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TGA shelves biosimilar and generic transparency measures
In late 2020, following almost 18 months of public and industry consultations conducted by the Therapeutic Goods Administration (TGA).
Australia | Publication | February 2020
On 24 February 2020 Federal parliament finally passed the bill (first introduced in September 2019) to provide an amnesty to employers who have not met their superannuation obligations to employees.1 The aim is to motivate employers to self-disclose and rectify certain historical underpayments without attracting the penalties and administration charge that would otherwise be imposed by the ATO.
However, the amnesty will only be available for a further six months, only applies to underpayments made in relation to a period prior to 1 April 2018, and is subject to other provisos.
For those employers who are not 100% confident they have met all of their superannuation obligations, we consider it would be prudent to review payroll compliance so that, if there has been an inadvertent shortfall, they can take advantage of the amnesty. In our experience, many employers are confused by what is, and what is not, included in ‘ordinary time earnings’ on which superannuation is payable. Further, higher penalties are likely to apply to employers who do not come forward during the amnesty and later discover an historical underpayment.
In order to qualify for the amnesty:
Where a shortfall qualifies for the amnesty, the employer:
We can assist you in identifying any potential superannuation underpayments and provide advice on how to disclose this to the ATO.
Treasury Laws Amendment (Recovering Unpaid Superannuation) Act 2020
Publication
In late 2020, following almost 18 months of public and industry consultations conducted by the Therapeutic Goods Administration (TGA).
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The NSW Environment Protection Authority (EPA) recently released for public comment its draft Climate Change Assessment Requirements (CCARs) and draft Guide for Large Emitters (Guide).
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The introduction of a minimum stockholding obligation under the Fuel Security Act 2021 (Cth) has underscored the importance of traditional liquid fuels to safeguarding Australia’s energy security as it navigates the energy transition.
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