The draft legislation is meant to deliver on measures announced by the Federal Government in its 2025–26 Mid-Year Economic and Fiscal Outlook to implement a crypto asset reporting framework and tax reporting regime.
The measures will ensure that the ATO is capable of appropriately containing threats to the taxation system without compromising its broader administration of the system.
The draft legislation contains amendments to ensure legislation under the Treasury portfolio remains fit for purpose and continues to work for relevant stakeholders and the broader public.
The consultation is focused on addressing immediate and demonstrated data gaps that limit regulatory visibility and seeking views on opportunities to rationalise existing collections and reduce compliance burden.
Consultation on the proposed methodology for assessing ‘connection’ will inform both the Federal Government’s position on the proposed levy allocation for FY2026–27 and the future operation of the framework.
The External Reporting Australia would be a new standard-setting body to be formed from the merger of the Financial Reporting Council, the Australian Accounting Standards Board, and the Auditing and Assurance Standards Board.
The Committee says a discussion paper will be released for consultation in the coming weeks, with a report due to be presented to the House of Representatives by 10 September 2027.
Treasury has opened consultation on draft amendments to various income tax laws to introduce several 2026-27 Budget tax reform measures.
The Commission has identified three categories of non-financial reporting requirements that may warrant examination in this inquiry and will be investigating interactions between requirements.
This draft legislation forms part of the Government’s 2023-24 Budget measure to increase transparency in ACNC activities and it is done in response to recommendation 17 of the 2018 review of ACNC legislation.
Treasury is seeking feedback on how the minimum tax will work, excluded types of trusts and income, the definition of fixed trust, roll-over relief, and a new electable regime for exclusion from the minimum tax.
The financial regulators estimate the changes will reduce reporting for all accountable entities and approximately 4,500 accountable people and halve the number of updates to accountability maps.
The Ombudsman's draft work plan sets out 10 possible systemic review topics, however the Ombudsman wouldonly be able to undertake four systemic reviews on key topics of interest per year.
According to the Ombudsman, the use of a DPN can have significant impacts on individual taxpayers, not all of whom are aware of their personal liabilities as a director.
The Government has also published voluntary guidance to help organisations plan for the impacts of the net zero transition and changing climate on their operations.
The inquiry will allow an opportunity to assess the cumulative cost of reporting obligations on Australian businesses overall with a final report due to the Government by February 2027.
The program is touted as “the world’s largest pooled funding program for international science and innovation collaboration” and Australian entities will be able to apply for funding from 1 January 2027.
The review is part of the Government’s package of reforms to further streamline and strengthen Australia’s foreign investment framework that was announced in the 2026-27 Budget.
According to the Commission, it has found that the reforms are costing more than expected due to the ‘No Worse Off’ guarantee.
According to the Commission, it has found that the reforms are costing more than expected due to the ‘No Worse Off’ guarantee.
The consultation paper seeks feedback on whether the principles-based general prohibition should be extended and unfair trading practices that small businesses and franchisees experience.
The Commission, it has been asked by the Federal Government to consider a range of issues including key processes and barriers to business entry, expansion, and exit.
Consultation paper on Productivity Commission’s inquiry into regulatory barriers to business dynamism released; ATO update: Overview of key changes to tax returns and schedules; OECD releases consolidated commentary to global anti base erosion (GloBE) model rules
Productivity Commission's public inquiry would examine how regulations across all levels of government can be improved to speed up delivery of new housing and boost construction productivity.
Consultation opens on proposed FY2026-27 Financial Institutions Supervisory Levies; Victoria’s revenue office releases rulings related to land transfer duty
The paper sets out information on the total expenses incurred by APRA, and other Commonwealth agencies, for activities to be funded through commensurate levies revenue collected in 2026-27.
Treasury says that abolishing these 86 tariffs is expected to streamline more than $560 million worth of annual trade and save businesses over $4.9 million in compliance costs per annum.
Changes to superannuation performance test consultation paper released
Consultation opens on amendments to Global and Domestic Minimum Tax rules
According to Treasury, the changes aim to improve how the standards are designed, consulted on, and delivered for the Consumer Data Right and Digital ID.
Consultation on News Bargaining Incentive draft legislation opens; APRA warns governance practices in regulated industries not keeping pace with AI adoption
Draft cash distribution framework legislation released for consultation
According to the Treasurer, the framework is designed to support access to cash nationwide, promote fair and transparent commercial arrangements, and strengthen the resilience of the cash distribution system.
Consultation open on legislation introducing a $1000 instant tax deduction; ASIC issues 2027 digital assets regulatory framework implementation roadmap
APRA consults on Retirement Reporting Framework approach
Consultation guide released for review on Australia’s thin cap reform; Legislation update: List of jurisdictions with qualified taxes under GloBE rules amended; Treasury publishes submission on productivity in Australia
According to the consultation paper, ASIC finds that it is an "appropriate time" to review the requirement in light of recent scheme collapses and ensure it continues to meet its objectives.
The proposed standard will require prospective advisers to hold a bachelor's degree or higher, as well as meet minimum study requirements in relevant areas and completing mandatory financial advice subjects.
APRA says that the proposed changes are designed to be broadly cost neutral across the banking industry, while small banks with more stable funding sources are expected to see some cost benefits from the liquidity changes.
The draft legislation covers definitions of regulated payment functions, licensing obligations (including how certain providers must safeguard payment-related money), and exemptions and exclusions.
Draft administrative amendments to operation of Domestic Top-up Tax released for consultation; Consultation paper on sustainable financial products labelling regime released; Federal Government releases final report on Carbon Leakage Review; ATO update: FY2023-24 statistics for international related party dealings released; ‘Soft landing’ for Australia’s economy as real GDP forecast to grow: IMF
Government consults on proposals to enhance governance and oversight on managed investment schemes; Draft legislation targeting ‘subscription traps’, hidden fees released for consultation; Household spending fell in December as consumers brought forward spending: ABS
The Enhancing oversight and governance of managed investment schemes consultation paper considers several reform options to enhance the governance and oversight of registered managed investment schemes.
Legislation update: Amendments to digital assets regulatory framework referred to Senate Economics Committee; ACT Government reports fastest economic growth in Australia, operating deficit to halve in 2025-26
Terms of reference released for statutory review of thin cap reforms; ATO update: Key lodgement and payment dates for employers; ATO update: Significant global entity guidance for large private groups
Consultation opens on CSLR professional indemnity insurance; Draft legislation on improving business registers released for consultation; Government opens consultation for electric car discount statutory review; Queensland Government publishes 2024-25 Mid-Year Fiscal and Economic Review; Tax Practitioners Board outlines compliance priorities for the coming year.
Consultation open on excluding gambling, tobacco from R&DTI eligibility; Number of filled jobs rose in September quarter, driven by rise in secondary jobs: ABS
The proposal builds on existing proportionality in the framework, including the current two-tier approach which designates authorised deposit-taking institutions (ADIs) as either significant financial institutions (SFIs) or non-SFIs.
The Assistant Treasurer says that the Government places significant importance on receiving submissions in developing its budget policies and strategy.
Proposed reforms will make sure the system remains fit for purpose by streamlining processes, reduce administrative burden, and strengthen the system to support Australian manufacturers and consumers.
The Tasmanian Government states that presently multiple applications for permits, licences and approvals are often required from new business owners, which can create confusion, delays, and significant costs.
Tasmanian Government consults on new business Single Start-Up Permit; ATO update: Alert issued on ‘barter credits’ tax scheme
ATO consults on draft instrument for NZ wine exporter producer rebate; ATO update: Preparing for Small Business Superannuation Clearing House closure; United States modifies tariff rates, duties on China following trade and economic deal
Consultation opens on amendments to multinational top-up tax framework; Federal Government’s Red Tape Reduction Review consultation guide issued; Treasury publishes its Annual Report 2024-25; UN Committee releases early draft of Tax Framework Convention; France announces it won’t implement Pillar One Amount B
Treasury has released for consultation the first tranche of draft legislation that seeks to lay the foundations for a new regulatory framework for payment service providers.
Treasury consults on draft legislation to modernise digital asset regulatory regime; ATO update: Insights on 2024-25 public, multinational business disputes and outcomes
Productivity Commission opens inquiry into operation of 2018 GST reforms; Board of Taxation tasked with reducing tax system red tape; August’s annual inflation rate hit highest in a year: ABS; OECD releases September 2025 Interim Economic Outlook
The identified processing activities for these regulations relate to the processing of graphite, high purity alumina, and precursor cathode-active material.
Treasury consults on regulation for critical mineral processing tax incentive eligibility; Consultation opens on proposed Help to Buy Scheme rules; Consultation opens on Tax Ombudsman’s review into ATO’s GIC decision making; ATO update: Advice updated on what is considered ‘ordinary time earnings’; French Constitutional Court upholds digital services tax decision
The two exposure draft legislations related to rebates an eligible wine producer, or a group of associated wine producers, and remissions for eligible alcohol manufacturers of certain alcoholic beverages.
Government consults on removal of ‘nuisance tariffs’.
Consultation paper issued on climate-related transition planning guidance; Average weekly earnings reached historic high in May: ABS
Consultation open on superannuation retirement phase best practice principles, reporting framework; Economic Reform Roundtable issues papers issued; PBO publishes costing on proposed progressive GST change; Phasing out EV tax exemptions recommended in Productivity Commission interim report; Review into small and medium-sized banks competition report released; ATO update: Recurring reporting issues in property, construction industry
Treasury consults on options to address excess over CSLR sub-sector levy cap; Economic Reform Roundtable agenda released; OECD publishes Pillar Two reporting, updated crypto-asset reporting XML Schemas; US White House announces modified reciprocal tariff rates
Productivity Commission proposes lowering corporate tax rate, introduce net cashflow tax; Legislation update: Payments System Modernisation bill introduced; Australia-UAE economic partnership customs bills pass parliament; ATO update: Arrangements used in fraudulent GST refund frauds; ATO update: Invitations to Public CbC reporting exemptions virtual consultations issued
Treasury adds that the labels seek to help investors make informed decisions about sustainable investment products, as the current lack of standard practice and terminology in sustainable investing makes it difficult for investors.
Consultation paper released on sustainable financial product labelling framework; More invitations issued for Federal Government’s Economic Reform Roundtable; ATO update: Claiming FRCGW as a credit
RBA issues consultation paper on merchant card payment costs and surcharging review
The RBA says removing surcharging, combined with reductions in interchange fees and greater transparency of payment costs, would make card payments simpler, more transparent, and more efficient for consumers and merchants.
ASIC consults on remaking financial reporting relief instruments; Productivity Commission finds US trade measures to have small impact on Australian production
Treasury consults on competition reform guidelines, best practice handbook; ATO consults on ESS start-up concession valuation methods draft instrument; US House passes ‘One Big Beautiful Bill’ legislation
Treasury is also seeking public input on sectors that they believe would benefit from lowering barriers to the adoption of international and overseas standards, as it would inform its advice on the identification of priority sectors.
US Senate votes to begin floor debate on budget reconciliation bill; Australian inflation and cost dynamics – June 2025; and our latest webinar recording on recent tariff changes is now available to stream.
Treasury is seeking views on priority reforms to consider and are interested in ideas and proposals to improve productivity, build economic resilience in the face of global uncertainty, and strengthen budget sustainability.
The consultation paper seeks feedback on changes to the definition of 'employee redundancy funds' and three options for the regulation of employee redundancy funds going forward.
The IGTO says tax debt and the ATO's treatment of taxpayers with tax debt are a major source of complaints as the application of interest, especially on larger debts, can very quickly make them impossible to pay back.
Tax Ombudsman to review ATO approach to tax debt interest; Report released on budget impacts from Labor, Coalition, Greens’ election commitments; Productivity report finds Australian productivity stagnant in March quarter
According to Treasury, the use of cost recovery principles means that businesses that propose potentially risky mergers for assessment bear the cost they impose on the community to assess that risk, rather than taxpayers.
Productivity Commission consults on productivity inquiries reform areas; ATO update: Global and domestic minimum tax guidance, key information released
The Commission says the reform areas were informed by responses to "Australia's Productivity Pitch", where feedback was collected on barriers and opportunities to improve productivity across the economy.
The consultation paper sets out ASIC’s approach to publication as well as its proposals regarding how the data is present and contextualised, scope of the data published, and data elements to publish.
The draft instrument also sets additional targeted notification requirements for major supermarkets, gives effect to the ACCC's proposed notification forms, and its development will support the commencement of voluntary notification.
The two draft documents outline the ACCC's usual processes when assessing acquisitions under the new merger control regime and its expectations for how relevant stakeholders can engage in those processes.
The ACCC says the purpose of these draft guidelines is to explain its approach to analysing the potential effects of mergers on competition and should provide predictability to businesses.
ACCC consults on draft merger assessment guidelines for mandatory merger control regime; Victoria issues payroll tax ruling on definition of regional employee, employer; February unemployment rate remained steady as fewer older workers return to work: ABS
Treasury opens consultation on draft payday super legislation; PBO publishes costing on proposed income tax splitting for couples with dependents; January’s business turnover continues ‘strongest period of sustained growth’ since 2022: ABS; Canada introduces countermeasures in response to US tariffs
ASIC publishes discussion paper on Australia’s capital markets; Queensland Government consults on reducing small, family businesses red tape; OECD releases consolidated report on Amount B; White House announces directive to counter digital service taxes
According to ASIC, the paper "opens a discussion on its regulatory approach and seeks actionable ideas for it to consider to enhance the operation of Australia's capital markets".
Red tape examples provided will be collated by the Queensland Small Business Commissioner and will be used to inform advocacy efforts about matters affecting small and family businesses.
According to APRA, it has "no specific rules or guidance in relation to HELP repayments beyond asking banks to include HELP debts when reporting data on debt-to-income ratios".
ASIC is proposing to give licensees relief from reporting certain breaches of the misleading and deceptive conduct provisions, and certain contraventions of civil penalties.
The draft guide is intended to help providers of low cost credit contracts to understand their key obligations that has been introduced in the BNPL Amendment Act.
Consultation paper issued on consolidation of FRC, AASB, AUASB into single reporting body; Queensland 2024-25 Mid-Year Fiscal and Economic Review published
The Commission would combine the public input with our own research to identify policy reforms under each pillar to explore further.
Government consults on proposed digital competition regime for digital platforms; Consultation opens on draft legislation to alleviate double taxation in Australia-Portugal tax treaty; Early discounts, liquor spending drive third consecutive month of retail turnover rise: ABS
Treasury consults on legislation to increase listed entity ownership information disclosure; Treasury consults on design elements of prohibitions on unfair trading practices; Senate Committee recommends passage of AML/CTF bill with amendments; Parliamentary Budget Office releases explainer on Australia’s tax mix; ATO update: CBC lodgement deferral for 31 December balancers; Wage Price Index annual growth rate cools in September quarter: ABS; No changes to Hungary’s global minimum tax reporting obligation
The consultation paper also seeks further information on the likely benefits to consumers and likely compliance costs for businesses associated with the proposal.
Treasury consults on feasibility of franchising sector licensing regime
The Consideration of a licensing regime for the franchise sector consultation paper outlines five potential functions of a licensing regime.
High Court grants ATO special leave to appeal PepsiCo decision; ASIC consults on sustainability reporting regime guidance.
Government publishes second consultation paper on Carbon Leakage Review; ATO update: Large corporate groups key international, domestic compliance risks; Value of new housing loans fell in September, remains higher year-on-year: ABS
The issues paper discusses potential regulatory responses including whether the RBA's existing regulations and initiatives on interchange and scheme fees, least-cost routing and surcharging continue to achieve their desired outcomes.
The discussion paper is part of the Government's ongoing work to strengthen existing laws to address risks and harms from AI, alongside possible mandatory guardrails shaping the development and use of AI in high-risk settings.
Consultation opens for draft 2024 Franchising Code of Conduct regulations; Amendments to clarify tax agent code of conduct provisions registered; Legislation update: Mergers and acquisitions reform bill introduced; Legislation update: Superannuation concessions bills pass House; ATO update: Changes to FBT exemptions for PHEVs from 1 April 2025
Treasury consults on tax promoter legislation; Victoria’s key economic indicator records 2.1 percent growth in 2023-24; Flat household spending recorded for August: ABS
Consultation opens on miscellaneous amendments to Treasury portfolio laws; WA Government reports 40 percent higher operating surplus, lower net debt; Number of job vacancies record ninth consecutive quarterly fall in August: ABS
Government consults on instrument to clarify tax practitioner code of conduct provisions; ASIC registers instrument to extend employee redundancy fund relief
Draft legislation to tighten LCT ‘fuel-efficient vehicle’ definition opens for consultation; Government consults on amendments to Food and Grocery, Franchising codes of conduct; Australia signs OECD ‘Subject to Tax Rule’ statement of support
Two pieces of draft legislation contain amendments to make the 'voluntary' Food and Grocery Code of Conduct mandatory and allow higher maximum penalties for breaches of it.
IGTO consults on draft 2024-25 work plan for systemic reviews; ATO update: Public groups findings reports released; US House Republican leadership, Ways and Means members express opposition to Pillar Two deal in letter to OECD
APRA is proposing that banks phase out the use of AT1 capital instruments and replace them with cheaper and more reliable forms of capital that would absorb losses more effectively.
The purpose of the merger notification thresholds is to ensure the ACCC is aware of those mergers most likely to impact Australian consumers if they are anti-competitive, while keeping compliance costs low for business.
Consultation opens on new merger notification thresholds; PBO publishes costings on proposed corporation tax for oil and gas, coal and mining; NSW Government prescribes ‘Metropolitan Sydney’ area for GP payroll tax exemption; ATO update: Key issues for Next 5,000 2024-25 program; July’s retail turnover flat after mid-year sales events: ABS
Victoria’s SRO consults on draft revenue ruling for business insurance duty; ATO update: Updates on 2022-23 income year corporate tax transparency reporting
Consultation paper released on National Competition Policy reform; Government consults on draft legislation to add $1b funding to NHIF for crisis housing
The Revitalising National Competition Policy consultation paper provides an overview of the original NCP and presents three elements of "revitalising" the NCP for consultation.
Although the exemption has been in place for nearly four years, the statement mentions that the extended time period provides additional data to inform a future decision.
