Published Impact Analyses

COAG Decision Regulation Impact Statement – Australian Energy Market Commission

On 19 December 2019, the Australian Energy Market Commission (AEMC) released the final rule determination and final rule titled National Electricity Amendment (Application of the Regional Reference Node Test to the Reliability and Emergency Reserve Trader) Rule 2019, to create transparency, predictability and consistency for the market, and remove as far as possible the need for Australian Energy Market Operator (AEMO) to exercise discretion in determining how to apply the test.

The AEMC’s final rule:

COAG Decision Regulation Impact Statement – Australian Energy Market Commission

On 19 December 2019, the Australian Energy Market Commission (AEMC) released the final rule determination and final rule titled National Electricity Amendment (Threshold for Participant Compensation Following Market Intervention) Rule 2019.

The final rule relates to the compensation framework which operates to ensure participants who have been directed by the Australian Energy Market Operator (AEMO) to provide services are not "out-of-pocket". This framework also compensates participants affected by the intervention in order to put them in the position that they would have been in but for the direction or other reliability and emergency reserve trader (RERT) activation.

COAG Decision Regulation Impact Statement – Transport and Infrastructure Council

On 22 November 2019, the Transport and Infrastructure Council of the Council of Australian Governments (COAG) agreed to develop the next stage of heavy vehicle road reform [PDF document], including the independent setting of heavy vehicle charges, for consultation and further approvals. This follows on from the November 2018 decision to develop a national service level standards framework for roads.

Independent Review – Department of the Treasury

On 19 September 2019, the Minister for Housing and Assistant Treasurer introduced the Currency (Restrictions on the Use of Cash) Bill 2019. The proposed legislation would implement a recommendation of the Final Report of the Black Economy Taskforce, which the Government announced it would adopt in its response to the Taskforce’s Final Report in the 2018-19 Budget. 

Under the proposed legislation, a cash payment limit of $10,000 will apply to transactions where one of the parties is involved for business reasons or for the purchase of real property.

COAG Consultation Regulation Impact Statement – Australian Energy Market Commission

On 12 December 2019, the Australian Energy Market Commission (AEMC) released a draft rule determination for the Short Term Forward Market rule change request (ERCO259). The AEMC has determined not to make a draft rule in relation to introducing a voluntary short term forward market (STFM) in the national electricity market (NEM).

On 20 December 2018, the Australian Energy Market Operator (AEMO) submitted a rule change request to the AEMC proposing the introduction of a STFM for electricity derivatives, operating alongside the NEM, which could:

Non-compliance with COAG’s best practice regulation requirements – Council of Attorneys-General (CAG)

On 29 November 2019, the Council of Attorneys-General (CAG) agreed to pursue a staged approach to enduring power of attorney reform for financial decisions, first focusing on law reforms to support the establishment of a mandatory national register of enduring power of attorney instruments, followed by further consideration of reforms to enhance safeguarding provisions and enhance access to justice arrangements.

COAG best practice regulation requirements apply to decisions by Ministerial Councils or national standard setting bodies where there is a reasonable expectation of widespread compliance, and the expected impacts are not minor or machinery.

Neither a Consultation nor Decision RIS was prepared for the agreement by Ministers.

COAG Decision Regulation Impact Statement – Australian Energy Market Commission

On 5 December 2019, the Australian Energy Market Commission (AEMC) released a final rule determination in which it decided to apply a demand management innovation allowance mechanism (DMIA) to electricity transmission network service providers (TNSPs). 

Remaking of sunsetting instrument without significant amendments – Department of the Treasury

On 5 September 2019, the Governor‑General remade without significant amendments the Product Grants and Benefits Administration Regulations 2000, which were due to sunset on 1 October 2019. The newly remade Product Grants and Benefits Administration Regulations 2019 are scheduled to sunset on 1 October 2029.

The Regulations prescribe additional requirements for registration to be eligible for the product stewardship (oil) benefit under the Product Stewardship (Oil) Act 2000.

Remaking of sunsetting instrument without significant amendments – Department of the Treasury

On 19 September 2019, the Governor‑General made the A New Tax System (Goods and Services Tax) Amendment (Transition) Regulations 2019. The Regulations amend the A New Tax System (Goods and Services Tax) Regulations 2019 to continue provisions from the A New Tax System (Goods and Services Tax Transition) Regulations 2000 that may have some further operation, and which were due to sunset on 1 October 2019.

Remaking of sunsetting instrument without significant amendments – Department of the Treasury

On 16 September 2019, the Assistant Minister for Finance, Charities and Electoral Matters remade with only minor amendments the Private Ancillary Fund Guidelines 2009, which were due to sunset on 1 October 2019. The newly remade Taxation Administration (Private Ancillary Fund) Guidelines 2019 are scheduled to sunset on 1 October 2029.

The Guidelines set out the rules a private ancillary fund and its trustee must comply with in order for the fund to be endorsed, and remain endorsed, as a deductible gift recipient, as well as set minimum standards for the governance and conduct of private ancillary funds and their trustees.