Published Impact Analyses

On 27 May 2011, the ACMA announced that it intends to sell new spectrum licences in the 2.5 GHz band. The reallocation of this spectrum will help to address increasing demand for mobile broadband.   This is the first step in the implementation of the outcomes of the review of the 2.5 GHz band and is intended to ensure that the band is deployed for its highest value use. The ACMA also announced its intention to convert apparatus licences currently held by the free-to-air commercial television broadcasters and the ABC for electronic news gathering operations into spectrum licences in the mid-band gap of the 2.5 GHz band.

On 10 May 2011, the Treasurer announced changes to improve compliance with taxation obligations by contractors and sub-contractors in the building and construction industry.  The introduction of a reporting regime provides a framework for improving contractor compliance. Under the proposal, businesses in the building and construction industry will be required to report payments made to contractors in that industry to the Australian Taxation Office.

On 10 May 2011, the Government announced the implementation of the election commitment to strengthen the tax law to counter fraudulent phoenix activity.  Phoenix activity involves a company intentionally accumulating debts to improve cash flow or wealth and then liquidating to avoid paying the debt.  The business is then continued as another corporate entity, controlled by the same person or group and free of their previous debts and liabilities. With effect from 1 July 2011, the director penalty regime will be extended and the Australian Taxation Office will be given greater powers.  The Regulation Impact Statement was prepared by the Treasury and has been assessed as adequate by the Office of Best Practice Regulation.

On 21 April 2011 the Government released draft regulations extending the Energy Efficiency Opportunities program to electricity generators. This program requires large users of energy to identify and publicly report on potential projects to improve their energy efficiency, and relates to the Cleaner Future for Power Stations election commitment. A Regulation Impact Statement (RIS) was prepared for the Government’s decision to release these regulations. The RIS was assessed as adequate by the Office of Best Practice Regulation.

On 11 May 2011, as part of the 2011-12 Budget, the Australian Government announced reforms to the Marriage Celebrants Program. The Marriage Celebrants program provides couples who do not wish to have a religious marriage ceremony with an alternative to a registry wedding. The primary objective of the reforms was to improve compliance and professionalism by marriage celebrants. The reforms included the imposition of a cost recovery fee on marriage celebrants to contribute to the administration of the program. Given the estimated size of the fee and the number of part-time marriage celebrants, the establishment of the cost recovery fee was considered to have more than a minor regulatory impact on the marriage celebrants’ industry and so required a Regulation Impact Statement.

On 24 March 2011, the Treasurer announced the introduction of legislation to Parliament dealing with the regulation of credit card providers, in the National Consumer Credit Protection Amendment (Home Loans and Credit Cards) Bill 2011. This implements the Fairer, Simpler Banking election commitment announced during the 2010 election. Under this proposal, credit card providers will be expected to meet additional obligations, including:

On 10 May 2011, the Treasurer announced a reform designed to encourage private investment in infrastructure, as part of a suite of reforms targeted at strengthening Australia’s infrastructure framework. Under this proposal, losses generated by certain infrastructure projects will be exempt from the Continuity of Ownership Test and the Same Business Test. Any prior year losses can also be adjusted in line with the government bond rate. These tax incentive measures for investment will be supported up to a cap of $25 billion worth of value in projects, and only in relation to projects that are designated on Infrastructure Australia’s National Priority List as ‘ready to proceed’ or ‘threshold’.

On 6 May 2011, the Australia and New Zealand Food Regulation Ministerial Council (the Ministerial Council) approved a new policy guideline on the Regulation of Infant Formula Products.  This guideline requires a pre-market assessment by Food Standards Australia New Zealand of all substances proposed for use in infant formula that do not have a history of safe use in these products.  A pre-market assessment includes the requirement to substantiate the role of the substance in normal infant growth and development.  The revised guideline was developed following a public consultation process.   The Food Regulation Standing Committee prepared a decision making RIS that was provided to the Ministerial Council when considering the policy guideline.  The RIS was assessed as adequate by the Office of Best Practice Regulation.

On 10 May 2011, the Assistant Treasurer announced the establishment of the Australian Charities and Not-for-profits Commission (ACNC). This follows on from the consultation paper released in January 2011, as well as various reviews into the operation of the sector – including the report on Australia’s Future Tax System in 2009 and the Productivity Commission’s report on Contribution of the Not-for-profit sector in 2010. The ACNC, as a statutory office, will be responsible for determining the legal status of groups seeking charitable, public benevolent institution and other NFP benefits.

On 29 April 2011, the Australian Securities and Investments Commission (ASIC) announced the exchange market integrity rules. This follows the Australian Government’s announcement in March 2010 of its support for competition between exchange markets for trading in Australian Securities Exchange (ASX) listed products in Australia, and its in-principle support for granting an Australian market licence to Chi-X Australia Pty Ltd that intends to offer trading services in competition with the ASX. The Regulation Impact Statement was prepared by ASIC and has been assessed as adequate by the Office of Best Practice Regulation.