Government announces outcomes of review - soft start period extended
December 7, 2017
The Australian Government has released KPMGs Independent review of the impact of the illegal logging regulations on small business. The Government has given in-principle support to its recommendations including increasing the individual consignment value threshold from $1,000 to $10,000, establishing simplified 'deemed to comply' arrangements by regulation and better education and support for industry compliance. They will also be extending the initial ‘soft-start’ compliance education period, due to end in May 2016, until a Regulatory Impact Statement (RIS) has been prepared and any associated amendments to the Regulations have commenced. This extension will probably be until end of third quarter in 2016.