Published Impact Analyses

On 2 March 2021, the Governor-General remade, with only minor amendments, the Income Tax Assessment Regulations 1997, which were due to sunset on 1 April 2021. The newly made Income Tax Assessment (1997 Act) Regulations 2021 (the Regulations) will come into effect on 1 April 2021, and are scheduled to sunset on 1 April 2031.

The Regulations support the operation of the income tax law, and include certain operational rules for calculating income tax liabilities for individuals, companies, trusts, partnerships and superannuation funds.

On 25 January 2021, the Australian Energy Market Commission (AEMC) released the rule determination and rule titled National Electricity Amendment (Technical Standards for Distributed Energy Resources) Rule 2021.

The rule creates technical standards that embedded generating (EG) units connecting by way of a micro EG connection service must comply with. The standard would amend the existing arrangements for solar inverters used primarily in household and other small-scale generation settings.

The requirements would apply to equipment connected to the national electricity grid for the first time, and to replacements  after the rule commences in December 2021..

On 25 February 2021, the Australian Energy Market Commission (AEMC) released the final rule determination and rule titled National Energy Retail Amendment (Maintaining life support customer registration when switching) Rule 2021 No. 1.

The final rule seeks to reduce barriers for life support customers that switch retailer or distribution network service provider (DNSP) by introducing an obligation on the outgoing registration process owner (RPO) (the retailer or DNSP contacted by the customer for life support registration purposes) to provide the customer with a copy of the medical confirmation document used to register the customer's premises on request.

In December 2020, the Australian Government finalised a Regulation Impact Statement considering the costs and benefits of ratifying the Minamata Convention on Mercury (the Convention).

The Convention introduces global controls to protect human health and the environment from releases of mercury and mercury compounds caused by humans. Australia signed the Minamata Convention in October 2013, indicating we agree, in-principle to its objectives and obligations. The next step is to ratify the Convention which would make it legally binding for Australia.

Australia’s domestic treaty-making process requires a Regulation Impact Statement (RIS) that assesses the potential implications of ratification.

The Department of Agriculture, Water and the Environment prepared a RIS, which the Office of Best Practice Regulation (OBPR) assessed as good practice.

Post–implementation Review – Department of Foreign Affairs and Trade (DFaT)

In April 2020 DFaT announced a call for submissions to the Post-Implementation Review (PIR) of the China-Australia Free Trade Agreement (ChAFTA).

The Department was required to prepare a PIR under the Government’s Regulation Impact Statement requirements because the Office of Best Practice Regulation (OBPR) assessed that the agreement would have a substantial impact on the economy.

The proposal was implemented in June 2015. A PIR was completed by the Department in February 2021 and was assessed as compliant by the OBPR.

Independent Review – Department of the Treasury

On 17 February 2021, the Government introduced legislation to make permanent changes to Australia’s continuous disclosure laws. Specifically, the Bill amends the Corporations Act 2001 so that companies and their officers will only be liable for civil penalty proceedings in respect of continuous disclosure obligations where they have acted with “knowledge, recklessness or negligence”. In addition, companies and their officers are not liable for misleading and deceptive conduct in circumstances where the continuous disclosure obligations have been contravened unless the requisite “fault” element is also proven.

Department of Education, Skills and Employment – Regulation Impact Statement

On 23 February 2021, the Government announced proposed changes to mutual obligations for jobseekers unemployed for at least six months.  

The new activity requirement introduces an additional requirement for job seekers once they have participated in jobactive for six months. These job seekers will be required to participate for up to eight weeks in a compellable activity (such as a short training course, online learning modules, voluntary work or Work for the Dole). This requirement is in addition to job search. It is also in addition to the intensive activity that already is required to be conducted at 12 months’ unemployment.

Remaking of Sunsetting Instrument without Significant Amendments – Takeovers Panel

On 3 December 2020, the Takeovers Panel remade without significant amendments the Procedural Rules to be followed in Panel Proceedings (the Sunsetting Rules), which was due to sunset on 1 April 2021. The Takeovers Panel Procedural Rules 2020 (the Rules) will repeal and replace the Sunsetting Rules and will come into effect on 1 April 2021. The newly remade Rules will now sunset on 1 April 2031.

The Rules, made under the Australian Securities and Investments Commission Act 2001, set out the procedure to be followed in Panel proceedings. 

Regulation Impact Statement – Department of Infrastructure, Transport, Regional Development and Communications

On 24 February 2021 the Government introduced a series of reforms as part of a Bill for a new online safety Act.

Australians are increasingly exposed to harms online. A failure to improve Australia’s online safety framework would result in harm continuing being done to individuals, the community and the economy. The Government’s preferred option - a new online safety Act with new and improved schemes - provides the greatest level of protection for Australians from online harms. The measures in this option would have a relatively low regulatory impact, in contrast to the significant benefits that the measures would provide the community and the economy.

COAG Consultation Regulation Impact Statement – Department of Infrastructure, Transport, Regional Development and Communications

On 12 February 2021, the Department of Infrastructure, Transport, Regional Development and Communications released a Council of Australian Governments Regulation Impact Statement (RIS) for consultation on reforms to the Disability Standards for Accessible Public Transport 2002 (Transport Standards).

The RIS considers regulatory and non-regulatory reform options for 16 areas of the Transport Standards, to ensure they remain efficient and meet the needs and expectations of the Australian public.