Published Impact Analyses

Regulation Impact Statement – Department of the Treasury

On 30 May 2017 the Treasurer introduced the Major Bank Levy Bill 2017.

The bill will introduce a levy on authorised deposit‑taking institutions (ADIs) with total liabilities of greater than $100 billion. The levy is imposed at a rate of 0.015 per cent on certain liabilities of the ADI that are reported to the Australian Prudential Regulation Authority on a quarterly basis. The levy will come into effect from 1 July 2017, and is expected to raise $6.2 billion over its first four years of operation.

Consultation Regulation Impact Statement

The New South Wales Environment Protection Authority (EPA) has released for public consultation a Council of Australian Governments (COAG) regulation impact statement (RIS) examining permanent exemption from mutual recognition arrangements for the NSW Container Deposit Scheme (CDS).

Regulation Impact Statement – Department of Agriculture and Water Resources

In the 2017/18 Budget the Government announced a levy on the tea tree oil industry consistent with its 2016 election commitment. 

The levy will ensure all tea tree oil producers invest equitably in research and development (R&D), and provide industry with greater certainty about future R&D funding for investment in longer-term projects. It also provides the industry with a mechanism to contribute to national cost-shared eradication responses in the case of a pest or disease incursion. 

The levy will be managed by the Rural Industries Research and Development Corporation (RIRDC). The Government will match expenditure by RIRDC on eligible tea tree oil R&D.

Regulation Impact Statement - Department of Health

The Government announced changes to its My Health Record system as part of the 2017-18 Budget. The My Health Record system will change to an opt-out model.

As a result of these changes, every Australian will have a My Health Record unless they prefer not to. Transition to opt-out participation will bring forward benefits to patients and medical service providers many years sooner than the current opt-in arrangements.

The Office of Best Practice Regulation (OBPR) assessed the Regulation Impact Statement (RIS) prepared by the Department of Health as best practice.

The RIS estimated the average annual regulatory savings of the proposal to be $3.13 million. The OBPR has agreed to this estimate.

COAG Consultation Regulation Impact Statement (RIS) – A National Consumer Protection Framework for online wagering in Australia

On 19 May 2017, the Commonwealth Department of Social Services (DSS) released a consultation RIS on the National Consumer Protection Framework for online wagering in Australia (The Framework). The Framework will seek to put in place nationally-consistent consumer protection measures for individuals using licensed online wagering products in Australia. DSS has prepared this RIS in consultation with state and territory government officials. This RIS has been assessed as adequate by the Office of Best Practice Regulation.

Class Order for Offers of Securities on Internet– Australian Securities and Investments Commission

On 7 March 2017, the Australian Securities and Investments Commission (ASIC) remade the Class Order (CO 02/246) without significant amendments in ASIC Corporations (Offers over the internet) 2017/181 (the instrument).

Regulation Impact Statement for Consultation – Department of Agriculture and Water Resources

On 30 March 2017, the Department of Agriculture and Water Resources released a consultation Regulation Impact Statement (RIS) on the management of its export quotas.

The RIS examines the effectiveness and efficiency of the existing Tariff Rate Quota (TRQ) administration. It furthermore identifies areas where TRQ management can be improved.

Details of the consultation process on the RIS can be found on the Department’s website. Submissions close on Friday 31 May 2017.

The RIS has been certified by the Department and was subject to an early assessment by the OBPR.

NATIONAL HEALTH (PHARMACEUTICAL BENEFITS) REGULATIONS 1960

The National Health (Pharmaceutical Benefits) Regulations 2017 (F2017L00313) came into effect on 1 April 2017. The Regulations replace the National Health (Pharmaceutical Benefits) Regulations 1960 which were due to sunset on that date. The Regulations are essential to the ongoing administration and delivery of the Pharmaceutical Benefits Scheme (PBS) and were remade without significant amendment.

Consistent with the Australian Government’s best practice regulation requirements for sunsetting instruments, the Department of Health has assessed that the regulations are operating effectively and efficiently. Therefore, under the Government’s best practice requirements, a Regulation Impact Statement (RIS) is not required for remaking this Regulation.

Royal Commission into Trade Union Governance and Corruption – Department of Employment

On 22 March 2017, the Government introduced the Fair Work (Corrupting Benefits) Bill 2017 (the Bill) into the House of Representatives.   

The Bill will amend the Fair Work Act 2009 in response to recommendations 40, 41 and 48 of the Final Report of the Royal Commission into Trade Union Governance and Corruption (TURC Report), to promote better governance of registered organisations. 

Department of Employment (the Department) has certified that the TURC Report has followed a process and analysis equivalent to a Regulation Impact Statement as set out in the Australian Government Guide to Regulation. The Department is therefore compliant and consistent with best practice. The Office of Best Practice Regulation (OBPR) does not assess independent reviews.

COAG Decision Regulation Impact Statement – Food Standards Australia New Zealand

On 9 March 2017, Food Standards Australia New Zealand approved a draft variation to the Australia New Zealand Food Standards Code, with a 12-month transition period, to regulate food containing lupin as an allergen.

The Decision Regulation Impact Statement (RIS) for Lupin as an Allergen was released on 23 March 2017.

Lupin is an emerging food allergen of public health significance in Australia. Lupin belongs to the group of plants known as legumes and therefore contains proteins which are similar to those found in other legumes such as peanut and soy. Like proteins in peanut and soy, proteins present in lupin can also be an allergen for some members of the community.