The proposal has been assessed by the Office of Best Practice Regulation (OBPR) as likely to have a widespread impact on the economy. The Energy White Paper was developed by the Department of Industry and Science. Proposal RIS Status Best practice PIR required Regulatory Burden ($m) Exploration Development Incentive Compliant Yes No $0.7 Establishes a refundable tax offset to encourage investment in small mineral exploration companies undertaking ‘greenfields’ mineral exploration in Australia. Proposal RIS Status Best practice PIR required Regulatory Burden ($m) Revised regulation of ‘scope of registration’ applications in VET sector Compliant Yes No -$3.3 On 11 September 2014, the Minister for Industry announced that the Australian Skills Quality Authority (ASQA) will expand the delegation for registered training providers (RTOs) to make decisions about changing the scope of their registration. The new approach will reduce red tape for highly compliant RTOs, by addressing the need for training providers to seek approval from ASQA before they offer new courses or make changes to the courses they are already delivering. The change is expected to reduce the compliance costs for those RTOs who no longer need to prepare change of scope applications, reduces their delay costs from waiting for approvals, and avoids the need for them to pay application fees. Department of Infrastructure and Regional Development Proposal RIS Status Best practice PIR required Regulatory Burden ($m) Coastal Shipping Reform Compliant Yes Yes -$21.4 The reforms introduce a simplified permit system to give foreign and Australian flagged vessels access to coastal shipping. They are estimated to deliver a net economic benefit of $667.4 million to the economy. As the reforms have been assessed by the OBPR as having a substantial impact on the sector and the economy, the Australian Government’s RIS process requires a post implementation review to be completed for the coastal shipping reforms within five years of being implemented. Proposal RIS Status Best practice PIR required Regulatory Burden ($m) Western Sydney Airport Market Access Facilitation Compliant No No $0.0 The Airports Amendment Bill 2015 removes the airport cross-ownership restrictions placed on Sydney West Airport. The Office of Best Practice Regulation considers that the Regulation Impact Statement required a higher level of analysis to be considered best practice. In particular, the RIS does not explain the purpose of the cross-ownership restrictions, or the competition problem that they seek to address. Australian Accounting Standards Board
Reducing Superannuation Compliance Costs for Small Business Compliant Yes No -$46.4 Reduces the compliance costs of the superannuation system on small businesses by amending choice of fund obligations so that employers are no longer required to offer choice of fund to temporary resident employees and in circumstances when superannuation funds merge. Proposal RIS Status Best practice PIR required Regulatory Burden ($m) Unincorporated business tax discount Compliant Yes No $14.8 Provides an annual 5 per cent tax discount capped at $1000 for individual taxpayers with business income from an unincorporated small business from 1 July 2015. Appendix A – RISs used for consultation during 2014-2015 The RISs listed have been certified by the authoring agencies, subject to an early assessment by the OBPR and published for consultation during the current financial year. Proposal Agency Closing date Improved Protection of Vehicle Occupants in Side Impact Crashes Department of Infrastructure and Regional Development 31 July 2015 Care Assistance Package Department of Social Services 31 July 2015 Improving Medicare funded diagnostic imaging services Department of Health 25 June 2015 Superstream: Pass Through of Employee Details Treasury 1 Sep 2014 Grocery Code of Conduct Treasury 12 Sep 2014 Reducing the Regulation of Stock Food and Pet Food Department of Agriculture 7 Nov 2014 Proposed Changes to the Annual Compliance Report Australian Transactions Reports and Analysis Centre 28 Nov 2014 Employee Share Schemes and Start-ups Treasury 6 Feb 2014 International Standards and Risk Assessments Department of Prime Minister and Cabinet Ongoing Section 457 Visa Reforms Department of Immigration and Border Protection NA