July « 2011 « Best Practice Regulation Updates

29 July 2011

Non-compliance with best practice regulation requirements – Taxation of Financial Arrangements – tax hedging rules — Treasury

In the 2011-12 Budget released on 10 May 2011, the Government announced that it would amend the Taxation of Financial Arrangements tax hedging rules to ensure that the rules operate as intended, and to provide further certainty and reduce compliance costs for affected taxpayers.

A Regulation Impact Statement was required to inform the decision as this [...]

Continue reading Non-compliance with best practice regulation requirements – Taxation of Financial Arrangements – tax hedging rules — Treasury

29 July 2011

Prime Minister’s exemption – response to Australia’s Future Tax System (Henry) Review — Treasury

In the 2011-12 Budget released on 10 May 2011, the Government announced a number of measures. Regulation Impact Statements would have been required for these measures, but on 23 April 2010 the then Prime Minister granted a exceptional circumstances exemption for the Government’s tax reform agenda in response to the Australia’s Future Tax System (Henry) Review.

A [...]

Continue reading Prime Minister’s exemption – response to Australia’s Future Tax System (Henry) Review — Treasury

29 July 2011

Non-compliance with best practice regulation requirements – Reductions in Solar Credits multiplier - Department of Climate Change and Energy Efficiency

On 1 December 2010, the Minister for Climate Change and Energy Efficiency announced that the Solar Credits multiplier under the Small-Scale Renewable Energy Scheme would be reduced from 1 July 2011.

On 5 May 2011, the Minister for Climate Change and Energy Efficiency announced further reductions to the Solar Credits multiplier under the Small-Scale Renewable Energy [...]

Continue reading Non-compliance with best practice regulation requirements – Reductions in Solar Credits multiplier – Department of Climate Change and Energy Efficiency

29 July 2011

Non-compliance with best practice regulation requirements – Enhancements from the Review of the Australian Independent Screen Production Sector — Department of the Prime Minister and Cabinet

In the 2011-12 Budget released on 10 May 2011, the Government announced that it would implement a package of enhancements to the film tax offsets program.

A Regulation Impact Statement was required as this measure would have a regulatory impact on businesses in the film industry but was not prepared. Consequently, the Office of Best Practice [...]

Continue reading Non-compliance with best practice regulation requirements – Enhancements from the Review of the Australian Independent Screen Production Sector — Department of the Prime Minister and Cabinet

29 July 2011

Non-compliance with best practice regulation requirements – Farm Management Deposits — Treasury

In the 2011-12 Budget released on 10 May 2011, the Government announced that it would allow primary producers affected by natural disasters to access their farm management deposits within 12 months of making a deposit while retaining concessional tax treatment under the scheme.

A Regulation Impact Statement was required to inform the decision but was not [...]

Continue reading Non-compliance with best practice regulation requirements – Farm Management Deposits — Treasury

26 July 2011

Australia’s anti-dumping and countervailing system Regulation Impact Statement – Australian Customs and Border Protection Service

On 22 June 2011, the Minister for Home Affairs and the Minister for Trade announced changes to Australia’s Anti-Dumping and Countervailing System.

Dumping occurs where a company exports its goods to Australia at a price below the price it charges in its home market or below cost. Where that dumping materially injures an Australian business producing [...]

Continue reading Australia’s anti-dumping and countervailing system Regulation Impact Statement – Australian Customs and Border Protection Service

21 July 2011

Australia’s Plan for a Clean Energy Future Regulation Impact Statement – Department of Climate Change and Energy Efficiency

On 11 July 2011, the Australian Government announced Australia’s Plan for a Clean Energy Future. The Regulation Impact Statement (RIS) outlines the regulatory considerations and arrangements for a market based pricing mechanism that deals with Australia’s emissions of carbon dioxide and other global warming gases. The Government’s objectives are to respond to climate change, and [...]

Continue reading Australia’s Plan for a Clean Energy Future Regulation Impact Statement – Department of Climate Change and Energy Efficiency

21 July 2011

Rail Safety National Law COAG Consultation Regulation Impact Statement – National Transport Commission

On 18 July 2011, the National Transport Commission announced the release of a Consultation Regulation Impact Statement (RIS) on a national rail safety law. This proposal aims to develop a seamless and coordinated national approach to rail safety regulation as well as leading to improved safety outcomes. This follows the Council of Australian Governments (COAG) [...]

Continue reading Rail Safety National Law COAG Consultation Regulation Impact Statement – National Transport Commission

19 July 2011

Non-compliance with best practice regulation requirements – Extending the Tripartite Deeds for 12 Australian privatised airports from 20 to 50 years - Department of Infrastructure and Transport

On 24 May 2011, the Minister for Infrastructure and Transport announced the decision to extend the existing tripartite deeds for the 12 Australian privatised airports from 20 to 50 years.

Tripartite Deeds clarify the rights of financiers in the event an operator of a federally leased airport, to which they have lent money, goes out of [...]

Continue reading Non-compliance with best practice regulation requirements – Extending the Tripartite Deeds for 12 Australian privatised airports from 20 to 50 years – Department of Infrastructure and Transport

18 July 2011

Egg and Egg Product Primary Production and Processing Standard – COAG Decision Regulation Impact Statement – FSANZ

Food Standards Australia New Zealand (FSANZ) announced on 30 May 2011 the gazettal of a Primary Production and Processing Standard for Eggs and Egg Products. The standard is intended to be implemented by state and territory food regulators and will introduce new requirements for egg producers to identify and control the food safety hazards associated [...]

Continue reading Egg and Egg Product Primary Production and Processing Standard – COAG Decision Regulation Impact Statement – FSANZ

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Non-compliance with best practice regulation requirements – Taxation of Financial Arrangements – tax hedging rules — Treasury

Prime Minister’s exemption – response to Australia’s Future Tax System (Henry) Review — Treasury

Non-compliance with best practice regulation requirements – Reductions in Solar Credits multiplier - Department of Climate Change and Energy Efficiency

Non-compliance with best practice regulation requirements – Enhancements from the Review of the Australian Independent Screen Production Sector — Department of the Prime Minister and Cabinet

Non-compliance with best practice regulation requirements – Farm Management Deposits — Treasury

Australia’s anti-dumping and countervailing system Regulation Impact Statement – Australian Customs and Border Protection Service

Australia’s Plan for a Clean Energy Future Regulation Impact Statement – Department of Climate Change and Energy Efficiency

Rail Safety National Law COAG Consultation Regulation Impact Statement – National Transport Commission

Non-compliance with best practice regulation requirements – Extending the Tripartite Deeds for 12 Australian privatised airports from 20 to 50 years - Department of Infrastructure and Transport

Egg and Egg Product Primary Production and Processing Standard – COAG Decision Regulation Impact Statement – FSANZ

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