Published Impact Analyses

Regulation Impact Statement – Department of the Treasury

On 12 October 2016, the Government introduced legislation relating to reforms to working holiday makers regulations including:

• applying a 19 per cent income tax rate to working holiday maker taxable income on amounts up to $37,000, with ordinary tax rates for taxable income exceeding this amount; and

• increasing the rate of the departing Australia superannuation payments tax to 95 per cent for working holiday makers, reducing the visa application charge for Subclass 417 (Working Holiday) visas and Subclass 462 (Work and Holiday) visas from $440 to $390, and increasing the passenger movement charge from $55 to $60.

Independent Review - Department of Agriculture and Water Resources

On 31 March 2017, the Deputy Prime Minister and Minister for Agriculture and Water Resources announced a new Horticulture Code of Conduct to take effect on 1 April 2017.

The Government requested an independent review be held in response to concerns raised on the effectiveness of the mandatory Trade Practices (Horticulture Code of Conduct) Regulations 2006 (Horticulture Code) on 3 June 2015. Such concerns addressed issues of flexibility and the understanding of its application to industry practice, as well as that of transparency between growers and wholesalers.

COAG Decision Regulation Impact Statement – Standing Council on Federal Financial Relations

In March 2017, the Australian States and Territories agreed to implement a National Injury Insurance Scheme (NIIS) for people who have been catastrophically injured in motor vehicle accidents. The States and Territories further agreed to impose an agreed set of minimum benchmarks for these schemes.

The NIIS works alongside the National Disability Insurance Scheme (NDIS). It is intended to prescribe a minimum level of compensation across all jurisdictions to people who sustain a catastrophic injury from a motor vehicle, workplace, medical treatment injury or general accident. The first of these to be considered is motor vehicle accidents.

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.