Aust Gov

1 June 2016

Temporary Work (Skilled) Migration (Subclass 457) Programme Legislative amendments

Post Implementation Review – Department of Immigration and Border Protection

In 2013, the Australian Government implemented several changes to the Temporary Work (Skilled) Migration (Subclass 457) Programme. In July 2013 the Government introduced measures to tighten foreign temporary skilled work visa obligations through changes to the Migration Amendment (Temporary Sponsored Visas) Act 2013. The changes included:

an […]

Continue reading Temporary Work (Skilled) Migration (Subclass 457) Programme Legislative amendments


31 May 2016

Removal of impediments to margining

Regulation Impact Statement – Department of the Treasury

On 16 March 2016, the Government introduced the Financial System Legislation Amendment (Resilience and Collateral Protection) Bill 2016. The bill amends the Payment Systems and Netting Act 1998 to enable financial institutions in Australia to comply with internationally-agreed margining requirements when dealing in over-the-counter derivatives. The bill also […]

Continue reading Removal of impediments to margining


27 May 2016

Australia’s Post-2020 Emissions Reduction Target

Independent Review – Department of the Prime Minister and Cabinet

On 11 August 2015, the Government announced that Australia’s post-2020 emissions reduction target is a 26-28 per cent reduction below 2005 levels by 2030.

The Government intends to achieve the target through the Emissions Reduction Fund, supported by a range of other policies including the National Energy […]

Continue reading Australia’s Post-2020 Emissions Reduction Target


27 May 2016

Authorised Conduct - amending Division 16 of Part XIB and Part XIC of the Competition and Consumer Act 2010

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. One element of the bill considers changes to authorisations to NBN Co. to engage in three specific forms of conduct for competition law purposes:

restricting interconnection to the NBN […]

Continue reading Authorised Conduct – amending Division 16 of Part XIB and Part XIC of the Competition and Consumer Act 2010


25 May 2016

Implementation of the Common Reporting Standard

Regulation Impact Statement – Department of the Treasury

On 3 December 2015 the Treasurer introduced legislation to require certain financial institutions in Australia to report information to the Commissioner of Taxation about financial accounts held by foreign tax residents.

In order to identify relevant accounts, financial institutions will need to carry out the due diligence procedures outlined […]

Continue reading Implementation of the Common Reporting Standard


25 May 2016

Central Clearing of Prescribed Interest Rate Derivatives

Regulation Impact Statement – Department of the Treasury

On 8 September 2015, the Government amended the Corporations Regulations 2001 to implement a central clearing mandate for OTC interest rate derivatives denominated in Australian dollars and four global currencies (US dollars, euros, Japanese yen and British pounds), limited to transactions between internationally active dealers. The Government’s reforms […]

Continue reading Central Clearing of Prescribed Interest Rate Derivatives


24 May 2016

Regulation Impact Statement certification authority delegated

Australian Taxation Office

On 18 May 2016, the Australian Taxation Office (ATO) wrote to the Office of Best Practice Regulation (OBPR) advising that the authority to certify Regulation Impact Statements (RISs) will be delegated to Deputy Commissioner-level officers in the ATO and to the Assistant Commissioner, Revenue Analysis Branch.

This is consistent with recent changes to improve […]

Continue reading Regulation Impact Statement certification authority delegated


23 May 2016

Release of the 1800 MHz band in remote areas

Regulation Impact Statement – Australian Communications and Media Authority

On 2 December 2015, the Australian Communication and Media Authority (ACMA) announced changes to the spectrum allocation in the 1800 MHz band in remote areas. The changes are intended to facilitate mobile services in remote areas for the use of Long Term Evolution (LTE) technology, including 4G.

Previously, […]

Continue reading Release of the 1800 MHz band in remote areas


23 May 2016

Export Fodder Levy

Regulation Impact Statement – Department of Agriculture and Water Resources

On 3 May 2016, as part of revenue measures announced in the Australian Government’s 2016-17 Budget, the Government announced changes to regulations to introduce a new mandatory export fodder levy.

The changes commencing on 1 July 2016 will introduce a statutory levy (as a charge of $0.50 […]

Continue reading Export Fodder Levy


19 May 2016

Choice of Superannuation Fund

Regulation Impact Statement – Department of the Treasury

On 17 March 2016, the Minister for Small Business and Assistant Treasurer introduced the Superannuation Legislation Amendment (Choice of Fund) Bill 2016. The bill allows employees under enterprise agreements and workplace determinations to choose the fund into which their compulsory employer superannuation payments are made.

A Regulation Impact Statement […]

Continue reading Choice of Superannuation Fund