On 1 July 2023, the new Register of Foreign Ownership of Australian Assets (Register) previously introduced by Part 7A of the Foreign Acquisitions and Takeovers Act 1975 (Cth) (FATA) commenced. The Register will be administered and managed by the Commissioner of Taxation.

From 1 July 2023, work restrictions for student visa holders will be re-introduced. Businesses are recommended to take note of the changes and undertake a review of its employees’ visa status via the Visa Entitlement Verification Online system (VEVO) to mitigate the risk of inadvertently permitting its employees to work in breach of his or her visa conditions.

On 9 November 2022, the Treasury Laws Amendment (More Competition, Better Prices) Bill 2022 received royal assent meaning that changes to Australia’s unfair contract terms laws (UCT Laws) proposed under that bill (UCT Amendments) will take effect from 9 November 2023. As such, businesses have until that date to ensure their contracts comply.

The Australian Competition and Consumer (Industry Codes – Franchising) Regulation 2014 (Cth) (Franchising Code) was amended in November 2022 to introduce a new obligation for franchisors to create and maintain a profile on the Franchise Disclosure Register (Register) that is hosted and administered by the Department of Treasury. Franchisors now have the obligation to provide certain information for public listing on the Register.

The Retail Leases Amendment Regulations 2022 which came into operation on 1 December 2022 provides for the changes for landlords to note.

The subclass 190 visa is a permanent resident visa that is designed to enable State Government nominated skilled workers to live and work in Australia. Recent developments make the subclass 190 visa more accessible than ever before.