Published Impact Analyses

Regulation Impact Statement – Australian Securities & Investments Commission

On 11 December 2020, the Australian Securities & Investments Commission (ASIC) released an updated regulatory guide on time-sharing schemes, RG 160 Time-sharing schemes.

Independent Review – Department of the Treasury

On 29 June 2020, the Australian Government announced application of the Consumer Data Right to the energy sector.

The Consumer Data Right provides consumers with greater access to their personal information, giving them the power to instruct businesses to provide safe and secure access of their data to trusted third parties. Applying the Consumer Data Right to the energy sector will allow consumers and businesses to more easily compare and switch between electricity plans and providers, encouraging more competition, lower prices and more innovative products and services.

Regulation Impact Statement – Attorney-General’s Department

On 9 December 2020, the Government introduced the Fair Work Amendment (Supporting Australia's Jobs and Economic Recovery) Bill 2020 to provide greater certainty for casual employees and their employers.

The preferred option in the RIS introduces a statutory definition for a casual employee and provides a universal casual conversion mechanism as a National Employment Standard entitlement.

The Attorney-General’s Department prepared and certified a Regulation Impact Statement (RIS), which the Office of Best Practice Regulation (OBPR) assessed as good practice.

The RIS estimates the average annual regulatory saving of $14million.

Regulation Impact Statement – Attorney-General’s Department

On 9 December 2020, the Government introduced the Fair Work Amendment (Supporting Australia's Jobs and Economic Recovery) Bill 2020 to make wide-ranging reforms to the enterprise bargaining system.

The proposed reforms are intended to reverse the decline of enterprise bargaining and includes changes in the following areas:

Regulation Impact Statement – Attorney-General’s Department

On 9 December 2020, the Australian Government introduced the Fair Work Amendment (Supporting Australia's Jobs and Economic Recovery) Bill 2020 to, amongst other proposed reforms, allow extended term Greenfields agreements to be used in relation to the construction of major projects.

Regulation Impact Statement – Attorney-General’s Department

On 9 December 2020, the Government introduced the Fair Work Amendment (Supporting Australia's Jobs and Economic Recovery) Bill 2020 to change the conditions upon which employers and employees could agree additional hours and accrue benefits across awards covering the hospitality and retail industries.  

Remaking of Sunsetting Instrument without Significant Amendments – Department of the Treasury

On 26 November 2020, the Governor-General remade, with only minor amendments, the A New Tax System (Australian Business Number) Regulations 1999, which were due to sunset on 1 April 2021. The newly made A New Tax System (Australian Business Number) Regulations 2020 (the Regulations) will come into effect on 1 April 2021, and are scheduled to sunset on 1 April 2031.

The Regulations support the function of the Australian Business Registry (ABR). The Regulations set out the details to be entered on the ABR, the fee for access to the ABR, and details to be included in copies of the ABR.

Regulation Impact Statement – Department of Home Affairs

On 10 December 2020, the Security Legislation Amendment (Critical Infrastructure) Bill 2020 was introduced into Parliament.

In response to evolving threats and risks to Australia’s critical infrastructure in a post-COVID world, the Government introduced an enhanced regulatory framework, building on existing requirements under the Security of Critical Infrastructure Act 2018. The Security Legislation Amendment (Critical Infrastructure) Bill 2020 gives effect to this framework by introducing:

Regulation Impact Statement – The Treasury

On 9 December 2020, the Government introduced legislation on changes to the consumer credit framework requiring lenders to establish appropriate systems, policies and processes for assessing borrowers’ capacity to repay without substantial hardship. Responsible lending obligations (RLOs) will be retained for small amount credit contracts (SACCs) and consumer leases.

The Office of Best Practice Regulation (OBPR) assessed the Regulation Impact Statement (RIS) prepared by the Treasury as adequate with the Government’s requirements but not consistent with good practice.

For the RIS to be considered ‘good practice’, the analysis could have been further improved by:

COAG Consultation Regulation Impact Statement – Australian Building Codes Board

On 7 December 2020, the Australian Building Codes Board (ABCB) released a Consultation RIS on lead in plumbing products in contact with drinking water. This follows a number of high-profile cases of lead leaching into Australian drinking water.

Lead is currently permitted by Australian Standards for use in the manufacture of plumbing products. The exact lead content of products varies by component, though some products in contact with drinking water contain up to 6% lead as a proportion of raw material.