) Bill 2015. Among other matters, the Bill extends the application of the Goods and Services Tax (GST) to digital products and services imported by consumers.

Examples of the digital products and services […]

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11 April 2016

Trans-Pacific Partnership

Independent Review – Department of Foreign Affairs and Trade

On 9 February 2016 the Government tabled the Trans-Pacific Partnership (TPP) Agreement.

The TPP Analysis of Regulatory Impact on Australia was certified by the Department of Foreign Affairs and Trade as meeting the requirements of a Regulation Impact Statement. Under the Australian Government Guide to Regulation, the Office […]

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1 April 2016

Changes to the Fair Work Act 2009

Post-implementation Review – Department of Employment

In February 2013, the then Government announced a number of changes to the Fair Work Act 2009. A Regulation Impact Statement (RIS) was required for the changes, but the then Prime Minister granted an exemption to the department from the RIS requirements on the basis of exceptional circumstances. As a […]

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