Published Impact Analyses

On 17 October 2014, the Australian Government announced amendments to the regulatory framework for in-vitro diagnostic medical devices (IVDs) to overcome previously unanticipated problems when previous regulatory changes were introduced in 2010. IVDs are pathology tests and related instrumentation used to carry out testing on human samples. They are typically used in diagnostic pathology laboratories, other laboratories (blood and tissue screening laboratories), at point of care, and in some cases, in the home. The safety and quality of IVDs are regulated by the Therapeutic Goods Administration (TGA). Prior to 2010, the level of IVD regulation in Australia was very limited.

The Australian Communications and Media Authority (ACMA) remade one sunsetting legislative instrument without significant amendments on 20 February 2015: the Radiocommunications Licence Conditions (Apparatus Licence) Determination 2015. The instrument seeks to address public health concerns with exposure to electromagnetic radiation from telecommunications transmitters. Exposure limits are drawn from the Radiation Protection Standard for Maximum Exposure Levels to Radiofrequency Fields—3 kHz to 300 GHz published by the Australian Radiation Protection and Nuclear Safety Agency (the ARPANSA Standard). In line with the Australian Government best practice regulation requirements for sunsetting legislative instruments, the ACMA has assessed the operation of this instrument in consultation with affected stakeholders and has certified that the instrument is operating efficiently and effectively.

Regulation Impact Statement – Department of Agriculture

On 14 January 2015, the Minister for Agriculture wrote to Citrus Australia Limited (CAL), the Australian Horticultural Exporters Association and the export control body, Horticulture Innovation Australia Limited, advising of his decision to extend the horticulture export efficiency powers (EEPs) for a further two years, to 31 January 2017. EEPs had been due to terminate on 31 January 2015. The EEPs allow horticultural industries to apply to the government for conditions to be placed on horticultural produce exported from Australia such as:

• requiring the use of specific importing or exporting agents;
• establishing quality, colour, shape or size standards for produce; and
• requiring exporting businesses to participate in an approved export program.

A regulation impact statement (RIS) was completed in December 2014, which presented 3 options:

On 3 December 2014, the Parliamentary Secretary to the Minister for Communications introduced legislation containing a range of proposals to combat cyber-bullying and provide a safer online environment for children. The proposals included the establishment of the Children's e‑Safety Commissioner and setting out the Commissioner's functions and powers, and are supported by a range of non regulatory actions including an education and awareness raising campaign. The proposals were informed by public and industry consultation conducted throughout 2014. The proposals have been assessed as likely to have a measurable but contained impact on the economy.  A Regulation Impact Statement (RIS) was prepared and certified by the Department of Communications and has been assessed as compliant by the Office of Best Practice Regulation (OBPR).

On 30 October 2014 the Attorney-General and the Minister for Communications announced the introduction of the Telecommunications (Interception and Access) Amendment (Data Retention) Bill 2014. The Australian Government’s Guide to Regulation (Guide) states that the choice of Regulation Impact Statement (RIS) appropriate to the task is up to the agency in conjunction with the OBPR. The Attorney-General’s Department chose to complete a short-form RIS for the proposal to implement a mandatory data retention regime. The Department is compliant with the RIS requirements. This web post responds to a request from a stakeholder consistent with the Government’s User Guide to the Australian Government Guide to Regulation (page 8)

On 11 February 2015 the Prime Minister, Treasurer and the Minister for Agriculture announced changes to the screening arrangements for foreign investment in Australia’s agricultural sector. The Australian Government’s Guide to Regulation (Guide) states that the choice of Regulation Impact Statement (RIS) appropriate to the task is up to the agency in conjunction with the Office of Best Practice Regulation (OBPR). The Department of the Treasury chose to complete a short-form RIS for the proposed changes to the foreign investment screening arrangements. It was the OBPR’s view that for this proposal a standard-form RIS would have been consistent with best practice. The Department is compliant with the RIS requirements.

On 23 December 2014, the Australian Accounting Standards Board (AASB) announced it had approved a new standard, AASB 15 Revenue from Contracts with Customers, that addresses the financial reporting of revenue and cash flows arising from an entity’s contracts with customers. The new standard establishes principles, and includes disclosure requirements, for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers, based on the international financial reporting standard IFRS 15 Revenue from Contracts with Customers. IFRS 15 addressed concerns by users of financial statements that existing revenue standards have led to inconsistencies between entities’ reported revenues, principally in relation to when an entity recognises revenue under some long term contracts (e.g.

On 23 December 2014, the Australian Accounting Standards Board (AASB) announced it had approved a new standard for accounting for financial instruments, AASB 9 Financial Instruments, to supersede earlier versions of AASB 9 issued in December 2009 and December 2010. The new standard incorporates the international financial reporting standard IFRS 9 Financial Instruments issued in July 2014, which made changes in relation to:

On 14 October 2014, the Minister for Industry and the Prime Minister jointly announced  the Industry Innovation and Competitiveness Agenda. The report includes a proposal to improve taxation arrangements for Employee Share Schemes. The proposal considers changing the taxation point for options in employee share schemes and allowing start-ups to offer options and shares at a small discount that will generally be exempt from up-front taxation. These changes intend to increase the number of employees participating in Employee Share Schemes. The proposal has been assessed by the Office of Best Practice Regulation (OBPR) as likely to have a measurable but contained impact on the economy with no impacts on competition. A Regulation Impact Statement has been prepared by the Treasury for consultation. Consultations on this RIS are now open and will close on 6 February 2015.

On 17 April 2014, the Government published an advance release of the Building and Construction Industry (Fair and Lawful Building Sites) Code 2014 (‘the Building Code’). On 28 November 2014 it published a further advance release. The Building Code sets out the standard of workplace relations conduct expected from those contractors that want to perform work funded by the Commonwealth Government. Among other provisions, the Code prohibits the inclusion of clauses in enterprise agreements that: