Published impact analyses for decisions announced by the Australian Government, ministerial forums and national standard setting bodies.
The Council of Australian Governments (COAG) has agreed to the permanent exemption of the New South Wales (NSW) Container Deposit Scheme (CDS) from mutual recognition arrangements – implemented through the Mutual Recognition Amendment (NSW Container Deposit Scheme) Regulations 2017 and Trans‑Tasman Mutual Recognition (NSW Container Deposit Scheme) Regulations 2017.
In the 2017 Federal Budget, the Government announced changes to the Disability Employment Services (DES) Program, coming into effect on 1 July 2018.
Through the DES program the Australian Government invests around $800 million each year to assist people with disability, injury or health conditions to find and retain sustainable employment.
In response to recent decline in disability employment participation rates, changes will be made to the DES program. These changes aim to provide participants with more choice and control and are supported by financial arrangements that will better take into account the difficulty in achieving an employment outcome.
A Regulation Impact Statement (RIS) was prepared by the Department of Social Services and was assessed as compliant and consistent with best practice by the Office of Best Practice Regulation (OBPR).
On 6 March 2018, the Australian Prudential Regulation Authority (APRA) remade Prudential Standard LPS 230 Reinsurance (LPS 230) under subsection 230A(1) of the Life Insurance Act 1995, without significant amendment.
On 02 March 2018, the Australian Buildings Codes Board (ABCB) released a Council of Australian Governments (COAG) Fire safety in Class 2 and Class 3 residential buildings Consultation Regulatory Impact Statement (RIS). The RIS considers whether the National Construction Code (NCC) Deemed-to-Satisfy (DtS) Provisions need to be revised to require fire sprinkler systems in new multi-story Class 2 and 3 residential buildings above 3 storeys in height.
The Consultation RIS has been assessed by the OBPR and complies with the COAG requirements for COAG Consultation RISs.
On 2 March 2018, the Australian Building Codes Board (ABCB) released a Council of Australian Governments (COAG) Consultation Regulation Impact Statement (RIS) which examines options to facilitate efficient energy use in both summer and winter for some new residential buildings. These options include separate energy limits for heating and cooling loads under the current Nationwide House Energy Rating Scheme (NatHERS) compliance pathway as well as an education program aimed at builders and building designers.
The Consultation RIS has been assessed by the OBPR and complies with the COAG requirements for COAG Consultation RISs.
On 7 February 2018 the Government introduced the Treasury Laws Amendment (2018 Measures No. 1) Bill 2018 (the Bill) to Parliament.
The Bill requires purchasers of new residential premises and new subdivisions to remit GST to the Australian Taxation Office (ATO) at the time of settlement, rather than in their next Business Activity Statement (BAS) statement, which could be several months after settlement. This change addresses the risk that some businesses in the property development industry will fail to remit GST, either through intentionally dissolving a business to avoid remitting GST or through a business not sufficiently budgeting to meet GST obligations.
In June 2010 the Australian Accounting Standards Board (AASB) issued AASB 1053 Application of Tiers of Australian Accounting Standards. This was intended to offer in Australian Accounting Standards a way of permitting most types of entities to reduce the cost of preparing General Purpose Financial Statements in accordance with Accounting Standards yet still provide adequate information for the users of the financial statements.
The AASB was required to prepare a Post-implementation Review (PIR) under the Government’s regulation impact assessment requirements because a compliant Regulation Impact Statement was not prepared before the decision to issue new standards was made. The AASB chose to address this requirement at the same time as undertaking its own routine post-implementation review of the standards.
Australian Maritime Safety Authority
On 31 January 2018, the Australian Maritime Safety Authority announced changes to vessel survey requirements. The changes align survey frequency with risk on an individual vessel basis, provide for greater flexibility to reduce the number of out-of-water surveys required, and allow surveys to be more easily aligned with other vessel maintenance activities.
The RIS indicates that the preferred option represents an estimated $97 million in quantified net benefits to the community as a whole over a 10-year period, as well as providing numerous unquantified benefits, including for marine safety.
The preferred option results in a reduction in compliance costs to business of $14.31 million per annum.