Consistent with the Government’s objective of improving transparency in relation to regulatory decisions, the Office of Best Practice Regulation monitors and reports on compliance with the best practice regulation requirements. This includes reporting on post-implementation review compliance.
Post-implementation reviews are required either because a significant regulatory decision was made without an adequate Regulation Impact Statement (RIS), or because the Prime Minister has granted an ‘exceptional circumstances’ exemption from the RIS requirements. Post-implementation reviews are required to commence within 1–2 years of the relevant measure being implemented and to be completed within 3-6 months.
The Treasury is non-compliant with the best practice regulation requirements in relation to its post-implementation review on the Tax Laws Amendment (2009 Budget Measure No.2) Bill 2009, which changed deductions from non-commercial activities for high income earners, as it has started but not completed the review within the required timeframe.