Government announces outcomes of review - soft start period extended
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.